Thông tư 16/2012/TT-NHNN

Circular No. 16/2012/TT-NHNN of May 25, 2012, guiding some articles of the Government's Decree No.24/2012/ND-CP of April 3, 2012, on management of the gold business activities

Nội dung toàn văn Circular No. 16/2012/TT-NHNN guiding some articles of the Government's Decree No


THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
---------------

No. 16/2012/TT-NHNN

Hanoi, May 25, 2012

 

CIRCULAR

GUIDING SOME ARTICLES OF THE GOVERNMENT'S DECREE NO.24/2012/ND-CP OF APRIL 3, 2012, ON MANAGEMENT OF THE GOLD BUSINESS ACTIVITIES

Pursuant to the Law No. 46/ 2010/QH12, of June 16, 2010, on the State Bank of Vietnam;

Pursuant to the Law No. 47/ 2010/QH12, June 16, 2010, on Credit Institutions;

Pursuant to the Government's Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government's Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities;

At the proposal of the director of the Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam promulgates this Circular guiding some articles of the Government's Decree No. 24/ 2012/ND-CP of April 3, 2012, on management of gold business activities.

Section 1 GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular guides the manufacture of gold jewelry and art crafts; gold bar trading; and export and import of gold material by enterprises and credit institutions as prescribed in the Government's Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities (hereinafter referred to as the Decree No. 24/2012/ND-CP).

Article 2. Subjects of application

This Circular applies to enterprises and credit institutions engaged in gold business activities in the Vietnamese territory and other related organizations and persons.

Section 2: CONDITIONS FOR GRANT OF GOLD MATERIAL EXPORT OR IMPORT LICENSES

Article 3. Conditions for grant of gold material export or import licenses with respect to manufacturers of gold jewelry and art crafts

1. The enterprise registration certificate with the business line of manufacture of gold jewelry and art crafts.

2. Possessing a certificate of eligibility for manufacture of gold jewelry and art crafts granted by the State Bank of Vietnam (hereinafter referred to as the State Bank).

3. Demand of gold material import conforms to plan on manufacture of gold jewelry and art crafts.

4. Not violating the law on management of gold business activities for 12 (twelve) consecutive months before requesting a gold material import license.

Article 4. Conditions for granting license for temporary import of gold material for re-export of products with respect to enterprise having a contract with foreign party of processing gold jewelry and art crafts 

 1. The enterprise registration certificate with the business line of manufacture of gold jewelry and art crafts.

2. Possessing a certificate of eligibility for manufacture of gold jewelry and art crafts granted by the State Bank.

3. Demand of gold material import conforms to plan on manufacture of gold jewelry and art crafts and the contract with foreign party of processing gold jewelry and art crafts.

4. Not violating the law on management of gold business activities for 12 (twelve) consecutive months before applying for a license for temporary import of gold material for re-export of products.

Article 5. Conditions for granting a license for gold material import with respect to foreign-invested enterprise in order to product gold jewelry and art crafts

1. Being enterprise lawfully established and having registered business line for the manufacture of gold jewelry and art crafts.

2. Demand of gold material import conforms to production capacity, production and business plan and contracts to process gold jewelry and art crafts.

3. Not violating the law on management of gold business activities for 12 (twelve) consecutive months before applying for a gold material import license.

Article 6. Conditions for granting a gold material import license with respect to an enterprise making offshore investment in gold mining

1. Being an enterprise lawfully established and having registered gold mining business as indicated in its investment certificate.

2. Having documents proving that the gold material to be imported is exploited overseas by the enterprise or is product shared under agreement on gold mining overseas.

3. The imported gold material is used only to manufacture gold jewelry and art crafts.

4. Not violating the law on management of gold business activities for 12 (twelve) consecutive months before applying for a gold material import license.

Article 7. Conditions for granting a gold material export license with respect to enterprise possessing a gold mining license in Vietnam

1. Being foreign-invested enterprise lawfully established.

2. Possessing a gold mining license.

3. Having documents proving that the gold material be expected to export is exploited domestically by the enterprise.

4. Not violating the law on management of gold business activities for 12 (twelve) consecutive months before applying for a gold material export license.

Section 3: DOSSIERS OF REQUEST FOR GRANTING CERTIFICATES OF ELIGIBILITY FOR MANUFACTURE OF GOLD JEWLERY AND ART CRAFTS, LICENSES FOR GOLD BAR TRADING AND LICENSES FOR GOLD MATERIAL EXPORT OR IMPORT

Article 8. Dossier of request for granting a certificate of eligibility for manufacture of gold jewelry and art crafts

1. An application for granting a certificate of eligibility for manufacture of gold jewelry and art crafts (made according to the form 1 of this Circular).

2. The enterprise registration certificate with the business line of gold trading.

3. The documents or materials proving the right to own or lawfully use the business place; a list of material facilities and equipment for the manufacture of gold jewelry and art crafts.

Article 9. Dossier of request for granting a gold bar trading license

1. For an enterprise, a dossier of request for granting a gold bar trading license comprises:

a/ An application for granting a gold bar trading license (made according to the form in the Annex 2 of this Circular);

b/ The enterprise registration certificate with the business line of gold trading;

c/ Operation registration certificates of its branches;

d/ The tax office's certification on the paid tax amounts of gold trading activities in 2 (two) latest consecutive years.

2. Dossier of application for granting a gold bar trading license for a credit institution includes:

a/ An application for granting a gold bar trading license (made according to the form in Annex 3 of this Circular);

b/ The credit institution's establishment and operation license with the business line of gold trading.

Article 10. Dossier of application for granting a gold material import license for a manufacturer of gold jewelry and art crafts

1. An application for granting a gold material import license (made according to the form 4 of this Circular).

2. The enterprise registration certificate.

3. The certificate of eligibility for manufacture of gold jewelry and art crafts.

4. The enterprise's report on gold material import and manufacture of gold jewelry and art crafts in 12 (twelve) latest months before reporting, enclosed with the gold import customs declaration and reconciliation slip certified by the customs office (made according to the form 6 of this Circular).

5. The enterprise's plan on manufacture of gold jewelry and art crafts.

Article 11. Dossier of application for granting a license for temporary import of gold material in order to re-export of products for an enterprise having a contract with foreign party of processing gold jewelry and art crafts

1. An application for granting a license for temporary import of gold material in order to re-export of products (made according to the form 4 of this Circular).

2. The enterprise registration certificate.

3. The certificate of eligibility for manufacture of gold jewelry and art crafts.

4. The contract with foreign party of processing gold jewelry and art crafts.

5. The enterprise's report on gold material import, manufacture and export of gold jewelry and art crafts in 12 (twelve) latest months before reporting, enclosed with the customs declaration of temporary import and re-export of gold and reconciliation slip certified by the customs office (made according to the  form 7 of this Circular).

6. The enterprise's plan on manufacture of gold jewelry and art crafts.

Article 12. Dossier of application for granting a gold material import license for a foreign-invested enterprise in order to manufacture gold jewelry and art crafts

Not later than on December 15 of the year preceding the planning year or when need to supplement the volume of imported gold material under plan, a foreign-invested enterprise shall submit a dossier of application for granting a gold material import license. A dossier includes:

1. An application for granting a gold material import license (made according to the form 5 of this Circular).

2. The investment certificate.

3. A report on the export, import and consumption of gold products in Vietnam in 12 (twelve) latest months before reporting, enclosed with the export-import customs declaration and reconciliation slip certified by the customs office (made according to the form 8 of this Circular).

4. The enterprise's production and business plan; documents and materials proving the production capability of enterprise.

5. The contract with foreign party of processing gold jewelry and art crafts.

Article 13. Dossier of application for granting a gold material import license for an enterprise making offshore investment in gold mining

1. An application for granting a gold material import license (made according to the form 4 of this Circular).

2. The investment certificate.

3. Materials proving that the gold material to be expected for import is exploited overseas by the enterprise or is product shared under the agreement on gold mining overseas.

4. Documents and materials proving the use of the imported gold material is compliant with Clause 3, Article 6 of this Circular.

5. The enterprise's report on gold mining and gold material import in 12 (twelve) latest months before reporting, enclosed with the gold import customs declaration and reconciliation slip certified by the customs office (made according to the form 9 of this Circular).

Article 14. Dossier of application for granting a gold material export license for enterprise possessing a licensed gold mining

1. An application for granting a gold material export license (made according to the form 4 of this Circular).

2. The investment certificate.

3. Materials proving that the gold material to be expected for export is exploited by the enterprise.

4. The enterprise's report on gold mining and gold material export in 12 (twelve) latest months before reporting, enclosed with the gold export customs declaration and reconciliation slip certified by the customs office (made according to the form 9 of this Circular).

Section 4: PROCEDURES FOR GRANTING GOLD BAR TRADING LICENSES; GOLD MATERIAL EXPORT OR IMPORT LICENSES AND CERTIFICATES OF ELIGIBILITY FOR MANUFACTURE OF GOLD JEWLERY AND ART CRAFTS

Article 15. Procedures for granting gold bar trading licenses; gold material export licenses; gold material import licenses for foreign-invested enterprises and enterprises making offshore investment in gold mining

1. An enterprise or a credit institution having demand to trade in gold bars; a foreign-invested enterprise having demand to import gold material in order to manufacture gold jewelry and art crafts; an enterprise making offshore investment in gold mining and having demand to import gold material exploited overseas by itself; or a enterprise with licensed gold mining having demand to export gold material exploited by itself shall submit directly or by post 1 (one) dossier set as prescribed in Article 9, 12, 13 or 14 of this Circular to the State Bank (the Foreign Exchange Management Department) to be granted a gold bar trading license or a gold material import or export license.

2. Based on provisions on conditions, dossiers and procedures in the Decree No. 24/2012/ ND-CP and this Circular, the Foreign Exchange Management Department shall propose the Governor of State Bank to consider and license the gold bar trading.

3. Based on the objectives of the monetary policy and gold supply and demand in each period and provisions on conditions, dossiers and procedures in the Decree No. 24/2012/ ND-CP and this Circular, the Foreign Exchange Management Department shall propose the Governor of the State Bank to consider and license the export and import of gold material.

4. Within 30 (thirty) working days after receiving a complete and valid dossier from an enterprise or a credit institution, the State Bank shall grant or refuse to grant (clearly stating the reason) a gold bar trading license; gold material export license or gold material import license (made according to the form in Annex 13, 14 or 15 of this Circular). The gold bar trading license granted by the State Bank to a credit institution is an integral part of the credit institution's establishment and operation license.

Article 16. Procedures for granting certificates of eligibility for manufacture of gold jewelry and art crafts and licenses for temporary import of gold material for re-export of products

1. An enterprise having demand to manufacture gold jewelry and art crafts or to import gold material in order to process gold jewelry and art crafts for a foreign party shall submit directly or by post 1 (one) dossier set as prescribed in Article 8 or Article 11 of this Circular to the State Bank branch of the centrally-affiliated cities or provinces where the enterprise locates its head office (hereinafter referred to as provincial-level State Bank branch) to be granted a certificate of eligibility for manufacture of gold jewelry and art crafts or a license for temporary import of gold material for re-export of products.

2. Based on provisions on conditions, dossiers and procedures in the Decree No. 24/2012/ ND-CP and this Circular, a provincial-level State Bank branch shall consider and grant a certificate of eligibility for manufacture of gold jewelry and art crafts or a license for temporary import of gold material for re-export of products.

3. Within 30 (thirty) working days after receiving a complete and valid dossier from an enterprise, the director of a provincial-level State Bank branch shall grant or refuse to grant (clearly stating the reason) a certificate of eligibility for manufacture of gold jewelry and art crafts or a license for temporary import of gold material for re-export of products (made according to the form 16 and 17 of this Circular).

Article 17. Procedures for licensing temporary import of gold material for manufacture of gold jewelry and art crafts

1. An enterprise having demand to import gold material for manufacture of gold jewelry and art crafts shall submit directly or by post 2 (two) dossier sets as prescribed in Article 10 of this Circular to a provincial-level State Bank branch in order to be granted a gold material import license.

2. Within 7 (seven) working days after receiving a complete and valid dossier from an enterprise, a provincial-level State Bank branch shall send to the State Bank (the Foreign Exchange Management Department) a dossier of request for granting gold material import license, which includes:

a/ The provincial-level State Bank branch's document gives opinion on the enterprise's eligibility or ineligibility as prescribed in Article 3 of this Circular;

b/ The enterprise's dossier of request for licensing.

3. Within 30 (thirty) working days after receiving a dossier from a provincial-level State Bank branch, the State Bank shall send to that provincial – level State Bank branch a notice of approval or refusal for licensing.

4. Within 3 (three) working days after receiving the State Bank's notice, the director of a provincial-level State Bank branch shall grant or refuse to grant (clearly stating the reason) a gold material import license for manufacture of gold jewelry and art crafts (made according to the form 15 of this Circular).

Article 18. Principles of dossier compilation

1. The documents and materials of the dossiers being stipulated in Section 3 of this Circular must be the originals or notarized copies as prescribed by law.

2. Enterprises and credit institutions must be responsible for the accuracy and truthfulness of the documents and materials in their dossiers.

Section 5: REPORTING REGIME AND RESPONSIBILITIES FOR INSPECTION AND SUPERVISION

Article 19. Reporting duty of provincial-level State Bank branches

1. Provincial-level State Bank branches shall sum up and submit monthly and annual reports on management of gold business activities in their localities (made according to the form 12 of this Circular) to the State Bank Governor (through the Foreign Exchange Management Department). The deadlines for submitting reports are the 5th of the following month for monthly report and January 15 of the following year for annual report.

2. When granting certificate of eligibility for manufacture of gold jewelry and art crafts, a license for gold material import for manufacture of gold jewelry and art crafts or a license for temporary import of gold material for re-export of products to an enterprise, provincial-level State Bank branch shall send 1 (one) its copy to the State Bank (the Foreign Exchange Management Department).

Article 20. Reporting duty of enterprises and credit institutions engaged in gold business activities

1. Monthly and annually, enterprises and credit institutions being granted license for gold bar trading shall  report on their gold bar trading (made according to the form 10 of this Circular) to the State Bank (the Foreign Exchange Management Department) and provincial-level State Bank branches. The deadlines for submitting reports are the 5th of the following month for monthly report and January 15 of the following year for annual year.

2. Quarterly and annually, the gold traders shall report on their gold trading to the State Bank (the Foreign Exchange Management Department) and provincial-level State Bank branches according to the following provisions:

a/ Enterprises being granted a certificate of eligibility for manufacture of gold jewelry and art crafts shall report on their manufacture of gold jewelry and art crafts (made according to the form 11 of this Circular);

b/ Manufacturers of gold jewelry and art crafts being granted a gold material import license shall report on their gold material import for manufacture of gold jewelry and art crafts (made according to the form 6 of this Circular);

c/ Gold traders having a contract with foreign party of processing gold jewelry and art crafts and being granted a license for temporary import of gold material for re-export of products shall report on their gold material import and manufacture and export of gold jewelry and art crafts (made according to the form 7 of this Circular);

d/ Foreign-invested gold traders being granted a gold material import license shall report on their gold export and import and consumption of gold products in Vietnam (made according to the form 8 of this Circular).

3. The deadlines for submitting reports as prescribed in Clause 2 of this Article are on the 15th of the first month of the following quarter for quarterly report and on January 15 of the following year for annual report.

4. Every year, not later than on January 15, enterprises making offshore investment in gold mining and enterprises with gold mining license being granted the gold material import or export license shall report on their import or export of gold material (made according to the form 9 of this Circular) to the State Bank (the Foreign Exchange Management Department) and provincial-level State Bank branches.

5. Within 10 working days after having changes in branches or gold bar trading places, enterprises and credit institutions must notify in written to the State Bank (the Foreign Exchange Management Department), and enclosed with a notarized copy of the enterprise registration certificate and the branch operation registration certificate (which is re-granted, newly granted or modified).

Article 21. Responsibilities for inspection and supervision

The Banking Supervisory Agency and provincial-level State Bank branches shall inspect and examine and handle violations in gold business activities as prescribed in the Decree No. 24/2012/ ND-CP, this Circular and relevant laws.

Section 6 IMPLEMENTATION PROVISIONS

Article 22. Transitional provisions

1. Within 6 (six) months from the effective date of this Circular, enterprises and credit institutions trading gold bar may continue their gold bar trading and must complete procedures to make re-registration with business registration agencies and complete procedures to request for granting a gold bar trading license to the State Bank as prescribed in this Circular and relevant laws.

2. After the transitional period specified in Clause 1 of this Article, enterprises and credit institutions trading gold bar failing to obtain a gold bar trading license are not permitted to conduct gold bar trading.

3. After the transitional period specified in Article 21 of the Decree No. 24/2012/ND-CP manufacturers of gold jewelry and art crafts failing to obtain a certificate of eligibility for manufacture of gold jewelry and art crafts are not permitted to manufacture gold jewelry and art crafts.

Article 23. Effect

1. This Circular takes effect on July 10, 2012.

2. To annul the Circular No. 10/2003/TT-NHNN of September 16, 2003, of State Bank, guiding the implementation of the Government's Decree No. 174/ 1999/ND-CP of December 9, 1999, on management of gold business activities, and the Government’s Decree No. 64/2003/ND-CP of June 11, 2003, amending and supplementing the Decree No. 174/ 1999/ND-CP; to annul the Decision No. 1703/ 2004/QD-NHNN of December 28, 2004, amending and supplementing the Circular No. 10/ 2003/TT-NHNN.

3. The chief of the Office, the director of the Foreign Exchange Management Department and heads of units under the State Bank; directors of provincial-level State Bank branches; chairpersons of boards of directors or member councils and directors general (directors) of credit institutions; enterprises engaged in gold business activities and other related organizations and persons shall implement this Circular.-

 

 

FOR THE GOVERNOR OF
THE STATE BANK
DEPUTY GOVERNOR




Le Minh Hung

 


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