Quyết định 226/2002/QD-NHNN

DECISION

ON THE ISSUANCE OF THE REGULATION ON PAYMENT ACTIVITIES THROUGH PAYMENT SERVICE SUPPLIERS

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam; the Law on Credit Institutions dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government providing for the assignment, authority and responsibility for the State management of the ministries and ministerial-level agencies;
Pursuant to the Decree No. 64/2001/ND-CP dated 20 September, 2001 of the Government on the payment activities through payment service suppliers.
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. To issue in conjunction with this Decision the " Regulation on payment activities through payment service suppliers "

Article 2. This Decision shall be effective after 15 days from the signing date and replace the Decision No. 22-QD/NH1 dated 21 February, 1994 of the Governor of the State Bank on the issuance of the Rules on non-cash-payment, the Decision No. 144-QD/NH1 dated 30 June, 1994 of the Governor of the State Bank on the conditions for non-cash-payment in respect of People Credit Funds.

Article 3. Head of the Administration Department, Heads of units of the State Bank of Vietnam, General Managers of State Bank branches in provinces, cities under central Government management, General Directors (Directors) of payment service suppliers, organizations, individuals using payment service shall be responsible for the implementation of this Decision.

REGULATION

ON PAYMENT ACTIVITIES THROUGH PAYMENT SERVICE SUPPLIERS
(issued in conjunction with the Decision No. 226 dated 26 March, 2002 of the Governor of the State Bank)

Chapter I

GENERAL PROVISIONS

Article 1. Subjects, governing scope

1. This Regulation shall be applicable to subjects that perform payment activities as follows:

a. Payment service suppliers shall include:

- The State Bank of Vietnam (hereinafter referred to as the State Bank);

- Banks which are established and operate under the Law on Credit Institutions including: commercial banks, development banks, investment banks, policy banks, cooperative banks and other banks;

- The Central People Credit Fund;

- Non-bank credit institutions which provide payment service under the permission of the State Bank;

- Other organizations which are not credit institutions but permitted by the State Bank to provide;

b. The payment service user which are organizations, individuals.

2. This Regulation shall be applicable to domestic and international payment activities through payment service suppliers in the Vietnamese territory including:

a. Opening of payment accounts;

b. Provision and use of payment services;

c. Organization of and participation in payment systems.

3. All payment activities through payment service suppliers shall be performed in compliance with provisions of this Regulation and other documents of the State Bank relating to payment activities.

Article 2. Conditions for provision of payment service in respect of organizations which are not a bank

1. The opening of accounts, provision of payment services by the State Treasury shall be made in compliance with provisions of this Regulation and other related applicable laws.

2. The opening of accounts, provision of payment services by the Central People Credit Fund shall be in compliance with provisions of this Regulation and other related legal documents.

3. The opening of accounts, provision of payment services by the local People Credit Funds shall mainly be in service of their members when there is permission of the State Bank.

4. The opening of accounts, provision of payment services by organizations which are not credit institutions shall be performed under permission of the State Bank if following conditions are fully met:

a. Availability of establishment license, operation license, business registration certificate granted by the competent authorities;

b. Availability of a payment activities plan which proves that:

- The payment services for which the permit is requested are necessary and closely related to the operation of the organization itself.

- Material conditions for the performance of the proposed payment services are fully satisfied.

- Availability of professionally well - qualified employees for the management and performance of the proposed payment services.

c. Sufficient provision of related information and documents at the request of the State Bank is made when considering the issuance of the payment services permission and legal responsibility for the accuracy, truth of the provided information is taken.

Article 3. Conditions for provision of international payment service in respect of banks and other non-bank organizations

1. In respect of banks: the bank concerned shall be a bank which is entitled to conduct foreign exchange activities and fully satisfies material conditions, possesses professionally well - qualified employees for the management and performance of the international payment services.

2. In respect of non-bank organizations: the organization concerned shall be entitled to provide the international payment services if it fully meets following conditions:

- Being entitled to conduct foreign exchange activities under provisions of applicable laws;

- International payment services are necessary and closely related to their main activities;

- Satisfaction of full material conditions for the performance of the international payment services.

- Availability of professionally well - qualified employees for the management and performance of the international payment services.

Article 4. Opening and use of payment account

1. Payment service suppliers are entitled to open account at the request of the following organizations and individuals unless the laws do not provide otherwise:

a. Foreign credit institutions operating in foreign countries.

b. Vietnamese and foreign organizations which are entitled to operate in the Vietnamese territory;

c. Individuals being Vietnamese citizens with civil legal capacity and civil acting capacity.

d. Foreign individuals with civil legal capacity and civil acting capacity under the laws of the nation of which they are citizens.

2. Types of payment account, nature of payment accounts, conditions, procedures of opening and use of payment accounts shall be stipulated by payment service suppliers in accordance with provisions of the State Bank and other related provisions of applicable laws.

Article 5. Security of payment capacity

1. The account holders shall be obliged to ensure the sufficient balance in payment accounts at the time when payment transactions must be performed under the payment orders prepared by themselves or the agreement between them and the payment service suppliers, except for the case of overdraft provided for in paragraph 2 of this Article.

2. Organizations, individuals using payment services shall only be entitled to make overdraft payment in accordance with the overdraft level which was agreed in written with payment service suppliers provided that these agreements are not contrary to provisions of related applicable laws.

Article 6. Foreign exchange control on payment activities.

Payment service suppliers, payment service users shall comply with provisions on foreign exchange control of the Government, the State Bank in the opening of accounts, performance and use of payment service.

Chapter II

USE AND PERFORMANCE OF PAYMENT SERVICE

Section 1. PAYMENT ORDERS, PAYMENT VOUCHERS

Article 7. Payment orders and performance of payment orders

1. Payment orders shall be orders made by payment service users to payment service suppliers in form of paper vouchers or electronic vouchers or other forms in accordance with provisions of the competent authorities to require the payment service suppliers to perform payment transactions.

2. Payment service suppliers shall be responsible for the adjustment of a payment transaction in case where they have performed the payment transaction not in line with the payment orders prepared by payment service users.

Article 8. Payment vouchers

1. Payment vouchers shall be the basis for the performance of the payment transactions. Payment vouchers shall be prepared in the form of paper vouchers or electronic vouchers or other forms in accordance with provisions of the competent authorities.

2. Types of payment vouchers, elements of vouchers, the preparation, control, circulation, preserve and maintenance of vouchers, responsibilities of payment service users and suppliers shall be implemented in accordance with provisions of the State Bank and other related provisions of applicable laws on payment vouchers.

Section 2. PAYMENT INSTRUMENTS, PAYMENT INSTRUMENT SUPPLY

Article 9. Payment instruments

Payment instruments shall include:

1. Cash: which is the paper money and coins issued by the State Bank and used as legal tender in the territory of Vietnam.

2. Cheques: which are payment orders of account holders made in accordance with provisions of applicable laws to instruct payment service suppliers to deduct an amount of money from their checking account to pay the payee with the name stated on the cheque or to the cheque holder.

3. Payment orders: which are payment instruments made by payers in accordance with the form stipulated by payment service suppliers and sent to payment service suppliers where their accounts are opened to instruct those suppliers to deduct an amount of money from their checking account to pay the payee with the name stated on the cheque or to the cheque holder.

4. Collection orders: which are payment instruments prepared by payees in accordance with the form stipulated by payment service suppliers and sent to entrusted payment service suppliers to request those suppliers to collect a certain amount of money in lieu of them.

5. Bank cards: which are payment instruments issued by the payment service suppliers and granted to payment service users for use in accordance with the contract signed between the payment service suppliers and the payment service users.

6. Other payment instruments such as bills of exchange and promissory notes, etc. in accordance with provisions of applicable laws.

Article 10. Supply of payment instruments

1. Cash supply

Payment service suppliers shall be obliged to satisfy fully, timely the requirements of cash transfer and withdrawal by payment service users within the account balance and the agreed overdraft limit of account holders in accordance with provisions of applicable laws.

Payment service suppliers shall be entitled to negotiate with payment service users on the notice in advance when the amount of cash withdrawal is substantial.

2. The supply of cheque shall comply with provisions of the Government and guidance of the State Bank on the issuance and use of cheques.

3. The supply of payment orders, collection orders shall comply with provisions of the Government and guidance of the State Bank on payment vouchers.

4. The supply of bank cards shall comply with provisions of the Government and guidance of the State Bank on the issuance, use of bank cards.

5. The supply of other payment instruments shall comply with provisions of related applicable laws.

Section 3. DOMESTIC PAYMENT SERVICES

Article 11. Provision of domestic payment services

1. Domestic payment services shall be services for which the payment transactions are established, performed and completed in the Vietnamese territory, except for the case where there the payment is related to the accounts opened abroad or where there is the participation of export enterprises.

2. Domestic payment services shall include the forms of payment provided for in Articles 12 to 17 of this Regulation.

Article 12. Cheque payment

1. The process, procedure of performance of cheque payment shall be in accordance with provisions of the Government and the State Bank on the issuance and use of cheques, except for the provisions on payment security which shall be performed in accordance with provisions in paragraph 2 of this Article.

2. Cheque drawers (account holders or the persons authorised by account holders) shall be obliged to secure the payment of the cheque drawn by them.

Cheques with secured payment shall be cheques which satisfy one of the two following conditions upon the presentation at the payer payment service suppliers:

- The account balance of the account holder is sufficient to pay for the amount stated on the cheque.

- The account balance plus the overdraft limit is sufficient to pay for the amount stated on the cheque.

Article 13. Payment by payment orders, payment authorizations

1. Payment orders or payment authorizations shall only be applicable in payment for goods, services or for money transfer made by payment service users within the same payment service supplier or between payment service suppliers.

2. Payment orders shall include following elements:

- The words "payment order" or "payment authorization" and the serial number;

- Full name, address, code of the payer's account.

- Business name, address of the payer's payment service supplier;

- Full name, address, code of the payee's account;

- Business name, address of the payee's payment service supplier;

- The amount of money in words and in number;

- The place, date of making the payment order;

- The signature of the account holder or the person authorized by the account holder;

- Other elements stipulated by payment service suppliers which are not contrary to the applicable laws.

3. Conditions for, procedures of payment, performance term of payment orders shall be agreed upon by payment service suppliers and payment service users in accordance with provisions of the State Bank.

4. Within one working day from the receipt of a payment order or a payment authorization from the payer's payment service supplier, payee payment service supplier shall credit to the payee's account as instructed in the payment order or payment authorization.

Article 14. Payment by collection orders or collection authorizations

1. Payment by collection orders or collection authorizations shall be applicable in payment transactions between payment service users who have accounts opened in the same payment service supplier or between payment service suppliers on the basis of an agreement or a contract on the conditions for collection between the payer and the payee.

2. A collection order or authorization shall include following elements:

- The words "collection order" or "collection authorization" and the serial number;

- Full name, address, code of the payee's account.

- Business name, address of the payee's payment service supplier;

- Full name, address, code of the payer's account;

- Business name, address of the payer's payment service supplier;

- The number of the contract (or order, agreement) which shall be the basis for collection; the quantity of enclosed vouchers;

- The amount of money in words and in number;

- The place, date of preparation of the collection order;

- The date when the payer's payment service supplier makes the payment;

- The date when the payee's payment service supplier receives the amount of payment;

- Other elements shall be stipulated by the payment service supplier which are not contrary to the applicable laws.

2. Conditions for, procedures of payment, performance and term of collection orders or collection authorizations shall be agreed upon by payment service suppliers and payment service users in accordance with provisions of the State Bank.

3. Within one working day from the receipt of a collection order or collection authorization from the payee's payment service supplier, the payer's payment service supplier shall complete the deduction of account of the payer if the remaining balance of the payer's account is sufficient to perform; or inform the payer if the remaining balance in his account is insufficient for the performance of the payment transaction.

Article 15. Payment by bank cards

Payment by bank cards shall be performed in accordance with provisions of the State Bank on the bank card issuance, use and payment

Article 16. Payment by letter of credit

1. Letter of credit shall be a conditional written undertaking opened by banks at the request of a payment service user (the applicant for opening the letter of credit), under which, banks shall perform the requests of the payment service users (the applicant for opening letter of credit) in order to:

- Effect the payment or authorize other banks to effect the payment immediately at the instruction of the payee upon receipt of a set of presented documents satisfying the conditions of letter of credit; or

- Accept to make the payment or authorize other banks to make the payment at the instruction of the payee at a specific future time upon receipt of a set of presented documents satisfying conditions of letter of credit.

2. The opening, issuance, amendment, notification, confirmation, examination of the payment documents and rights, responsibilities, etc. of related parties in payment by letter of credit shall be applicable upon the agreement of parties engaging in the payment and in accordance with current applicable laws of Vietnam.

Article 17. Other forms of domestic payment

The payment made through other forms of domestic payment shall be implemented in accordance with provisions of the State Bank.

Section 4. INTERNATIONAL PAYMENT SERVICE

Article 18. The performance of international payment service

1. The international payment service shall be the service where payment transactions are covered by one of the following cases:

a. Payment transactions are established or performed or completed in foreign countries; or the payment transactions are related to accounts opened abroad;

b. Payment transactions with the participation of export enterprises.

2. International payment service shall include forms of payment stipulated in the Article 19.

Article 19. Forms of international payment

1. Payment by letter of credit: The opening, issuance, amendment, notification, confirmation, examination of documents, payment and rights, obligations, etc. of related parties in payment by letter of credit shall be performed in accordance with general principles on documentary credits issued by the International Chamber of Commerce (ICC) and applicable upon agreement of parties engaging in the payment in accordance with current applicable Vietnamese laws.

2. Payment by international payment cheques, payment orders, payment authorizations, collection orders, collection authorizations, international cards and other forms of payment: process, procedures of payment shall be performed in accordance with international custom and rule and agreements provided that they are not contrary to Vietnamese laws.

Section 5. COLLECTION, PAYMENT SERVICES

Article 20. Collection, payment services

1. The collection service shall be a payment service performed by payment service suppliers at the request of the payee in order to obtain the immediate payment or the payer's acceptance of payment at a specific future time. Collection service shall include the receipt, treatment of documents sent for collection and payment of the collection's result; cancellation of collection at the request of payment service users.

Forms of collection shall include: cheque collection, commercial paper, collection order and other forms of collection for customers upon agreements which are not contrary to the laws.

2. Payment service shall be a payment service performed by payment service suppliers at the request of the payer in order to pay the payee.

Forms payment service shall include: cards, cheques payment agents and other forms of agents, entrustment or payment in lieu of customers in accordance with agreement which are not contrary to the laws.

Chapter III

ORGANIZATION OF AND PARTICIPATION IN PAYMENT SYSTEMS

Article 21. Payment system, leading unit and members of payment system

1. Payment system shall be the system organized in accordance with rule, conditions and general criteria for payment on the basis of an agreement or regulation between the leading payment service supplier of the system and direct members in order to conduct the transfer and settlement of payment obligations between members.

2. The leading unit of the payment system shall be the payment service supplier responsible for organization of the payment system that issues of or agrees with direct members on rules, conditions and general criteria for the operation of the payment system.

3. Direct members shall be members of the payment system which are obliged to settle payment transactions performed at the request of their payment service users or of indirect members which they represent with the leading payment service supplier of the system or with other direct members.

4. Indirect members shall be members which do not have full conditions for being a direct member of the payment system, conduct payment transactions through the payment system via a direct member of the payment system that represent them and shall only be obliged to settle with that direct member.

Article 22. Organization of the intra-payment system

1. The intra-payment system shall be the payment system established to conduct the payment transactions between direct members which are units of the leading payment service supplier.

2. Banks are entitled to organize the intra-payment system for direct members that are their units.

General managers (managers) of banks shall be responsible for the organization of operation, technical equipment criteria and means in service, officers operating the intra-payment system, provisions on conditions, criteria, participation procedures for members of the intra-payment system, provisions on prudential measures, fraud prevention, technical process relating to the operation of the intra-payment system.

3. The State Treasury, the Central People Credit Fund shall organize the intra-payment system in accordance with provisions in Paragraph 2 of this Article.

4. Other organizations which are entitled to conduct payment services and are not covered by subjects provided for in Paragraph 2 and Paragraph 3 of this Article shall organize the intra-payment system upon the permission of the State Bank.

Article 23. Organization and participation in the inter-bank payment

1. Banks, the State Treasury, the Central People Credit Fund shall organize and participate in bilateral inter-bank payment with other payment service suppliers by:

a. Opening payment accounts at that payment service supplier;

b. Allowing payment service suppliers to open payment account with them.

Conditions for, procedures of, commitment, provisions on payment between two parties shall be agreed upon by themselves in accordance with applicable laws.

2. Other organizations entitled to conduct payment service which are not covered by subjects provided for in Paragraph 1 of this Article shall organize and participate in inter-bank payment upon the permission of the State Bank.

3. The State Bank shall organize the inter-bank payment for performance of payment transactions between direct members which are the State Bank, credit institutions, other organizations entitled to conduct payment services,

The inter-bank payment system of the State Bank shall be organized under two following forms:

a. Clearing payment which consist of paper clearing payment and electronic clearing payment.

The State Bank shall stipulate conditions for members to participate in the clearing payment and have the right to suspend the participation in the clearing payment of a participating member in case where that member violates provisions of the State Bank on clearing payment.

On the basis of payment transactions volume in the day, the State Bank shall stipulate the number of clearing sessions in each day for participating members.

Direct members shall make the net settlement at the closing time of the clearing session.

b. Payment through deposit account at the State Bank shall include the following forms: payment by paper documents and electronic payment.

The State Bank shall stipulate conditions for members to participate in the clearing payment system, have the right to suspend the participation by a member in the payment in case where that member violates provisions on payment through deposit account at the State Bank.

Direct members shall immediately make the gross settlement upon performance of a payment order. The State Bank shall have the right to refuse the performance of a payment order sent by a member in case where the balance plus the overdraft limit (if any) in its account is not sufficient to settle that ordered payment.

Priority order of payment through deposit account at the State Bank shall be as follows:

- Urgent payment orders shall be performed first.

- Early arrived payment orders shall be performed first.

In case where payment orders arrive but the balance plus the overdraft limit (if any) in the account of the member sending order is not sufficient for settlement, that member shall be entitled to change the priority order of the payment or to perform the next payment order.

4. Credit institutions, other organizations conducting payment services shall be direct members of the inter-bank payment system organized by the State Bank if they fully meet conditions provided for by the State Bank.

Credit institutions, other organizations conducting payment services may become indirect members of the inter-bank payment system organized by the State Bank if they do not fully meet conditions for a direct member.

Article 24. Settlement and guarantee of settlement capacity

1. Settlement shall be payment made by a participating member of a payment system in order to perform the payment obligation that arises when performing payment orders via payment system with other members of the payment system. Settlement shall include two following types:

a. Net settlement shall be settlement performed by each participating member in respect of the clearing result between receivable amount and payable amount during a clearing session.

b. Gross settlement shall be the settlement made in respect of the total amount of each payment order right after the issuance of that payment order.

2. Payment service suppliers which are direct members of the inter-bank payment system shall make the settlement in accordance with provisions at Point a and Point b, Paragraph 3, Article 23 of this Regulation.

3. In case where the balance in the account is insufficient for performance of the payment order, payment service suppliers shall be obliged to:

a. Arrange by themselves the funding sources or borrow from other credit institutions for settlement.

b. Borrow from the State Bank under the conditions provided for by the State Bank.

Chapter IV

RIGHTS AND OBLIGATIONS OF PARTIES ENGAGING IN THE PAYMENT ACTIVITIES

Article 25. Rights of payment service suppliers

1. To stipulate payment service fee in respect of payment services provided by them, prudential measures, fraud prevention for payment safety, to close the account when it become inoperative for a long time and where its balance is lower than the level provided for by payment service suppliers; to stipulate the overdraft limit and other provisions not contrary to the laws.

2. To request payment service users to provide related information upon their use of payment services and during the process of their use of payment services.

3. To refuse providing payment services when payment service users do not meet sufficient conditions for use of payment services or fail to comply with provisions of payment service suppliers or violate other agreements.

Article 26. Obligations of payment service suppliers

1. To perform payment transactions timely, safely at the request of payment service users, publicly announce payment service fee, to keep secret on information relating to payment accounts of payment service users, except for the cases stipulated by laws, to settle or respond to complaints made by payment service users within the scope of their competence;

2. To refuse carrying out payment transactions the source of which has been evidenced as illegal.

3. Not to hide from State competent agencies the payment service users, the amount of payment and other related information in respect of payment transactions the source of which has been evidenced as illegal.

4. To provide account holders with information as stipulated in Article 31 of this Regulation; to report the State Bank in accordance with provisions in Article 32 of this Regulation.

Article 27. Rights of payment service users

1. To negotiate with payment service suppliers on the overdraft limit and other agreements not contrary to the laws.

2. To request payment service suppliers to provide information in accordance with provisions in Article 31 of this Regulation.

3. To lodge a complaint with payment service suppliers and claim for compensation when payment service suppliers perform a payment transaction after the agreed timing; fail to perform the payment transaction or perform the payment transaction with incorrect amount of money or to incorrect payee as required in the payment order; fail to collect payment service fee in accordance with the type or level publicly announced by payment service suppliers and other violations.

Article 28. Obligations of payment service users

1. To pay payment service fee to payment service suppliers; to repay the overdraft amount in the payment account fully and timely (if it is agreed) and pay the interest on that overdraft amount as stipulated by payment service suppliers and fully comply with other provisions of payment service suppliers.

2. To return to payment service suppliers any amount of money they have benefited without a legal basis through payment services provided by payment service suppliers.

Article 29. Responsibilities for damage compensation

1. In case where a payment transaction is made not in time due to failure on the part of payment service suppliers which has caused damages to payment service users, payment service suppliers shall be responsible to compensate the payment service user for the damage at the late payment penalty which is, at the maximum, equal to the overdue interest rate of the highest lending rate at the payment services suppliers that has committed the violation; the number of days and the beneficiary of the penalty payment shall be calculated as follows:

a. In respect of the late payment, the days subject to penalty shall be counted from the end of the stipulated term of that payment to the day when the account of the payment service user is credited with the full amount.

b. In case where the account is wrongly debited or excessively debited with the amount paid, the days subject to penalty shall be counted from the time when the account is wrongly debited to the time when the account of the payment service user is refunded in full by payment service suppliers after the error adjustment and calculated on the excess amount.

c. In case where the account is wrongly credited or not sufficiently credited, the days subject to penalty shall be counted from the end of the duration stipulated for that type of payment to the time when the correct account or the shortfall amount of the payment service users is credited in full after the adjustment of the error and calculated on the shortfall amount.

2. In case where payment service users, payment service suppliers violate provisions published by payment service suppliers, agreements, commitments between payment service users and payment service suppliers thereby causing damages, the damaging party shall be obliged to compensate for such damages.

Article 30. Dispute and dispute settlement

1. In case where there arise complaints or disputes between payment service suppliers and payment service users, related parties shall settle their disputes by mutual agreement.

2. In case where disputes are not settled by agreement, both parties shall agree on the disputes settlement agency for settlement.

3. In case where related parties do not come to an agreement on settlement of disputes and the disputes settlement agency, they shall be entitled to file a law suit to the legal agency.

Chapter V

INFORMATION, REPORT AND INFORMATION SECURITY

Article 31. Information

1. Payment service suppliers shall be obliged to inform periodically to account holders on balance and payment transactions in their accounts.

3. Payment service suppliers may provide irregular information in case of request by account holders.

Article 32. Reporting

1. Monthly, payment service suppliers shall make report on payment activities according to norms stipulated by the State Bank.

2. In addition to periodically reports, payment service suppliers shall be obliged to report at the request of the State Bank for the purpose of State management on payment activities.

Article 33. Information security

The safeguard, record and provision of information relating to deposits of payment service users at payment service suppliers shall be in accordance with provisions of applicable laws.

Chapter VI

VIOLATIONS AND DEALING WITH VIOLATIONS

Article 34. Dealing with violations

1. Organizations which, individuals who violate any provisions of this Regulation shall, depending on the nature and seriousness of the violation, be subject to administrative sanctions in accordance with applicable laws or prosecuted for criminal liability;

2. Payment service suppliers which commit violations may be suspended or withdrawn the license on payment activities by the State Bank;

3. Payment service users who commit violations may be deprived of their rights to use payment service provisionally or permanently by the State Bank, payment service suppliers in accordance with provisions of applicable laws.

Chapter VII

IMPLEMENTING PROVISIONS

Article 35. Responsibility for implementation

General Managers (Managers) of payment service suppliers shall be responsible for providing detailed guidance on the payment operation to their units and disseminate to payment service users for their knowledge.

Article 36. Amendment, supplement.

The amendment, supplement of this Regulation shall be under the power of the Governor of the State Bank.