Thông tư liên tịch 07/2015/TTLT-TTCP-NHNN

JOINT CIRCULAR

GUIDANCE ON BLOCKADE OF ACCOUNTS OF INSPECTED ENTITIES

Pursuant to the Law on Inspection dated November 15, 2010;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010;

Pursuant to the Decree No. 86/2011/ND-CP on detailing and guiding on the implementation of a number of articles of the Law on Inspection dated September 22, 2011 by the government;;

Pursuant to the Decree No. 07/2012/ND-CP regulating on appointed authorities for specialized inspection and specialized inspection dated February 09, 2012 by the Government;

Pursuant to the Decree No. 83/2012/ND-CP on functions, responsibilities, powers and organizational structure of the Government Inspectorate dated November 09, 2012 by the Government ;

Pursuant to the Decree No. 156/2013/ND-CP on functions, responsibilities, powers and organizational structure of the State Bank of Vietnam  dated November 11, 2013 by the Government;

The Inspector General of the Government and the Governor of the State Bank of Vietnam issues this Joint Circular guiding on blockade of accounts of inspected entities.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Joint Circular releases guidelines on competence in blocking accounts; procedures and basis of blockade of accounts, cancellation of blockade of accounts of inspected entities; responsibilities of credit institutions and branches of foreign banks in Vietnam, where the suspected entity’s account is registered.

Article 2. Regulated entities

1. The Head of the Government Inspectorate, the head of the appointed  specialized inspection authority, the head of the competent State management authority that makes decision on administrative inspection and specialized inspection under regulations of laws on inspection.

2. Heads of administrative inspectorate and Heads of specialized inspectorate.

3. Credit institutions and branches of foreign banks in Vietnam (hereinafter referred to as credit institutions).

4. Inspected entities, relevant organizations, authorities and individuals.

Article 3. Rules for blockade of accounts of inspected entities

1. The blockade shall be imposed on suspicious inspected entities and shall be conducted in accordance with the procedure and competence regulated in this Joint Circular.

2. Respect and guarantee the legal rights of the inspected entity.

3. Only if the inspected entity is suspected to hide the property or disobey the decision on confiscation of cash or property, the inspected entity’s account shall be blocked.

4. The blocked account is the payment account of the inspected entity which is opened at a credit institution under regulations of Law on Credit Institutions.

5. A written request for blockade of an account shall be made as a decision on blockade of an account by a competent person.

Article 4. Responsibilities of information providers in account blockade

1. Authorities, organizations and individuals shall provide information on the inspected entity's accounts at credit institutions under regulations of Law on Credit Institutions.

2. The credit institution shall provide information related to customer’s deposits and property held by the credit institution in accordance with regulations of laws.

Chapter II

POWERS, BASIS AND PROCEDURES FOR BLOCKADE OF ACCOUNTS AND CANCELLATION OF DECISION ON BLOCKADE OF ACCOUNTS

Article 5. The power to request for blockade of an account

1. The following persons have the power to request blockade of an account:

Heads of administrative inspectorate and Heads of specialized inspectorate.

2. Decision makers of administrative inspection and decision makers of specialized inspection.

Article 6. Basis of blockade of an account

1. The inspected entity’s acts are suspected as hiding property including:

a) Transferring or preparing to transfer their money to other accounts with unclear purposes, contents and recipients;

b) Transferring right to ownership and/or right to enjoyment of property such as donation, mortgage, pledge, destruction or changes in status of property;

c) Falsifying accounting records.

2. The inspected entity fails to hand in cash and property on due date under the Decision on confiscation of cash and property issued by the Government Inspectorate or the competent State management authority.

Article 7. Procedures for requesting blockade of an account

1. Competent persons who request to block an account shall send the Decision on blockade of the account to the credit institution where the inspected entity and the accounts exist.

2. Decision on blockade of an account issued by competent persons is promulgated in Article 5 of this Joint Circular and shall be sealed by the inspection authority that releases the decision on inspection. The decision on blockade of an account shall specify the number of account, purposes of blockade, the scope of blockade; the amount of blocked cash, the starting time of blockade, the duration of blockade and responsibility of implementation of the credit institution and other information (if any).

The decision on blockade of an account shall be made according to the form 01 enclosed in this Joint Circular.

Article 8. Responsibilities of credit institutions where inspected entity’s accounts are opened

1. After the receipt of decision on blockade of the account issued by competent persons, the credit institution, where the inspected entity opens the account, shall block the account under the decision on blockade of account.

2. The credit institution shall inform the account holder of blockade of his/her account.

Article 9. Cancellation of decisions on blockade of accounts

1. Within 03 working days from the day on which the inspected entity completely abides by the decision on collection of cash and property or the basis of issuance of the decision on blockade of the account no longer exists, the competent person who makes decision on blockade of the account shall withdrawn this decision. The decision on blockade of the account shall be sent to the credit institution where the inspected entity and his/her accounts exist.

2. After the receipt of the decision on cancellation of blockade of the account issued by competent persons, the credit institution, where the inspected entity opens his/account, shall re-open the account under the Decision on cancellation of blockade of the account and inform the account holder of this decision.

The Decision on cancellation of blockade shall be made according to the form 02 enclosed in this Joint Circular.

Chapter III

IMPLEMENTATION

Article 10. Penalties for violations

Authorities, organizations and individuals who disobey the decision on account blockade and decision on cancellation of blockade of the account shall be suffered penalties, depending on the seriousness of each case, such as administrative penalties, discipline or criminal liability under regulations of laws.

Article 11. Entry into force

This Joint Circular comes into effect from January 10, 2016.

Article 12. Implementation organization

Any arising issues or concerns during the implementation of this Joint Circular shall be promptly report to the Government Inspectorate and the State Bank of Vietnam .