CIRCULAR

PROVIDING FOR CHARGE AND FEES RATES AND THE COLLECTION, REMITTANCE, MANAGEMENT AND USE OF SECURITIES CHARGES AND FEES BY THE STATE SECURITIES COMMISSION

THE MIMSIRY OF FINANCE

Pursuant to the Government's Decree No. 57/ 2002/ND-CP of June 3, 2002, detailing the Ordinance on Charges and Fees and the Government's Decree No. 24/2006/ND-CP of March 6, 2006, amending and supplementing a number of articles of Decree No. 57/2002/ND-CP of June 3, 2002, detailing the Ordinance on Charges and Fees;
Pursuant to the Government's Decree No. 14/ 2007/ND-CP of January 19, 2007, detailing the
Securities Law;
Pursuant to the Government's Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Prime Minister's Decision No. 29/2009/QD-TTg of February 20, 2009, on the State Securities Commission's autonomy in payrolls and operation funds;
The Ministry of Finance provides for charge and fee rates and the collection, remittance, management and use of securities charges and fees by the State Securities Commission as follows:

Article 1. Charge- and fee-liable jobs and charge and fee rates

1. Subject to charges and fees are jobs related to the grant of securities operation licenses.

2. The rates of securities charges and fees collected by the State Securities Commission are specified in the Table of charge and fees rates issued together with this Circular.

Article 2. Charge and fee payers

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Article 3. Charge and fee collection, remittance, management and use

1. Securities charges and fees collected by the State Securities Commission constitute state budget revenues. The charge- and fee-collecting agency (the State Securities Commission) may use the whole collected amount of charges and fees under the Prime Minister's Decision No. 29/2009/QD-TTg of February 20, 2009, on the State Securities Commission's autonomy in payrolls and operation funds and guiding documents.

2. Securities charges and fees collected by the State Securities Commission shall be collected in Vietnam dong. Organizations and individuals, when being granted practice certificates, shall pay fees in lump sum.

Article 4. Implementation provisions

1. This Circular takes effect 45 days from the date of its signing. Provisions on securities charges and fees collected by the State Securities Commission prescribed in the Finance Ministry's Circular No. 110/2002/TT-BTC of December 12, 2002, guiding the collection, remittance, management and use of banking, securities and insurance charges and fees are annulled.

2. Other matters related to the collection, remittance, management and use of charges and fees, collection receipts and publicization of the collection of securities charges and fees by the State Securities Commission comply with the Finance Ministry's Circular No. 63/2002/TT-BTC of July 24, 2002, guiding the implemen­tation of regulations on charges and fees; Circular No. 45/2006/TT-BTC of May 25. 2006. amending and supplementing Circular No. 63/ 2002/TT-BTC of July 24, 2002, guiding the implementation of regulations on charges and fees, and Circular No. 60/2007/TT-BTC of June 14, 2007, guiding a number of articles of the Law on Tax Administration and the Government's Decree No. 85/2007/ND-CP of May 25. 2007. detailing a number of articles of the Law on Tax Administration.

3. Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for study and additional guidance.

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TABLE OF RATES OF SECURITIES CHARGES AND FEES COLLECTED BY THE STATE SECURITIES COMMISSION

No.

Charge and fee

Rates

1

Fee for grant of an operation license for a securities company

a

...

...

...

VND 20 million

b

Dealing

VND 60 million

c

Issuance underwriting

VND 100 million

d

Securities investment consultancy

...

...

...

2

Fee for grant of an operation license for a fund management company

VND 30 million

3

Fee for grant of an operation license for a subsidiary of a foreign fund management company

VND 20 million

4

Fee for grant of an operation license for a Vietnam-based representative office of a foreign securities organization

VND 1 million/license

...

...

...

Fee for grant of an establishment and operation license for a public securities investment fund capitalized at:

a

Between VND 50 billion and under 150 billion

VND 20 million

b

Between VND 150 billion and under 250 billion

VND 35 million

c

...

...

...

VND 50 million

6

Fee for grant of an establishment and operation license for a member fund capitalized at:

a

Between VND 50 billion and under 150 billion

VND 10 million

b

Between VND 150 billion and under 250 billion

...

...

...

c

VND 250 billion or more

VND 30 million

7

Fee for approval of the public offering of stocks, bonds and fund certificates valued at:

a

Under VND 50 billion

VND 10 million

...

...

...

Between VND 50 billion and under 150 billion

VND 20 million

c

Between VND 150 billion and under 250 billion

VND 35 million

d

VND 250 billion or more

VND 50 billion

8

...

...

...

a

Between VND 50 billion and under 150 billion

VND 20 million

b

Between VND 150 billion and under 250 billion

VND 35 million

c

VND 250 billion or more

...

...

...

9

Fee for grant of an establishment license for a branch of a domestic securities company or securities investment fund

VND 10 million/license

10

Fee for grant of a practice license for individuals providing securities or fund management services

VND 1 million/license

11

Fee for grant of a license for securities depository operation

VND 6 million/license

...

...

...

Fee for public company management

VND 10 million/year

13

Supervision fee

a

For the Stock Exchange and the Securities Trading Center

0.01% of the value of traded stocks or fund certificates which must not exceed 20% of total turnover from stock and fund certificate trading fees

b

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10% of turnover from depository and account transfer fees