Quyết định 172/1999/QĐ-TTg

Article 1.- To allow credit institutions to establish their dependent securities companies with legal person status and independent cost-accounting. The chairmen of the Managing Boards of the credit institutions shall decide the establishment of securities companies after getting the consent of the State Bank of Vietnam.

Article 2.- To assign the State Bank of Vietnam to stipulate the transfer of shares of the joint-stock commercial banks and issue relevant regulations so as to create conditions for the qualified banks to participate in share listing at the securities trading centers.

Article 3.- To assign the Ministry of Finance to study and guide financial mechanism and provide financial support for the securities companies under the credit institutions and those under the Corporation during the first three years of their operation.

Article 4.- This Decision takes effect after its signing.

Article 5.- The Minister of Finance, the State Bank Governor, the Chairman of the State Securities Commission, the chairmen of the Managing Boards of the credit institutions and corporations shall have to implement this decision.