Thông tư 09/2004/TT-BTC

According to this Circular, which takes effect 15 days after its publication in the Official Gazette, non-agricultural cooperatives, and cooperatives whose outstanding debts shall not be handled under the Prime Minister’s Decision No. 146/2001/QD-TTg of October 2, 2001, shall have their debts handled according to the Prime Minister’s Decision No. 1197/QD-TTg of November 5, 2003.

Cooperatives’ debts to be handled under this Circular shall be debts owned to State-run commercial banks, State budget and/or State enterprises, which had arisen as from December 31, 1999 backwards and now cannot be repaid by the cooperatives.

Debt remission shall apply only to payable debts of cooperatives which have been dissolved or transformed and made business registration under the Government’s Decree No. 16/CP of February 21, 1997 but have suffered from losses and been unable to repay their debts due to objective reasons.- (Summary)