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Deposit Insurance Certificate Procedure |
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Pursuant to the
Document No 208/CV-BHTG10 dated 29/04/2004 by VDI General
Manager which announces the procedure for issuing and
withdrawing deposit insurance certificates.
Based on the missive No 357/CV-BHTG dated 13/07/2004 by VDI
General Manager
revising the document No 208/CV-BHTG10
Based on the announcement No 219/TB-BHTG dated 27/10/2004 by
VDI General Manager on issuing deposit insurance
certificates (DICs)
The procedure for issuing DICs is decided as follows:
All participant Institutions can apply for DICs, have their
old DICs renewed or apply for another to replace their lost
DICs
1.
For newly-joined Institutions:
a. Local VDI
Branches are responsible for providing instructions,
collecting and checking the application form and required
documentation submitted by participating Institutions in the
areas. Application forms should be completed and, together
with required documents, forwarded to local VDI Branches 30
days before the Institutions officially start operation. A
set of application must include:
- Completed Application form (samples available).
- Legal business documents (certified copies) including:
+ Business license (issued by the relevant authority).
+ Business register certificate (issued by the relevant
authority).
+ Memorandum of association (approved by the relevant
authority).
+ List of names of the Management Board, General Manager
(Director) and the Inspectorate (approved by the relevant
authority).
- Registered Capital Report (certified by the relevant
authority)
Within 5 days following the reception of the complete
application, the local Branch makes an official proposal for
the DIC accompanied by a copy of the complete application to
VDI General Manager. The local VDI Branch holds the
responsibility for the legality of the original set of
application.
b. Within 5 days
following the reception of the written proposal and the
required documentation from the local Branch, the
Headquarter's Checking and Assessment Section examines the
required papers and makes a written proposal to the General
Manager for the grant of DIC to the applicant. The VDI
office is responsible for printing and forwarding DICs to
local VDI Branches which are accountable for granting or
sending DICs to the applicants.
2.
Renewing and re-issuing DICs.
a. Institutions
wishing to have their DICs renewed or reissued as a result
of damage or loss need to make a written proposal explaining
the reason to the local VDI Branch. For the renewal of any
DIC, the old DIC and a set of certified copies of the
application form and required documents (see 1.a) must be
submitted.
b. The same order,
procedures of initial issuance of certificates of deposit
insurance shall be applied to replacement and re-issuance of
the certificates.
3.
Supplementation, replacement and re-issuance of certificates
of deposit insurance for Branches, point-of-sales (POS) of
insured Institutions for the use of display.
a. The General
Director of DIV hereby authorizes the Directors of regional
Branches of DIV to decide the supplementation, replacement
and re-issuance of certificates of deposit insurance for the
use of display at the Branches and POS of the insured
Institutions. The above-mentioned authorization shall be
effective from the date this document takes effect to the
time DIV promulgates the Regulations on issuance and
withdrawal of certificates of deposit insurance.
b. The insured
Institutions that needs supplementation of certificates of
deposit insurance because of its establishment of new level
one Branches and/or POS shall make a request in writing to
the relevant regional Branch of DIV where their headquarters
locate, accompanied by a copy of the Decision of
establishment or the written approval of the authorized
agency of the establishment of Branches and/or POS.
The level one Branch (that has acquired a certificate of
deposit insurance) of the insured institution that needs
supplementation of certificates of deposit insurance because
of its establishment of new Branches and/or POS shall make a
request in writing to the relevant regional Branch of DIV
where it locates, accompanied by a copy of the Decision of
establishment or the written approval of the authorized
agency of the establishment of Branches and/or POS.
c. The regional
Branch of DIV shall carry out a due diligence of submitted
documents and issue the certificate of deposit insurance
with the required number of copies. The certificates issued
to the Branches and/or POS of the insured institution shall
prescribe the name of the insured institution that acquired
the original certificate, the name of the Branches and/or
POS that acquired the supplementary certificates for the use
of display. The number and date of the certificates shall
comply with the numbering and dating system of the regional
Branch; the certificates shall be signed per procurationem
the General Director by the director of the regional Branch
and stamped with the seal of the regional Branch.
d. The Branches of
the insured Institutions who needs re-issuance or
replacement of the certificates in case of loss for the use
of display shall make a request in writing to the regional
Branch of DIV, which duly explains the reasons for
re-issuance or replacement, accompanied with the old
certificate (in case of replacement). Beside the content
prescribed in paragraph c above, the re-issued or replaced
certificates shall bear the expression "for replacement of
the certificate No. ... dated ...".
e. Every six
months (excluding the case of emergency), the regional
Branches of DIV shall prepare the tentative number of copies
of certificates of deposit insurance and make a request in
writing to DIV head office in June and December every year;
the head office shall collect and submit to the General
Director to decide the printing and distribution to the
Branches. The Branches shall maintain a registration of
copies of certificates of deposit insurance to be kept as
important valuables and make a quarterly report on the
issuance of certificates.
4. Display of
the certificate of deposit insurance at the insured
Institutions.
When dispatch the
certificates of deposit insurance to the insured
Institutions, the issuer shall request the insured
Institutions (in writing) to display the certificates at a
place of their offices and POS which can be easily seen by
the customers. When carrying out on-site inspection of the
insured Institutions, the inspectors shall detect and report
on the non-compliance of the regulations on display of the
certificates of deposit insurance. |
