What are regulations on time limits for collection or refund of securities service prices in Vietnam?

What are regulations on time limits for collection or refund of securities service prices in Vietnam?

Article 5 of Circular 101/2021/TT-BTC stipulates time limits for collection or refund of securities service prices as follows:

1. With regard to services charged annually as prescribed in the Price Schedule enclosed herewith, service users shall make payments to SEs or VSDC by January 31 every year.

2. With regard to services charged monthly as prescribed in the Price Schedule enclosed herewith, service users shall make payments to SEs or VSDC by the 15^th of the following month.

3. An organization that applies for registration as a new member of the SE or VSDC and applies for the first listing shall pay prices of registration service for derivatives trading member, member management service, derivatives trading member management service, initial online connection service, periodical connection maintenance service, terminal device user service, registration service as clearing member, registration service for derivatives clearing member, depository member management service, clearing member management service, derivatives clearing member management service, listing registration service, and listing management service within 05 (five) business days after the SE issues a Decision to grant trading membership, Decision to approve connection for online trading, Decision on approval of listing, or Decision to approve connection for remote trading, or after VSDC issues a Certificate of depository membership, clearing membership or derivatives clearing membership.

4. The SE or VSDC shall refund the collected charges on member management service, derivatives trading member management service, periodical connection maintenance service, terminal device user service, depository member management service, clearing member management service or derivatives clearing member management service to its member within 05 (five) business days after the SE issues a Decision to cancel membership or VSDC issues a Decision to revoke certificate of membership or to cancel membership.

5. The SE shall collect additional charges or refund overpaid charges on listing management service to the listed organization or the fund management company within 07 (seven) business days after the SE issues a Decision to approve changes in listing or notifies changes in quantity of listed securities, or from the effective date of delisting.

6. In case of transfer of listed shares from HNX to HOSE before or according to the schedule prescribed in the Minister of Finance’s Circular No. 57/2021/TT-BTC dated July 12, 2021 introducing roadmap for reorganization of markets for shares, bonds, derivatives and other securities (hereinafter referred to as “Circular No. 57/2021/TT-BTC”), HNX shall calculate charges on listing management service actually rendered and transfer the remaining amounts of collected service charges to HOSE from the date of suspension of trading of shares to be transferred to HOSE, and HOSE shall not charge on the initial application for listing of such transferred shares.

In case of transfer of listed bonds from HOSE to HNX according to the roadmap prescribed in the Circular No. 57/2021/TT-BTC, HNX shall not charge on the initial application for listing of such transferred bonds.

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