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Resolution Amendment and supplement to Resolution No. 140/2015/NQ-HDND dated July 11, 2015 approving the scheme on establishment of Credit Guarantee Fund for small and medium-sized enterprises in Lam Dong province 

THE PEOPLE'S COUNCIL OF

LAM DONG PROVINCE

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

No.: 128/2019/NQ-HĐND

Lam Dong, July 10, 2019

 

RESOLUTION

Amendment and supplement to Resolution No. 140/2015/NQ-HDND dated July 11, 2015 approving the scheme on establishment of Credit Guarantee Fund for small and medium-sized enterprises in Lam Dong province

 

PEOPLE'S COUNCIL OF LAM DONG PROVINCE

COURSE IX, 8TH MEETING

Pursuant to the Law on Organization of People's Councils and People's Committees dated November 26, 2003;

Pursuant to the Government's Decree No. 34/2018/ ND-CP of March 08, 2018, on the establishment, organization and operation of the Credit Guarantee Fund  for small and medium-sized enterprises;

Considering Report No. 3771 / TTr-UBND of June 20, 2019, of the People's Committee of Lam Dong province, on the promulgation of Resolution of amendment and supplement to Resulotion 140.2015/NQ-HDND dated July 11, 2015 approving the scheme on establishment of Credit Guarantee Fund for small and medium-sized enterprises in Lam Dong province; Verification report of Economic and Budget Department of Provincial People's Council and discussion opinions of delegates of the provincial People's Council at the meeting,

RESOLUTE:

Article 1. To amend and supplement a number of contents of Resolution 140.2015/NQ-HDND dated July 11, 2015 approving the scheme on establishment of Credit Guarantee Fund for small and medium-sized enterprises in Lam Dong province

1. Clause 1, Article 1 is amended and supplemented as follows:

"1. Credit Guarantee Fund for small and medium-sized enterprises in Lam Dong province (hereinafter called the Fund for short) is a non-budget state financial fund established by the provincial People's Committee, operating without a profit profit, preserve and develop capital; perform the function of providing credit guarantees for small and medium-sized enterprises in accordance with the Government's Decree No. 34 / ND-CP of March 8, 2018 on establishing , organization and operation of the credit guarantee fund for small and medium-sized enterprises (hereinafter referred to as Decree No. 34/2018 / ND-CP) and related laws. single member limited liability company with 100% state owned charter capital.

The Fund has legal status, charter capital, separate financial statements, seals, is allowed to open accounts at the State Treasury and credit institutions legally operating in Lam Dong province.

The Fund earns income from activities due to the performance of credit guaranteeing tasks as prescribed in Decree No. 34 / ND-CP of March 8, 2018 on establishing , organization and operation of the credit guarantee fund for small and medium-sized enterprises. In cases where the Fund has income from activities other than credit guarantee activities, it must pay tax according to the tax law."

2. Clause 4, Article 1 is amended and supplemented as follows:

“4. The Fund's capital is formed from the following sources:

a) Equity:

- Charter capital provided by the provincial budget: VND 100 billion;

- Additional capital from the Fund's operating results as prescribed;

- Capital formed from grants, aids and non-refundable contributions of domestic and foreign organizations and individuals to the Fund;

- Other state capital as prescribed by law;

- Other capital sources of equity as prescribed by law.

b) Capital mobilized: Capital mobilized from financial and credit institutions at home and abroad according to the provisions of law and internal regulations of the Fund must ensure its compatibility with the Fund's solvency.

b) Other capital amounts include:

- Capital entrusted by local administrations, local financial funds, domestic and foreign organizations and individuals (mandators) to fulfill the mandate requirements according to law provisions, and Decree No. 34 / ND-CP of March 8, 2018.

- Other lawful capital sources as prescribed by law.”

3. Clause 5, Article 1 is amended and supplemented as follows:

“5. Subjects to be granted credit guarantee:

a) Subjects granted by the Credit Guarantee Fund are small and medium-sized enterprises under the provisions of the Law on Support for Small and Medium-sized Enterprises and guiding documents, which have development potential but have not yet qualified to access credit. use the bank in the areas of credit priority as prescribed in Decree No. 34 / ND-CP of March 8, 2018.

b) Small and medium-sized enterprises that borrow capital for investment, production and business in the following fields will be given priority to consider granting credit guarantees:

- Fields of priority given credit under the guidance of the State Bank of Vietnam in each period;

- Fields or projects in the local socio-economic development priority domains promulgated by the provincial People's Committees in each period. "

4. Clause 6, Article 1 is amended and supplemented as follows:

"6. Conditions for a credit guarantee:

Subjects entitled to credit guarantee prescribed in Clause 5 of this Article shall be considered and granted by the Fund to fully meet the following conditions:

a) Having an effective investment project, production and business plan that is capable of repaying the loan.

b) Investment projects, production and business plans appraised by the Fund and guaranteed under the provisions of

c) There is a plan on equity of at least 20% participating in investment projects, production and business plans at the time of appraisal of the Fund for consideration of guarantee.

d) At the time of applying for guarantee, the enterprise does not have tax debts of 1 year or more under the Law on Tax Administration and bad debts at credit institutions. In case of tax liability due to objective reasons, enterprises must obtain certification of the direct tax administration agency.

e) Measures are taken to ensure loan guarantees:

- Property rights, existing assets or future assets belonging to the enterprise's ownership are considered for credit guarantee or existing third party's assets;

- Feasible investment projects, feasible production and business plans, ensuring the enterprise's solvency, shall be considered for credit guarantee according to the Fund's assessment;

- Credit rating of an enterprise shall be considered for granting a credit guarantee according to the Fund's assessment that it is an enterprise that ensures its solvency for a loan at the lending institution."

4. Clause 7, Article 1 is amended and supplemented as follows:

"7. Scope of credit guarantee

a) The fund considers granting credit guarantee to small and medium-sized enterprises up to 100% of the loan value (including working capital and medium, long-term capital) at the lending organization. Based on the feasibility, risk level of the enterprise, investment project, production and business plan and financial capacity of the Fund, the Fund shall consider and decide on the guarantee level for the enterprise.

b) Guarantee of the Fund includes one of the following cases:

- Guarantee of debt repayment obligations of the guaranteed party at the lending organization;

- Guarantee of loan interest payment obligations of the guaranteed party at the lending organizations;

- Guarantee for repayment of loan principal and interest of the guaranteed party at the lending institution and must be specified in the credit guarantee contract.

e) Based on the Fund's financial capability, management and operation, feasibility and risk level of investment projects, production and business plans, the Fund shall consider and decide on the scope of credit guarantee prescribed specified at Point b, Clause 7 of this Article and specified in credit guarantee contracts, "

4. Clause 8, Article 1 is amended and supplemented as follows:

8. Credit guarantee limits:

a) Limit on investment loan guarantee: The Fund's total credit guarantee is based on the Fund's actual charter capital but does not exceed 15% for a customer and no more than 20% for a customer and related people.

b) Working capital guarantee limits: In addition to the provisions on loan guarantee limits at Point a, Clause 8 of this Article, the Fund's working capital guarantee limit must not exceed the owner's equity. The line of sales represents the main report of the enterprise that is submitted to the tax administration in the previous year and the following year.

c) The Fund's total credit guarantee to the guaranteed parties specified at Points a and b, Clause 8 of this Article must not exceed 3 times the Fund's actual charter capital."

11. Clause 11 Article 1 is amended and supplemented as follows:

"11. The organizational structure, operation scope and scope of the Fund include:

a) Chairman of the Fund.

b) Supervisors.

c) Executive board.

The provincial People's Committee shall decide the force of organization and operation of the Fund in accordance with the actual situation in the locality, ensuring efficiency and approving the Fund's Organization and Operation Regulation according to regulations. "

Article 2. Organization of implementation

1. Assigning the provincial People's Committee to organize the implementation of this Resolution; in which, allocate the provincial budget to provide additional charter capital to the Fund within the time limit specified in Clause 4, Article 64 in Decree No. 34 / ND-CP of March 8, 2018.

2. The Standing Committee of the provincial People's Council, the Committees of the provincial People's Council, the Delegate Groups of the provincial People's Council and the provincial People's Council delegates supervise the implementation of the Resolution in accordance with law.

This Resolution is adopted by Lam Dong People's Council Session XI, the 8th session on July 10, 2019 and takes effect after July 20, 2019./. 

 Receivers:
- CPV Committee, Government;

- Office of the National Assemble, Office of the Government;

- Ministries: Finance; Internal Affairs;

- Department of Legislation Examination - Ministry of Justice;

- TTTU, TTND-UBND, UBND;

- Delegation of Lam Dong at the National Assembly;

- Delegate of the Provincial People's Council Session XI;

- Departments, committees, branches and unions of the province;

- Office of the Provincial People's Committee; People's Council, People's Committee;

- Standing Committee of People’s Council, People’s Committee of districts and cities;

- Website of Province;

- Website of People's Council;

- Filing: VT, meeting documents.

CHAIRMAN

(Signed and sealed)


Tran Duc Quan

 

 

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