On March 15th, 2019, the Ministry of Finance issued Circular No. 13/2019/TT-BTC amending and supplementing a number of articles of Circular No. 180/2015/TT-BTC dated November 13th, 2015 guiding registration of securities transactions on the trading system for unlisted securities. The Circular takes effect from May 1st, 2019.
Accordingly, the circular stipulates additional 02 cases of stock terminated registration on Upcom Stock Exchange, bringing the total to 06 cases, as following:
Organizations registering for transactions no longer meet the conditions of public companies according to the notice of cancellation of public company registration of the State Securities Commission;
Organizations registering for transactions terminate their existence due to merger, consolidation, division, dissolution or bankruptcy;
Organizations registering for transactions is revoked the business registration certificate or establishment license and operates in the specialized field;
Organizations registering for transactions approved for listing at the Stock Exchange;
Equitized enterprises by the method of offering securities to the public register for trading on the Upcom trading system and are granted business registration certificates, will be canceled their transaction registration after one (01) year from the date of not meeting the conditions for capital or shareholders according to the provisions of Point c, Clause 1, Article 25 of the Securities Law or both of the above conditions.
The equitized enterprise registers to trade on the Upcom trading system and are granted a business registration certificate before the effective date of this Circular, if not meet the conditions on capital or shareholders according to the provisions of Point d, Clause 1, Article 6 of this Circular, the transaction registration will be canceled within one (01) year from the effective date of this Circular.
In addition, the Circular also amended the regulations on the time of stock exchange registration. Within 30 days from the end of the public offering of securities in accordance with the law on securities, Public companies that have not listed securities must complete the securities registration at the Vietnam Securities Depository and register for trading on the Upcom Stock Exchange.
The new regulation of the Ministry of Finance helps to complete the process, procedures and records in the direction of facilitating enterprises to register for trading on the Upcom Stock Exchange, especially the equitized State enterprises.