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- 04 / 03 / 2021 -
Cases of transfer of securities ownership are not required to be deposited
On December 31, 2020, the Ministry of Finance issued Circular No.119/2020/TT-BTC regulating the registration, depository, clearing and settlement of securities transactions. The Circular takes effect from 15th February, 2021.
In which, there are provisions for a number of cases where the transferor of securities ownership is not required to conduct the securities depository before the transfer of ownership, specifically as follows:
- a) The securities ownership transferor is missing, dead, or has been residing overseas and cannot be contacted;
- b) The issuing organization, the public company repurchases employees’ shares according to the company’s regulations on issuing shares to employees; issuers, public companies buy back shares of officials and employees who are entitled to buy at preferential treatment in accordance with the law on equitization;
- c) Transfer of ownership under a court judgment or ruling, an arbitral award or a decision of a judgment enforcement agency;
- d) Transfer of ownership due to reorganization, dissolution of an enterprise, dissolution of a business household in which the transferor no longer exists due to completion of reorganization, enterprise dissolution, or household dissolution business.
