Decision 1074/QĐ-UBCK Amending Guidelines on Fees and Charges in the Securities Sector

On December 29, 2011, the State Securities Commission (SSC) issued Decision 1074/QĐ-UBCK amending and supplementing certain contents of the "Guidelines on the implementation of collection and payment of fees and charges in the securities sector applied at the State Securities Commission" issued alongside Decision 510/QĐ-UBCK dated August 11, 2009, by the Chairman of the SSC, as follows:

1. Amendment of Section 3.2:

"3.2. Method for calculating the management fee for unlisted public companies":

• The fee amount each unlisted public company must pay is 10 million VND/year;

• Calculation formula: (10 million VND / 12 months) x number of months the company is an unlisted public company.

• For companies registering as public companies: the number of months as an unlisted public company is calculated starting from the month following the registration month until the end of the year.

• For companies deregistering as public companies or listing on stock exchanges: the number of months as an unlisted public company is calculated from the beginning of the year until the end of the month of deregistration as a public company or the month of approval for listing on stock exchanges.

• For companies registering as public companies and deregistering as public companies or listing on stock exchanges within the same year: the number of months as an unlisted public company is calculated from the month following the registration month until the end of the month the company deregisters or the month of approval for listing on stock exchanges.

2. Amendment of Section 4.2:

"4.2. Regarding the management fee for unlisted public companies":

• For companies registering as public companies, deregistering as public companies, or listing on stock exchanges, the fee is collected immediately upon registration, deregistration, or approval for listing on stock exchanges.

• For unlisted public companies not falling under the above categories: the fee is collected at the end of the fourth quarter of each year (from December 15 to December 31 of each year)...

(Details see attached file).

(SSC)