One key point to be noted in the Decision 563/QD-NHNN issued by the State Bank of Vietnam (SBV) is that:
The trading of gold will be stopped if before announcing the result, the gold price fluctuates over the price in the approved plan. The exchange office will notify the participating traders to stop trading.
Additionally, a number of other contents in the process of trading gold are also specified:
– Within 17 hours of the preceding day of the day that the SBV organizes the gold buying and selling activities, traders have to deposit to the account of the SBV.
– Within 30 minutes after the buying and selling price notifications from the exchange office, the trader representatives must submit an application to buy or sell gold to the SBV.
Decision takes effect from the date of signing – March 18th 2013.
ANT Lawyers is a Vietnamese law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context. Call us at +84 28 730 86 529 or send us email: ant@antlawyers.vn