Six laws take effect in 2013

Six laws take effect in 2013

On July 16^th, the President’s Office held a press conference announced the order of the President announced six Laws:

–          The Deposit Insurance Law

–          The Anti-Money Laundering Law

–          The Labor Laws (amended)

–          Trade Union Law.

–          Higher Education Law

–          Law on preventing the harmful effects of tobacco.

1. Compared with the current Labor Laws, the structure of the Labor Laws (amendment) has 17 chapters and 1242 article (increases by 23 articles).

–          Some notable new features of this Laws are separate provisions for women workers to promote gender equality in recruitment, employment, training, working time, rest time, wages and related different aspects, and increase the maternity leave of women employees to 6 months. However, female workers can return to work when they had rest at least 4 months.

–          In terms of the age pension, the Labor Laws regulate 60 years old apply for female and 55 years old apply for male. However, workers can retire at lower or higher than 5 years in accordance with Government regulation .

–          Maximum extra working hours of employees shall be kept as current: it shall not exceed 200 hours per year, except for some special cases stipulated by the Government that it shall be no more than 300 extra working hours a year. Additionally, Labor Laws also provides the number of Lunar New Year holidays is increase to 5 days.

–          On the labor contract, the amended Labor Laws is more specify about the termination of labor contracts and responsibilities of the parties to exercise the right to unilaterally terminate the labor contract and shall pay allowance.

–          The amended Labor Laws will be effective from January 1^st 2013. When this law comes into effect, the time specified in childbirth entitled Social Insurance Law No.71/2006/QH11 shall comply with the provisions of this Laws.

2. Law on anti-money laundering that comes into effect from January 1^st 2013 is an important step in finalizing the legal framework to combat money laundering activities in Vietnam, contributing to the transparency the national finance. At the same time the promulgation of the anti-money law 2012 is also Vietnam’s commitments to the international community in combating money laundering.

–          Overall, the mechanism prevention of money laundering under the anti-money laundering 2012 is done primarily through the establishment of a mechanism for the collection and handling of information on customer identification, information on unusual transaction and large value transactions to build uniform databases, screening, identifying risk transactions related to money laundering is done through transactions at financial institutions, organizations and individuals doing business in the relevant non-financial.

–          The Anti-Money Laundering Law has 5 chapters, 50 articles and was formulated under the regulations and specific details.

–          Under the provisions of the Law, the Prime Minister will issue a decision on the value of large value transactions that must be reported; additional suspicious signs when necessary. The State Bank is assigned to issue the Circular on the application of measures to enhance customer, dealing with high level of risk and shall define the form of suspicious transaction reports, report forms ; provisions on the value of electronic money transfers must be reported.

–          Currently, the State Bank have been conducted to study and draft the documents mentioned to the Prime Minister for promulgation or promulgate according to competence to ensure the necessary guidance documents issued along with the Law on anti-money laundering enforcement.

3. Trade Union Law (amendment) includes 6 chapter s,33 articles, increases by 2 chapters and 14 articles as compared with current law. Law has established a new provision, principally related to more clearly define the responsibilities of the State, state agencies, units and enterprises, the guarantees for union activities and settlement mechanism disputes and handling violations of the law on trade unions. An important content of law is clearly defined legal status of unions, creating a basis for specifying the rights and responsibilities in the field of trade union activities, creating a legal framework for trade union fulfills the function of law.

4. Includes 5 chapters and 35 article, the Law on preventing the harmful effects of tobacco regulate to control demand for tobacco, measures and control the supply of tobacco to ensure preventing the effect of tobacco. Law will create a favorable legal framework for the prevention of tobacco, contribute to limiting disease, save lives people and improving public health.

5. Deposit Insurance Law includes 7 chapters, 39 articles. It was enacted to protect the legitimate rights and interests of depositors, contribute to maintaining the stability of the system of credit institutions, ensuring the development of an full and healthy banking activities. This law has achieved a step in defining the State Bank is the agency responsible to the Government for performing the state management of deposit insurance. Law provides only individual depositors are insured, cooperative households, private enterprises people and partnerships are not insured.

6. Higher Education Law includes 12 chapters and 73 articles regulate on the organization, duties and powers of higher education organization, training activities, scientific and technology activities, international cooperation activities, quality assurance and accreditation of higher education, faculty, students, financial assets of higher education facilities and state management of higher education. The law provides four new basic issues including college stratification, socialization education, the autonomy of higher education facilities and quality control training.

(Source: chinhphu.vn)

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