  Government             Socialist Republic of Vietnam
 No. 260/TTG             Independence-freedom-Happiness
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                                    Hanoi, June 2nd, 1992.

DECISION Of THE PRIME MINISTER ESTABLISHMENT Of THE CENTRAL DIRECTIVE COMMITTEE ON TESTING PEOPLE'S CREDIT fUNDS

The Prime Minister

- Pursuant to the Law regulating the organization of the Government dated September 30, 1992.

- At the proposal of the Governor of the State Bank and related entities.

Decides

Article 1 : To establish the Central Directive Committee on Testing People's Credit funds (hereinafter referred to as Central Directive Committee whose the chairman shall be the Governor of the State Bank and members shall be representatives from related entities. [The members list is attached herewith].

Article 2 : The Central Directive Committee shall have the following duties and powers :

1. Assist the Prime Minister to conduct the implementation of the pilot-project and choose provinces and cities for the creation of experimental people's credit funds according to the plan approved by the Prime Minister.

2. Coordinate with related entities to prepare legal documents suitable to the new model of people's credit funds and submit to competent authorities for promulgation.

3. Direct chosen cities and provinces to implement the plan for the creation of testing people's credit funds.

4. Coordinate with related entities to receive foreign assistance to the pilot-project.

5. Summarize the testing phrase, work out a plan for the expansion of the people's credit funds system throughout the country, submit the plan to the Prime Minister for approval.

Article 3

1. An Executive Board on Testing People's Credit funds [hereinafter referred to as Executive Board on Testing Project] shall be established to assist the Central Directive Committee in business. The Executive Board on Testing Project shall be one componen t of the State Bank framework. The Governor of the State Bank decides on the establishment, functions, duties and staff of the Board.

2. The Central Directive Committee is empowered to gather experts from member-ministries and member-entities [the aforesaid entities of this decision], basing on the requirements of the implementation of the project in different stages.

Article 4

In chosen provinces and cities, Directive Boards on Testing Project at province level shall be established. Members of these directive boards shall be :

1. The chairman of the People's Committee of the province or city, chairman.

2. The director of the State Bank branch in the province or city, standing vice-chairman.

3. One deputy-director of the finance Office of the province or city, member.

4. One deputy-director of the Justice Office of the province or city, member.

5. One vice-chairman of the farmers Association of the province or city, member.

6. One vice-chairman of the Private Enterprises Association, member.

The directive board at province level shall be under the direct guidance of the People's Committee of the province or city, and of the Central Directive Committee on Testing Project. A specialization unit, which is one part of the structure of the State B ank branch in the province and city, shall be constituted to assist the Directive Board at the province level.

Directive Board at the province level shall be established in compliance with the decision of the People's Committee which is under the direct control of the Government.

Directive Board at the province level shall use the seal of the People's Committee of the province or city.

Article 5

1. Offices, working equipment, of the Central Directive Committee shall be arranged by the State Bank of Vietnam.

2. The expenditure for the establishment of the testing project shall be defrayed by the State Bank. Expenditure of this kind shall be considered the Bank's expenditure.

3. Salaries and allowances for the convened experts shall be covered by the ministry or branch where that expert is working.

Article 6

The chairman of the Central Directive Committee shall be responsible for the promulgation of regulations on operation of the Committee, for the implementation of the approved plan, for the regular reports to the Prime Minister on the results of the testin g project.

Article 7

This decision shall come into force from the date of its signing.

Article 8

Ministers, heads of institutions at ministry level, heads of institutions under Government's direct administration, chairman of the People's Committee under Government's administration and members of the Central Directive Committee shall be responsible fo r the implementation of this decision.

for The Goverment Deputy Prime Minister

PHAN VAN KHAI