THE GOVERNMENT | SOCIALIST REPUBLIC OF VIETNAM |
No. 68/2014/ND-CP | Hanoi, July 9, 2014 |
DECREE
ON AMENDMENTS TO DECREE NO. 45/2007/ND-CP DATED MARCH 27, 2007 OF THE GOVERNMENT ON PROVIDING GUIDANCE ON THE LAW ON INSURANCE BUSINESS
Pursuant to the Law on Government organization dated December 25, 2001;
Pursuant to the Law on amendments to the Law on Insurance Business dated November 24, 2010;
At the request of the Minister of Finance;
The Government issues the Decree on amendments to Decree No. 45/2007/ND-CP dated March 27, 2007 of the Government on providing guidance on the Law on Insurance business,
Article 1. Decree No. 45/2007/ND-CP dated march 27, 2007 of the government on providing guidance on the law on insurance business shall be amended as follows
“Article 4. Classes of insurance
1. Non-life insurance shall comprise the types of insurance prescribed in Clause 3 Article 1 of the Law on amendments to the Law on Insurance business and trade credit insurance. The trade credit insurance means a type of insurance, in which a foreign non-life insurer, or a branch of the insurer (hereinafter referred to as guarantor) receives payment of insurance premiums from the principal to bear the risks of the principal and fulfill the principal's liabilities in case the principal has failed to fulfill his liabilities or to properly fulfill liabilities towards the beneficiary. The principal shall still incur the debt and has to reimburse the guarantor according to insurance agreement. The guarantor may only fulfill the guarantor’s liabilities in case the principal has failed to fulfill his liabilities according to agreement between the guarantor, the principal and the beneficiary.”
Article 2. Effect
This Decision shall take effect from August 25, 2014.
Article 3. Implementation
1. The Ministry of Finance shall provide guidance on implementation of this Decree.
2. Ministers, Directors of ministerial agencies, Directors of the Government-affiliated bodies, Presidents of provinces and organizations, individuals shall be responsible for implementation of this Decree./.
| ON BEHALF OF THE GOVERNMENT |
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- 1Circular No. 124/2012/TT-BTC of July 30, 2012, guiding the implementation of a number of articles of the Government''s Decree No. 45/2007/ND-CP dated March 27, 2007 detailing the implementation of a number of articles of the Law on Insurance Business, and the Government''s Decree No. 123/2011/ND-CP dated November 28, 2011, detailing the implementation of a number of articles of the Law on amending and supplementing a number of articles of the Law on Insurance Business
- 2Decree No. 123/2011/ND-CP of December 28, 2011, detailing a number of articles of the Law amending and supplementing a number of articles of the Law on Insurance Business, and amending and supplementing a number of articles of the Government’s Decree No. 45/2007/ND-CP of March 27, 2007, detailing a number of articles of the Law on Insurance Business
- 1Circular No. 124/2012/TT-BTC of July 30, 2012, guiding the implementation of a number of articles of the Government''s Decree No. 45/2007/ND-CP dated March 27, 2007 detailing the implementation of a number of articles of the Law on Insurance Business, and the Government''s Decree No. 123/2011/ND-CP dated November 28, 2011, detailing the implementation of a number of articles of the Law on amending and supplementing a number of articles of the Law on Insurance Business
- 2Decree No. 123/2011/ND-CP of December 28, 2011, detailing a number of articles of the Law amending and supplementing a number of articles of the Law on Insurance Business, and amending and supplementing a number of articles of the Government’s Decree No. 45/2007/ND-CP of March 27, 2007, detailing a number of articles of the Law on Insurance Business
- 3Law No: 61/2010/QH12 of November 24, 2010 admending and supplementing a number of article of the insurance business law
- 4Law No. 32/2001/QH10 of December 25, 2001 on organization of the Government
- 5Law No.24/2000/QH10 of December 09, 2000 on insurance business
Decree No. 68/2014/ND-CP dated July 9, 2014, on amendments to Decree No. 45/2007/ND-CP on providing guidance on the Law on Insurance business
- Số hiệu: 68/2014/ND-CP
- Loại văn bản: Nghị định
- Ngày ban hành: 09/07/2014
- Nơi ban hành: Chính phủ
- Người ký: Nguyễn Tấn Dũng
- Ngày công báo: Đang cập nhật
- Số công báo: Dữ liệu đang cập nhật
- Ngày hiệu lực: 25/08/2014
- Ngày hết hiệu lực: 01/07/2016
- Tình trạng hiệu lực: Hết hiệu lực