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:: Question :: We are a securities company (SC) which is conducting the procedures for registration of electronic transaction services at the State Securities Commission of Vietnam (the SSC). Please kindly advise the regulations on circumstances where SSC discloses confidential information on our information technology system that was invested by us with a huge investment amount, such as the compensation for damages
Answer:
Pursuant to Article 604 and 619 of the 2005 Civil Code, in case the SSC intentionally or unintentionally causes harm to the SC during the registration of the online transactions services, the SSC must compensate for damage pursuant to the civil regulation on non-contractual damages.
Please also be advised that in order to claim for damages, the SC must prove evidence expressing that the action of the SSC is unlawful activities, which have caused the actual damages to the SC.
Accordingly, the SC must list the actual damage items, request the amount of compensation and must provide valid invoices or receipt on lawful costs and expenses that the SSC caused to the SC and damaged income of the SC (Pursuant to Article 608 of the 2005 Civil Code and the Resolution No. 03/2006/NQ-HDTP dated July 08, 2006).
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