Luat Viet

:: Question :: Our company registers shares at the Securities Depository Central (SDC), but cannot deposit, of which my 10.000 shares. So, can I transfer directly 2.000 shares to my brother and compliment 2.000 shares to my wife?

Answer:

Pursuant to Article 18(1)(b) of Decision 87, the SDC undertakes the transfer of share ownership through securities transactions at SE, in the following cases: gifts, compliments, giving away, succession of securities according to civil laws. Hence, the compliment and giving away transactions are not compulsory through SE. The SDC will conduct the transfer of securities ownership to your wife.

As for the depository, Article 6 of Decision 16/QD-TTLK dated April 02, 2008 on the issuance of the rules on securities depository operations stipulates: “Investors open an unique share depository account at the depository member to perform transaction of deposited shares at SDC except cases at paragraph 2 Article 22 of the Rules for registration, depository, offset and liquidation of shares”. Therefore, you can deposit at SDC.

With related to presenting and giving away shares, you need to compile dossiers in compliance with Article 26 Decision 14/QD-TTLK dated April 02, 2008 on issuance of Rules of shares registration operations, including the following documents:

- Document suggesting the transfer of securities ownership of the presenter stating clearly reasons and relevant information of the presentee;

- Securities present and giving away contract notarized;

- Due copy of documents of individuals, organizations of the presenter and presentee;

- Request for securities transfer and documents confirming the balance, in which the depository member undertakes to freeze his/her securities account in case securities are deposited or due copies of Book/Certificate of securities ownership of transferer of securities not yet deposit;

- Documents proving the publish of information as stipulated regarding subjects who have to publish information when transfer securities according to Securities Law;

Other relevant materials and documents (if any).

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