Mortgage registration of public securities at Vietnam Securities Depository and Clearing Corporation

Under the new Securities Law 2019, the Vietnam Securities Depository and Clearing Corporation (VSDCC) will replace the current Vietnam Securities Depository and will have the authority to register the security interest (such as mortgage or pledge) over securities centrally registered at VSDCC (public securities). Currently, security interest over public securities is registered with the NRAST, an agency under the Ministry of Justice. Although it is not clear, it is likely that the registration of mortgage of public securities will be completed at VSDCC instead of registration with NRAST. The registration of security interests over public securities with VSDCC is still subject to guidance by the Government. However, there are several issues which may arise from the change contemplated by arising from this new authority of VSDCC:

In essence, registration of security interest is an administrative procedure which should be done by a Government authority. Accordingly, VSDCC is a company with profit making purpose may not suitable to exercise the rights of a Government registrar;

Vietnam Covid 2019 Outbreak - How to deal with employees confirmed to be positive for Covid-19?

For any employee who is tested being positive for Covid-19 and is known to the employer, the employer is entitled to require the employee to take sick leave in accordance with the Social Insurance Law 2014. That said, this may not be necessary, since the Government requires all Covid-19 confirmed patients to be put into mandatory quarantine and treatment in a hospital.

Vietnam Covid-19 Outbreak - Maintaining A Safe Workplace

Under the labor law, the employer is generally required to (1) maintain conditions of safety and hygiene for the workplace, and (2) provide its employees with labor protection equipment. In particular, during the period of “social distancing” from 1 April to 15 April 2020, the Prime Minister has instructed all employers who are permitted to work from their offices during this period (Essential Business Employers) to adopt the following measures:

wearing face masks and providing sufficient equipment and facilities for prevention and fighting against the coronavirus as required by regulatory regulations and recommended by medical authorities. For example, according to the Ministry of Health’s (MOH) advice, an employer should conduct regular cleaning of workplace and equipment and provide employees with adequate protection facilities (mask, antiseptics);
requiring employees to conduct medical declarations and refraining from going outside, contacting others, and communicating with others;
avoiding temporarily non-emergency and unnecessary activities and reducing gathering of employees in limited space; and
organising and managing transport to carry employees to and from their workplaces (if any) in order to avoid the spread of Covid-19.

A Brief Introduction on Vietnam Legal Framework

A copy of my book “A Brief Introduction on Vietnam Legal Framework” is now available for download for free here. Although the book was written a long time ago (in 2012), we believe it still contains useful information on Vietnam Legal Framework (especially for foreigners who have limited knowledge about the topic). Hope this could help you to kill some time when working from home during the coronavirus outbreak.

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Vietnam Business Law