Council for destroying money

1. On a yearly basis, Governor of State Bank of Vietnam shall decide to establish Council for destroying money, consisting of:

a) Chairperson: Director General of Department of Issuance and Treasury;

b) 1 Standing vice Chairperson: Deputy Director General of Department of Issuance and Treasury shall be directly in charge of northern destroying body;

c) 1 Vice Chairperson: Deputy Director General of Department of Finance – Accounting;

d) 1 Vice Chairperson: Director General of Sub-department of Issuance in Ho Chi Minh City shall be directly in charge of southern destroying body;

e) Members shall consist of heads and/or vices of Department of Issuance and Treasury; Deputy Director General, heads and/or vices of Sub-department of Issuance and Treasury in Ho Chi Minh City. In which, 1 member shall act as secretary of Council for destroying money and 2 members shall act as secretaries at northern and southern destroying body.

2. Specialized teams shall assist the Council for destroying money; 4 specialized teams shall be established at each destroying body as specified in Article 10 of this Circular.

Article 7. Tasks of Council for destroying money

1. The Council for destroying money shall direct and organize implementation of destroying money at destroying bodies according to this Circular under supervision of the Supervision council to ensure absolute safety in destroying money.

2. Adopt measures to promptly deal with flaws and errors that arise when destroying money.

3. Organize, produce final assessment and propose methods of commendation and actions taken against violations in destroying money.

4. Preserve documents related to destroying money as per the law.

Article 8. Tasks and powers of Chairperson of Council for destroying money

1. Be responsible to Governor of State Bank of Vietnam and to the law for destroying money of State Bank of Vietnam.

2. Issue regulations on operation of Council for destroying.

3. Jointly direct and operate; develop operation plans and programs of Council for destroying money; decide on tally rate of each type of defective money.

4. Assign Vice Chairpersons and members of the Council for destroying money; organize structure and tasks of specialized teams according to Article 10 of this Circular.