When there is a change in the content of the Certificate of Business Eligibility, how long does a credit rating enterprise need to carry out adjustment procedures?

When there is a change in the content of the Certificate of Business Eligibility, how long does it take for a credit rating enterprise to carry out adjustment procedures?

When there is a change in the content of the Certificate of Business Eligibility, the credit rating enterprise needs to carry out the adjustment procedures specified in Article 23 of Decree 88/2014/ND-CP as follows:

Adjustment of Business Qualification Certificate

1. Credit rating enterprises must carry out procedures to request adjustments to the Certificate of Business Eligibility within fifteen (15) working days from the date of change in the content of the Certificate of Business Eligibility specified in Article 17 of this Decree.

2. Dossier to request adjustment of the Certificate of Business Qualification includes:

a) Application to adjust the Certificate of Business Qualification according to Form No. 4 in the Appendix attached to this Decree, clearly stating the reason for the adjustment;

b) Original copy of the most recently issued Certificate of Business Qualification;

c) Documents proving the contents Content of request for adjustment of Certificate of business eligibility.

3. Within ten (10) working days from the date of receipt of complete and valid documents, the Ministry of Finance shall appraise and review the documents to adjust the Certificate of business eligibility. In case of refusal, the Ministry of Finance shall notify the enterprise in writing and clearly state the reason.

Thus, when there is a change in the content of the Certificate of Business Eligibility, the credit rating enterprise needs to carry out adjustment procedures within 15 working days from the date of the change.

If a credit rating enterprise has its registration certificate revoked, do they need to notify the state management agency?

If a credit rating enterprise has its Registration Certificate revoked, it is necessary to notify the state management agency as prescribed in Article 24 of Decree 88/2014/ND-CP as follows:

Changes must be notified to state management agencies

Within ten (10) working days from the date of changes to the following contents, the credit rating enterprise must notify in writing the Ministry of Finance and the business registration authority:

1. Does not meet one of the conditions specified in Article 14 of this Decree;

2. Name, head office address, website address of the credit rating enterprise;

3. legal representative of the enterprise;

4. Dissolution, bankruptcy or self-termination of credit rating service business;

5. Business registration certificate revoked.

Thus, if a credit rating enterprise has its registration certificate revoked, the enterprise needs to notify in writing to the Ministry of Finance and the business registration authority.

Is the decision to revoke the Certificate of business eligibility of a credit rating enterprise published on the website of the Ministry of Finance?

Is the decision to revoke the Certificate of business eligibility of a credit rating enterprise published on the website of the Ministry of Finance as prescribed in Article 25 of the Decree 88/2014/ND-CP as follows:

Revocation of Certificate of Business Eligibility

1. A credit rating enterprise will have its Business Eligibility Certificate revoked in the following cases:

a) Failing to meet one of the conditions specified in Clauses 1 to 6, Article 14 of this Decree within six (06) consecutive months;

b) Committing one of the prohibited acts specified in Clauses 1 to 9, Article 7 of the Decree this;

c) Dissolved, bankrupt or self-terminated from credit rating service business;

d) Revoked Business Registration Certificate.

2. The certificate of business eligibility automatically expires in the cases specified in Point c and Point d, Clause 1 of this Article.

3. The Ministry of Finance issues a decision to revoke the Certificate of business eligibility for the cases specified in Clause 1 of this Article.

4. The decision to revoke an enterprise’s Business Eligibility Certificate is published on the website of the Ministry of Finance.

5. Enterprises must immediately stop credit rating activities and services related to credit ratings from the time the Certificate of business eligibility automatically expires; or from the time the Decision to revoke the Certificate of Business Eligibility takes effect.

Thus, the decision to revoke the Certificate of business eligibility of the credit rating enterprise is announced on the website of the Ministry of Finance.