According to Clause 2, Article 3 of Decree 24/2012/ND-CP, gold bars are gold stamped into pieces, stamped with letters, weight and quality numbers and codes of enterprises and credit institutions licensed by the State Bank to produce, or gold bars produced by the State Bank in each period.
Gold bar trading activities are also specifically regulated in Article 10 of Decree 24/2012/ND-CP.
Accordingly, gold bar trading activities by organizations and individuals can only be carried out at credit institutions and enterprises licensed by the State Bank to trade in gold bars.
According to this regulation, organizations and individuals are not allowed to buy and sell gold bars at organizations and businesses that do not have a license to buy and sell gold bars. Violators will be punished.
Customers buy gold at SJC Da Nang .
Pursuant to the provisions of Article 3 and Article 24 of Decree 88/2019/ND-CP, organizations and individuals buying and selling gold bars at organizations and enterprises without a license to buy and sell gold bars will be fined.
For individuals
Individuals buying and selling gold bars with credit institutions or businesses without a license to buy and sell gold bars will be given a warning.
Individuals who buy and sell gold bars with credit institutions or businesses without a license to buy and sell gold bars, in case of recidivism or multiple violations, will be fined from VND 10,000,000 to VND 20,000,000.
For organizations
Organizations that buy and sell gold bars with credit institutions or businesses without a license to buy and sell gold bars will be subject to a warning.
Organizations that buy and sell gold bars with credit institutions or businesses without a license to buy and sell gold bars in case of recidivism or multiple violations will be fined from VND 20,000,000 to VND 40,000,000.
Source: https://vtcnews.vn/mua-ban-vang-mieng-khong-dung-noi-bi-phat-the-nao-ar903709.html
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