Decree on Finance and Accounting of the Bank of the Lao People's Democratic Republic (Government, No. 463/LB, Vientiane, March 9, 2021)
关于老挝人民民主共和国国家银行财务与会计的法令（政府，第463/ЛБ号，万象市，2021年3月9日）
ດຳລັດ ວາດ້ວຍການເງິນ ແລະ ການບັນຊີ ຂອງທະນາຄານແຫງ ສປປ ລາວ (ລັດຖະບານ, ເລກທີ 463/ລບ, ນະຄອນຫຼວງວຽງຈັນ, ວັນທີ 09/03/2021)
Summary
This decree, issued by the Government of Laos, stipulates principles, regulations, and measures for the financial and accounting management of the Bank of the Lao PDR (Central Bank of Laos), covering assets, liabilities, capital, budget, accounting, financial reports, inspection and supervision, and prohibited acts, consisting of seven parts and fifty-two articles.
Articles
Article 1
Article 1 Purpose (Part I General Provisions). This Decree-Law stipulates principles, regulations, and measures for the management, supervision, and inspection of the financial and accounting work of the Bank of the Lao People's Democratic Republic, in order to make it efficient and effective, aiming to strengthen its financial capacity and ensure its performance of duties in accordance with the law.
Article 2
Article 2. Finance and Accounting of the Bank of the Lao People’s Democratic Republic. The finance of the Bank of the Lao People’s Democratic Republic refers to the management of assets, liabilities, capital, and budget, including the distribution of annual net income. The accounting of the Bank of the Lao People’s Democratic Republic refers to the collection, recording, classification, and summarization of financial change information, and the preparation of financial reports in accordance with accounting principles, to serve as data and tools for analyzing the financial status, and for use in the supervision, inspection, financial planning, and business management of the Bank of the Lao People’s Democratic Republic.
Article 3
Article 3. Interpretation of Terms. The terms used in this Decree shall have the following meanings: 1. Banknotes and coins in circulation refer to banknotes and coins that have been printed and put into circulation by the Bank of the Lao People's Democratic Republic; 2. Non-transferable bonds refer to bonds whose ownership may not be sold or transferred to natural persons, legal entities, or other organizations; 3. Electronic documents refer to accounting documents created and stored using electronic tools, which can be read through information display systems, printing, or other forms; 4. Receivables that are difficult to recover refer to loans for which the principal and interest, in whole or in part, have not been repaid after the expiry of the term stipulated in the contract.
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