Decree on Financial Leasing (Amended)
关于融资租赁业务的法令（修订版）
ດຳລັດ ວ່າດ້ວຍ ທຸລະກິດເຊົ່າສິນເຊື່ອ (ສະບັບປັບປຸງ)
Summary
This decree stipulates principles, regulations, and measures for management and supervision of financial leasing business, covering business types, lease contracts, rights and obligations of both parties, business licenses, registered capital, corporate governance structure, sound operation and audit, merger, dissolution, bankruptcy, prohibited acts, and supervision, with the Bank of the Lao PDR responsible for unified management.
Articles
Article 1
Purpose. This Decree prescribes principles, regulations, and measures regarding the management, supervision, tracking, and inspection of financial leasing activities, aiming to ensure that such activities are conducted in compliance with the law, create conditions for accessing funding sources, facilitate business operations, and contribute to the national economic and social development.
Article 2
Financial Leasing Business. Financial leasing business refers to the provision of credit leasing in the form of goods, motor vehicles, and other objects, provided directly by the lessor, or where the lessor procures the leased property for the lessee.
Article 3
Interpretation of Terms. The terms used in this Decree have the following meanings: 1. Lessor means a financial leasing company; 2. Lessee means an individual, legal person, or organization receiving credit leasing services from the lessor; 3. Leased property supplier means an individual or legal person selling leased property to the lessor for the purpose of leasing such property to the lessee; 4. Leased property means movable property that is the subject of a financial lease and specified in the contract; 5. Management personnel means members of the board of directors and the general manager team of the financial leasing company; 6. Major shareholder means an individual or legal person holding ten percent or more of the shares in the financial leasing company.
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