Decision on Implementation of the Law on Commercial Banks (Prime Minister's Order)
关于实施《商业银行法》的决定（总理令）
ດຳລັດ ວ່າດ້ວຍການຈັດຕັ້ງປະຕິບັດກົດໝາຍວ່າດ້ວຍທະນາຄານທຸລະກິດ
Summary
This Decision (Prime Minister's Office No. 35/PM) is issued to elaborate and guide the implementation of the Law on Commercial Banks of Laos, stipulating the establishment, organizational structure, capital, equity, board operations, branches, financial business, inspection, restoration, revocation and liquidation of commercial banks, and measures against violators.
Articles
Article 1
Purpose. This Decision is promulgated to refine and provide guidance on the implementation of certain provisions of the Law on Commercial Banks, making them clearer, and ensuring the unified and consistent enforcement of that Law nationwide.
Article 2
Definition of Terms. The meanings of terms in this Decision are as follows: 1. "Domestic Commercial Bank" refers to a bank established under the laws of the Lao People's Democratic Republic and having its headquarters in the Lao People's Democratic Republic; 2. "Bank Service Outlet" refers to a component of a commercial bank, established by the commercial bank or a branch of the commercial bank; 3. "Physical Capital" refers to immovable and movable property used by shareholders to constitute the registered capital of a commercial bank, or the minimum investment funds of a foreign bank branch.
Article 3
Illegal Banking Competition. The State does not permit commercial banks to engage in illegal competitive practices, such as: monopolizing the market, activities violating the Competition Law (Law on Business Competition) No. 15/General Order dated February 4, 2004.
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