Chương 8 Luật Doanh nghiệp 1999: Quản lý nhà nước đối với doanh nghiệp

Chapter VIII

STATE MANAGEMENT OVER ENTERPRISES

Article 114.- Contents of the State management over enterprises

1. To promulgate, disseminate and organize the implementation of legal documents on enterprises.

2. To organize business registration; to provide guidance for business registration to ensure the implementation of strategies, planning, orientation and plans for socio-economic development.

3. To organize and manage professional training and fostering, and enhancement of business ethics of enterprise managers, of professional, ethical and political qualifications of officials in charge of the State management over enterprises; and training and building up a contingent of skilled workers.

4. To implement incentive policies toward enterprises in accordance with the orientation and objectives of the strategies, planning and plans for socio-economic development.

5. To examine and inspect enterprises; and to supervise the business operations of enterprises through the system of periodical financial statements and other reports.

Article 115.- Bodies in charge of the State management over enterprises

1. The Government shall exercise the uniform State management of enterprises.

2. Ministries, ministerial level agencies and agencies attached to the Government shall, within their tasks and powers, be responsible for exercising the State management of enterprises in their delegated fields.

The Government shall provide for the coordination between ministries, ministerial-level agencies and agencies attached to the Government in the State management of enterprises.

3. The People’s Committees of the provinces and centrally-run cities shall have the following responsibilities:

a/ To exercise the State management over enterprises within their respective localities in accordance with the provisions of law;

b/ To organize business registration; to inspect, examine and supervise the operation of enterprises within their localities;

c/ To guide and instruct the People’s Committees of rural and urban districts, and provincial capital and cities in the coordination of the exercise of the State management over enterprises.

4. The business registration body shall be provided for by the Government.

Article 116.- Powers and responsibilities of the business registration body

1. To effect the business registration and to issue business registration certificates as prescribed by law.

2. To establish and manage a system of information on enterprises; to provide information to State bodies, organizations and individuals at their requests as prescribed by law.

3. To request enterprises to report on their business situation where it deems necessary for the implementation of the provisions of this Law; to urge the implementation of the reporting regime by enterprises.

4. To directly examine or to request the competent State body to examine enterprises with respect to the matters in the business registration dossiers.

5. To deal with breaches of the regulations on business registration as prescribed by law. To revoke business registration certificates and to demand dissolution of enterprises in accordance with the provisions of this Law.

6. To be responsible before law for breaches committed in the course of business registration.

7. To exercise other powers and perform other responsibilities as prescribed by law.

Article 117.- Inspection of the business operation of enterprises

1. The inspection of the business operation of enterprises shall be carried out in accordance with the functions and powers and in accordance with law.

Financial inspection shall be conducted no more than once each year for each enterprise. The duration of inspection shall not exceed thirty days, and may be extended in special cases as decided by the competent superior authority, but not exceeding thirty days.

Irregular inspection shall only be conducted when there are grounds showing breaches of law by the enterprise.

2. An inspection may only be conducted under a decision of the competent authority; minutes recording conclusions of the inspection must be made when the inspection is completed. The head of the inspection team shall be responsible for the contents of the minutes and conclusions of the inspection.

3. Where a person issues an inspection decision not in accordance with the law or takes advantage of the inspection to gain personal benefits, harass or obstruct the operation of an enterprise, such person shall, depending on the seriousness of the breach, be disciplined or examined for penal liability; and must compensate the enterprise for any damage caused in accordance with the law.

Article 118.- Fiscal year and financial statements of enterprises

1. The fiscal year of enterprises shall commence on January 1st and end on December 31 of a calendar year. The first fiscal year of an enterprise shall commence on the date of issuance of the business registration certificate and end on the last day of the same year.

2. Annual financial statements of an enterprise shall comprise the balance sheet and the profit and loss statement.

3. Within thirty days, for private enterprises and partnerships, and ninety days, for limited liability companies and joint-stock companies, after the final day of a fiscal year, the annual financial statements of enterprises must be sent to the competent tax office and the business registration body; where an enterprise has subsidiary(ies), a notarized copy of the financial statements of the subsidiary(ies) for the same year must also be included.