Chương 9 Luật Doanh nghiệp 1999: Khen thưởng và xử lý vi phạm

Chapter IX

COMMENDATION, REWARDS AND DEALING WITH BREACHES

Article 119.- Commendation and rewards

Organizations, individuals and enterprises recording outstanding achievements in business, in raising the efficiency and competitiveness of enterprises, or making major contribution to the national construction, defense and development shall be commended or rewarded in accordance with law.

Article 120.- Acts of breaching the Law on Enterprises

1. Granting business registration certificates to unqualified persons or refusing to grant business registration certificates to persons satisfying the conditions stipulated in this Law.

2. Violating the provisions on examination and inspection of the operation of enterprises.

3. Conducting business in the form of an enterprise in accordance with this Law without business registration, or continuing to conduct business after the business registration certificate has been revoked.

4. Declaring dishonestly, inaccurately or untimely the contents or the alterations to the contents of business registration dossiers of an enterprise.

5. Deliberately valuing assets contributed as capital higher than their actual value.

6. Failing to submit annual financial statements to the competent State body in accordance with this Law or to submit untrue or inaccurate statements.

7. Preventing members, owners or shareholders from exercising their rights in accordance with this Law and the Charter of the company.

8. Other acts breaching the provisions of this Law.

Article 121.- Forms of dealing with breaches

1. Depending on the nature and seriousness of each breach, persons committing breaches of the provisions of this Law shall be disciplined, administratively sanctioned a examined for penal liability according to law.

2. Where a breach causes damage to the interests of an enterprise, its owners, members or shareholders, or of other persons, the person in breach shall have to compensate as prescribed by law.

3. The business registration certificate of an enterprise shall be revoked in the following cases:

a/ Failing to conduct business activities for a duration of one year from the date of being granted the business registration certificate;

b/ Stopping business activities for one full year without informing the business registration body thereof;

c/ Failing to report on business activities of the enterprise to the business registration body for two consecutive years;

d/ Failing to send reports stipulated in Clause 3 of Article 116 of this Law to the business registration body within six months from the date it is so requested in writing;

e/ Conducting prohibited lines of business.