Chương 7 Luật Doanh nghiệp Nhà nước 1995: Quản lý phần vốn của nhà nước ở các doanh nghiệp

Chapter VII

MANAGEMENT OF STATE-OWNED SHARE OF CAPITAL IN THE STATE ENTERPRISES

Section I. MANAGEMENT OF STATE-OWNED SHARE OF CAPITAL IN OTHER ENTERPRISES

Article 49.- The Board of Management, or the Director (in the enterprises which have no Board of Management) who receive capital from the State to contribute to other enterprises, have the following rights and obligations :

1. To work out projects for capital contribution, and submit it to the Head of State agency consistent with the devolution of powers by the Government;

2. To appoint, dismiss, commend/award, discipline the person directly managing the State-owned share of capital in the enterprises;

3. To supervise and control the use of the State-owned share of capital, be responsible for the effective use, preservation and development of the State-owned share of capital; collect the profits from the capital share contributed to various enterprises.

Article 50.- The rights and obligations of the person directly managing the State-owned share of capital in the enterprises :

1. To take part in the management and administration apparatus in the enterprise as prescribed by the statute of the enterprise;

2. To follow up and supervise the business operations of the enterprise having a State-owned share of capital;

3. To observe the regime of reporting and taking responsibility before the Board of Management, or the Director (in the enterprises having no Board of Management), concerning the State-owned share of capital in the enterprises.

Section II. MANAGEMENT OF STATE-OWNED PREDOMINANT SHARE AND SPECIAL SHARE

Article 51.- The Government exercises the ownership right over the predominant share and special share of the State in a number of important enterprises with the aim of guiding the enterprises along the State orientation. The Government shall decide in which enterprises the State needs to have a predominant or a special share.

Article 52.-

1. The enterprise with a State predominant share, and the enterprise with a State special share are established, organized and registered in accordance with current legislation.

2. The handling of the following important issues needs to have the concurrence of the representative of the owner of the predominant or special share of the State, in conformity with the agreement reached in the statute of the enterprise;

a/ To decide on the strategy, the 5-year and yearly plans of the enterprise;

b/ To invest in joint venture, modify the form of organization of the enterprise;

c/ To appoint the key managerial offices of the enterprise.

Article 53.- The representative of the owner of State predominant or special share has the following rights and obligations :

1. To appoint, dismiss, commend/award, discipline the person directly managing the State predominant or special share in the enterprise;

2. To yearly assign duties, and approve the orientation, objectives, measures for using the right of the State predominant or special share, to the person directly managing the predominant or special share in the enterprise;

3. To follow up and supervise the use the State predominant or special share; to request the person directly managing shares in the enterprise to report on the use of this share, take responsibility for the use of the State share, in order to make the enterprise serve the State objectives.

Article 54.- The person directly managing the State predominant or special share in the enterprise exercises the rights and discharges the obligations stipulated in Items 1 and 2, Article 50 of this Law, and carries out the following stipulations :

1. To work out the orientation and measures, and submit them to the representative of the owner of State predominant or special share, for the use of the State share in setting orientations for the various enterprises to serve the State objectives;

2. To take part in deciding the measures concerning management and administration to be adopted by the enterprise, for the use of the predominant or special share as approved by the representative of the owner of such share;

3. To observe the reporting regime, and is responsible to the representative of the owner of the State predominant share and special share.