Chapter I
GENERAL PROVISIONS
Article 1. Scope of application
This Law shall govern the investment of state capital in an enterprise; the management and utilization of state investments in an enterprise's manufacturing and business activities as well as the supervision of investment, management and utilization of state capital used as financing for an enterprise.
Article 2. Applicable entities
1. Representatives of state ownership.
2. Enterprises of which 100% charter capital is held by the State shall comprise:
a) Single-member limited liability companies whose charter capital is wholly owned by the State are the parent companies of state-owned economic groups, state-owned corporations, and those that belong to parent - subsidiary group;
b) Independent single-member limited companies whose charter capital is wholly owned by the State.
3. Representative of a portion of state capital used as financing for joint-stock companies and multiple-member limited liability companies.
4. Other regulatory bodies, organizations and individuals relating to the investment, management and utilization of state capital used as financing for an enterprise.
Article 3. Interpretation of terms
In this Law, the following terms shall be construed:
1. The owner’s representative agency refers to regulatory bodies or organizations that the Government has assigned to acquire the rights and become obligated to perform the duties of the representative of state ownership in the enterprise established under its decision, or to manage and accept the rights and assume the duties to a portion of the state capital invested in joint-stock companies and multiple-member limited liability companies.
2. Financial regulatory authorities consist of the Ministry of Finance and the Department of Finance located in centrally-affiliated cities and provinces.
3. Investment of state capital in an enterprise refers to the use of such capital assets allocated from the State budget or those derived from funds managed by the State for the purpose of investing in financing for such enterprise.
4. Representative of direct ownership in an enterprise of which 100% charter capital is held by the State (hereinafter referred to as representative of direct ownership) refers to the person who competent authorities have appointed to the Board of Members or as the President of that enterprise in order to acquire the rights and perform the duties of a representative of state ownership retained in such enterprise.
5. Representative of the capital share of an enterprise of which 100% charter capital is held by the State in a joint-stock company or limited liability company (hereinafter referred to as the representative of an enterprise’s capital share) refers to the person delegated in writing by that enterprise in order to accept the rights and assume the duties of a representative of such enterprise's capital share invested in such a joint-stock company or limited liability company.
6. Representative of the capital share that the State invests in a joint-stock company or multiple-member limited liability company (hereinafter referred to as representative of state capital share) refers to the person delegated in writing by the owner’s representative agency in order to accept the rights and assume the duties of a representative of such enterprise's capital share invested in such a joint-stock company or limited liability company.
7. Management of an enterprise comprises the Chairperson and membership of the Board of Members, the President, General Director or Director, Deputy General Director or Vice Director, Chief Accountant of that enterprise.
8. State capital used as financing for an enterprise (hereinafter referred to as state capital in an enterprise or enterprises) consist of capital assets and grants derived from the state budget; the enterprise’s capital coming from the fund for investment, development, assistance in organizing an enterprise; loans guaranteed by the Government, and loans granted by the State for the purpose of investment and development as well as other types of capital asset invested by the State in an enterprise.
9. Capital share of the enterprise of which 100% charter capital is held by the State includes the equity capital of such enterprise and capital mobilized by that enterprise.
Article 4. Objectives for investment, management and utilization of state capital in an enterprise
1. Orientate, regulate and stabilize strategic macroeconomic matters for respective periods, and promote the socialist-oriented socio-economic growth.
2. Reform and improve investment, management and utilization of state capital in an enterprise.
3. Enhance the efficiency in manufacturing and business activities of an enterprise.
Article 5. Principles of investment, management and utilization of state capital in an enterprise
1. Comply with laws on investment, management and utilization of state capital in an enterprise.
2. Conform to the strategy and proposal for socio-economic growth as well as the planning for sector development.
3. Make state capital investment in creation and maintenance of important stages and processes of the enterprise getting involved in several sectors or domains that other economic entities are not involved in or of which 100% charter capital is held by the State, and sustain the proportion of stocks and paid-in capital in accordance with regulations laid down in Article 10 and 16 hereof.
4. The owner's representative agency and regulatory bodies shall not directly get involved in manufacturing and business activities of an enterprise, and administrative work of the enterprise’s management.
5. Management of state investments in an enterprise must be carried out through the representative of direct ownership or of state capital share; ensure that manufacturing and business activities of that enterprise adhere to principles of market, equality, cooperation and lawful competition.
6. The owner’s representative agency, representative of direct ownership and representative of state capital share shall be responsible for managing and using state capital in an enterprise, ensure the efficiency, safety and promote the value of state investments in that enterprise; prevent and combat mismanagement, misuse and loss of capital assets of the State and that enterprise.
7. Public disclosure and transparency in investment, management and utilization of state capital invested in an enterprise must be respected.
8. It must comply with the international agreements to which the Socialist Republic of Vietnam is a signatory.
Article 6. Form of state investment in an enterprise
1. Make state investment in establishment of the enterprise of which 100% charter capital is held by the State.
2. Make state investment in supplementation to the charter capital of the existing enterprise of which 100% charter capital is held by the State.
3. Make supplementary state investment for the purpose of sustaining the expected ratio of state shares and paid-in capital in joint-stock companies and multiple-member limited liability companies.
4. Make state investment in repurchase of a part or the whole of an enterprise.
Article 7. Representative of state ownership
1. The Government shall unanimously accept the rights and perform the duties of a representative of state ownership for the investment of state capital in an enterprise and the management of state capital in that enterprise in accordance with regulations laid down in Article 40 hereof.
2. The Prime Minister and the owner’s representative agency shall acquire the rights and become obligated to perform the duties of the representative of state ownership in the enterprise established under their decision, or shall be assigned to manage and accept the rights and assume the duties to a share of the state capital invested in joint-stock companies and multiple-member limited liability companies in accordance with regulations set forth in Article 41, 42 and 43 hereof as well as other relevant laws.
3. The representative of direct ownership shall acquire the rights and become obligated to perform the duties of the representative of state ownership in an enterprise in accordance with regulations set out in Article 44 hereof and relevant laws.
Article 8. State administration of the investment, management and utilization of state capital in an enterprise
1. Introduce and implement the legislative documents on investment, management and utilization of state capital retained in an enterprise.
2. Draw up the strategy for corporate investment and development in conformity with the strategy for socio-economic development and the planning for sector development.
3. Set up and store basic information about an enterprise; monitor, supervise corporate activities.
4. Release the list and modality of financial management and incentive policy for public products and services for respective periods.
5. Supervise, examine and inspect the compliance of an enterprise with governmental policies and laws; handle any complaints and denunciations; offer rewards and handle violations.
Article 9. Prohibited acts of the investment, management and utilization of state capital in an enterprise
1. Make a decision to invest state capital assets in an enterprise, which falls outside of authority, scope, process and procedure.
2. Influence the management and utilization of capital assets of the enterprise of which 100% charter capital is held by the State, which stays beyond their delegated authority.
3. Falsely accept the rights and perform the duties of a representative of state ownership for the investment of state capital assets in an enterprise.
4. Falsely implement regulations on management and utilization of capital assets of the enterprise of which 100% charter capital is held by the State as well as management of state investments in joint-stock companies and multiple-member limited liability companies.
5. Monitor, examine and inspect the enterprise in violation of assigned tasks, duties or delegated powers, which must conform to legal regulations.
6. Provide information and report in incorrect, insufficient and untimely manner as prescribed in laws.
7. Reveal and use illegal information that an enterprises or regulatory body provides.
Tìm kiếm
Luật Quản lý, sử dụng vốn Nhà nước 2014 (Bản Word)
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