Chương 5 Nghị định 109/2007/NĐ-CP: Chính sách đối với doanh nghiệp và người lao động khi cổ phần hóa

Chapter V

POLICIES APPLICABLE TO ENTERPRISES AND TO EMPLOYEES AFTER EQUITIZATION

Article 50. Incentives to which the enterprise is entitled after equitization:

1. Exemption from registration fees on transfer of assets under the management and use right of the equitized State owned enterprise to ownership of the shareholding company.

2. Exemption from registration fees for the issuance of a business registration certificate upon conversion from an enterprise with 100% State owned capital into a shareholding company.

3. In order to stabilize production and business activities, [the shareholding company] shall be entitled to re-sign lease contracts for land, residential housing and other buildings on similar conditions as previously applied to the enterprise, or shall be entitled to preferential treatment to acquire such housing and buildings at the market price as at the time of equitization.

4. Entitlement to land use rights in accordance with the law on land.

5. Entitlement to maintain and develop Welfare Funds in kind, such as cultural facilities, clubs, out- patient clinics, nursing homes and kindergartens in order to ensure the welfare of employees of the shareholding company. Such assets shall be under the ownership of the labour collective and managed by the shareholding company.

Article 51. Incentives to which employees of the enterprise undergoing equitization shall be entitled:

1. Employees named on the list of regular employees of the enterprise as at the time of the announcement of the value of the equitized enterprise shall be entitled to purchase up to a maximum of one hundred (100) shares for each year of actual employment in the State sector with the selling price stipulated in article 37.2 of this Decree.

2. Entitlement to receive distribution of any cash balance in the Reward and Welfare Funds (including the vale of assets used in production and business the investment in which was funded by the Reward and Welfare Funds) stipulated in articles 14 and 15 of this Decree, in order to purchase shares.

3. Employees who transfer to work in the shareholding company shall continue to participate in social insurance and shall be entitled to benefits in accordance with current regulations.

4.Employees who satisfy the conditions for entitlement to pension benefits as at the time of the announcement of the value of the equitized enterprise shall be entitled to receipt of a pension upon retirement and to benefits in accordance with current regulations.

5. Employees who lose their jobs or who cease work at the time of the announcement of the value of the equitized enterprise shall be paid retrenchment allowances and allowances on ceasing work in accordance with regulations.