Chương 5 Nghị định 111/2007/NĐ-CP: Điều khoản thi hành

Chapter 5:

IMPLEMENTATION PROVISIONS

Article 47. Effects

1. This Decree takes effect 15 days after its publication in Official Gazette and replaces Decree No.153/2004/ND-CP dated August 09, 2004 of the Government on organization, management of the State-owned corporations, indepentdent State-owned companies and conversion of the State-owned corporations, indepentdent State-owned companies upon the form of parent-subsidiary companies.

2. The State Corporation decided to invest and set up by the State, independent state-owned companies, independent accounting member companies of the corporation, the parent company being state-owned companies in the model of parent – subsidiary company, parent companies in the economic group decided to establish by the Prime Minister, meeting the requirements specified in clause 3 Article 74 of the 2003 Law on State-owned Enterprises and the conditions provided in Article 36 of this Decree, must be converted to the form of parent - subsidiary company before July 01, 2010.

3. Corporation or independent state-owned companies, independent accounting member companies of the corporation satisfying the conditions specified in point a and point c clause 1 Article 36 or point a and point c clause 2 Article 36 of this Decree but not subject to the case the State holds 100% of charter capital is converted to the form of parent - subsidiary company in which the parent company is the shareholding company; order and procedures for the transfer into shareholding company is according to the current regulations on equitization of state-owned companies. Mode of reorganization and conversion upon the form of parent company - subsidiary company may apply the provisions in Article 37 and Article 38 of this Decree.

4. The enterprises specified in clause 2 and clause 3 of this Article which are in the process of conversion to the form of parent - subsidiary company, may continue to operate under the State-owned Enterprises Law, this Decree and relevant legislation to prior to July 01, 2010.

5. State-owned corporation decided to invest and set up by the State not meeting the conditions of conversion upon the form of parent company - subsidiary company must be reorganized, changed its ownership or dissolved; measures, the term of reorganization, change of ownership or dissolved in accordance with the Government provisions on the establishment, reorganization, dissolution or change of ownership of state-owned companies.

6. For the State-owned corporations, independent state-owned companies, independent accounting member companies of the State-owned corporation having enough conditions of conversion and reorganization upon the form of parent - subsidiary company, in which the company held 100% of the charter capital by the State, then when performing the conversion, it must be formed the parent company being one member limited liability company.

7. For the State-owned corporations, independent state-owned companies, independent accounting member companies from the corporation approved conversion scheme in which the parent company is state-owned companies but not yet registered business and not yet reregistered assets, shall adjust the plan of forming parent company and make business registration under the form of one member limited liability company owned by the State.

Article 48. Responsibility for implementation and execution

1. The Ministries of: Planning and Investment, Finance, Labour - War Invalids and Social Affairs, Home Affairs shall guide the implementation of this Decree.

The Ministry of Planning and Investment is responsible for monitoring the implementation of this Decree.

2. The ministers, heads of ministerial-level agencies, heads of Governmental agencies, Chairmen of People's Committees of provinces and cities directly under the Central Government, the presidents of the Board Management, General Director of the economic groups, the state-owned corporation are responsible for the implementation of this Decree./.