Chương I Nghị định số 131/2018/NĐ-CP: Những quy định chung

Chapter I

GENERAL PROVISIONS

Article 1. Position and functions

1. The Commission for the Management of State Capital at Enterprises (hereinafter referred to as “CMSC”) is a government agency; is designated by the Government to exercise rights and take on duties as the owner’s representative to wholly state-owned enterprises and state capital invested in joint-stock companies and multi-member limited liability companies in accordance with laws.

2. International business name: Commission for the Management of State Capital at Enterprises, abbreviated as CMSC.

3. CMSC is a level-I budget estimate unit of the central-government budget.

Article 2. Relationship of CMSC with regulatory authorities

1. CMSC shall exercise rights and take on duties as the owner's representative to enterprises in accordance with laws on use and management of state capital invested in manufacturing and business operations of enterprises; comply with regulations on financial management for enterprises and mechanism for financial supervision of enterprises of which CMSC acts as the owner’s representative.

2. CMSC and enterprises of which CMSC represents the owner shall manage and use state capital to make investments in conformity with national strategies, plans and policies for development of industries approved by competent authorities.

3. CMSC shall cooperate with relevant regulatory authorities in placing orders and assigning enterprises to perform duties concerning public interests or other socio-economic duties in accordance with laws.

Article 3. Principles of assignment of duties to manage enterprises

1. Conform to principles of transfer of rights of a representative of the owner of state capital in enterprises in accordance with regulations on use and management of state capital invested in manufacturing and business operations of enterprises.

2. The transfer of documents concerning the rights to represent the owner in enterprises from ministries, ministerial-level agencies, the Government agencies, people’s committees of provinces and central-affiliated cities (hereinafter referred to as “transferring agencies”) must adhere to the principle of preserving the status quo.

3. With regard to plans, programs, projects and operations of enterprises and other contents within the authority and responsibility of the owner’s representative, which have been decided by transferring agencies before the date of entry into force of this Decree, enterprises shall continue implementing decisions of such transferring agencies.

4. With regard to plans, programs, projects and operations of enterprises and other contents within the authority and responsibility of the owner's representative of which procedures are being conducted for obtaining decisions from transferring agencies:

a) If procedures for obtaining approval from the owner's representative have been conducted in accordance with laws and the submitted application documentation is satisfactory, enterprises shall continue reporting CMSC for considering and deciding within its competence;

b) If procedures for obtaining approval from the owner's representative have been conducted in accordance with laws and the submitted application documentation is not yet satisfactory, CMSC shall request enterprises and transferring agencies to supplement documents as regulated;

c) If procedures for obtaining approval from the owner's representative have been conducted inconsistently with laws, CMSC shall request enterprises to conduct procedures in accordance with laws.

5. With regard to plans, programs, projects and operations of enterprises which are managed and executed by transferring agencies as assigned by the National Assembly, the Government or the Prime Minister in medium-term and annual plans:

a) Transferring agencies shall continue implementing plans of the current year and assume responsibility to make payment and statement of plans, programs and projects until completing such plans of the current year;

b) CMSC shall receive in-progress plans, programs, projects and operations of enterprises for managing and organizing the implementation of plans of the following year.