Chapter II
CONDITIONS AND PROCEDURES FOR ESTABLISHMENT OF FUNDS
Article 8. Founding members
1. Founding members of a fund must fully meet the following conditions:
a/ Vietnamese citizens who are aged full 18 years or older and have full civil act capacity may establish a fund;
b/ Vietnamese organizations, joint-venture enterprises or enterprises with 100% foreign investment capital which are lawfully established in Vietnam, capable of contributing property to a fund as committed and their leaderships have reached written agreement on the establishment of a fund and made decisions on the appointment of representatives to establish a fund;
c/ Individuals or organizations that receive testamentary legacies and are obliged to establish a fund at the request of those who bequeath or donate their property under a contract on the establishment of a fund may establish a fund;
d/ Foreign individuals and organizations may contribute their property with Vietnamese individuals or organizations to establish a fund in Vietnam.
2. For funds with two or more founding members:
a/ Founding members shall set up a fund founding board;
b/ A fund founding board is composed of a head, a deputy head and founding members;
c/ The fund founding board shall compile a dossier of application for permission to establish a fund as prescribed in Article 10 and send it to a competent agency specified in Article 14 of this Decree.
Article 9. Conditions for establishment of funds
1. A fund may be established if meeting the following conditions:
a/ Having operation purposes as prescribed in Article 2 of this Decree;
b/ Having received written commitments on the contribution of property from its being founding members;
c/ Having a charter and organizational structure in accordance with this Decree and relevant legal provisions;
d/ Having a head office.
2. The Minister of Home Affairs shall specify conditions for the establishment of funds.
Article 10. Dossiers of fund establishment
1. An application for the establishment of a fund.
2. The draft charter of the fund.
3. A plan on the establishment and operation of the fund.
4. Commitment on the funds head office.
5. Commitments on contribution of property for the establishment of the fund.
6. Status of founding members:
a/ Founding members being Vietnam citizens must have judicial records and commitments on the contribution of property or funds for the establishment of the fund;
b/ Founding members being foreigners must have personal records certified by a competent agency of the country of which they are citizens; commitments on the contribution of property or funds to Vietnamese individuals or organizations for the establishment of the fund; and commitment on the observance of Vietnamese law and operation purposes of the fund;
c/ Founding members being Vietnamese organizations: their names and addresses; resolutions of their leaderships on the participation in the establishment of the fund, enclosed with the decision on the amount of property contributed for the establishment of the fund; their charters and decisions on the appointment of representatives to participate in or act as founding member of the fund:
d/ For founding members being foreign organizations: names and addresses of their head offices; their charters; commitments on the contribution of property and observance of Vietnamese law and operation purposes of the fund; personal records of their representatives in the fund, certified by the organizations.
7. For funds established under testaments or authorization contracts of organizations or individuals: notarized copies of the testaments or authorization contracts.
Article 11. Principal contents of the charter of a fund
1. The name of the fund.
2. The funds operation objectives, domain and geographical area.
3. The funds tasks and powers.
4. Principles on the organization, operation, organizational structure, tasks, powers of the Fund Management Council, Control Board, chairman, director and other leading posts.
5. Mode of amending and supplementing the charter.
6. Principles on fund raising, receipt and use of donations.
7. Regulations on property and financial matters and management and use of assets and finances.
8. Commendation, discipline, complaints and denunciations and handling of violations in the operation of the fund.
9. Conditions for the consolidation, merger, division, splitting and dissolution of the fund.
Article 12. Conditions for a fund to operate
1. Having an establishment license and a charter recognition paper, granted by the Ministry of Home Affairs, the Peoples Committee of a province or centrally run city (referred to as provincial-level Peoples Committee) or the Peoples Committee of a district, town or provincial city (collectively referred to as district-level Peoples Committee).
2. Having an account with an adequate amount of money on credit contributed by founding members as committed at the bank or state treasury where the fund has registered to open the account and the Fund Management Councils written certification of other property which founding members have already contributed as committed.
3. Having a head office for transaction.
4. Having announced its establishment on three consecutive issues of a central printed newspaper or online newspaper, for funds licensed by the Ministry of Home Affairs; of a provincial printed newspaper or online newspaper, for funds licensed by provincial-level or district-level Peoples Committees. The announcement contains: the funds name, full name of its head, bank account number, name and address of the bank where the account is opened, initially registered property of the fund, main operation domain, address, telephone number and e-mail address (if any) of the fund.
Article 13. Fund establishment licenses and charter recognition papers
1. Fund establishment licenses and charter recognition papers:
a/ For a newly established fund, the fund establishment license is also the charter recognition paper;
b/ Fund establishment licenses and charter recognition papers may be modified at the request of the Fund Management Council. All changes in the fund establishment licenses and the charter of funds must be approved and recognized by the Ministry of Home Affairs, provincial-level Peoples Committees or district-level Peoples Committees;
c/ Within 60 days after receiving a valid and complete dossier, the Ministry of Home Affairs, the provincial-level Peoples Committee or district-level Peoples Committee shall grant a fund establishment license and recognize the charter of the fund. In case of refusal to grant an establishment license and recognize charter of the fund, they shall issue a written reply, clearly stating the reasons.
d/ If the fund fails to commence its operation within 12 months after being granted the establishment license, the establishment license will cease to be valid. State agencies that have granted establishment licenses shall issue decisions to withdraw these establishment licenses.
2. The Ministry of Home Affairs shall issue forms of establishment license and charter recognition paper and specify the order of and procedures for grant and modification of establishment licenses and charter recognition papers.
Article 14. Competence to permit the establishment, consolidation, merger, division, splitting and dissolution of funds; to terminate the operation; to withdraw establishment licenses; to recognize funds charters; to rename funds and settle fund-related complaints and denunciations
1. The Minister of Home Affairs has the competence specified in this Article with respect to:
a/ Funds operating on a national or inter-provincial scale;
b/ Funds jointly established by foreign organizations or individuals under Point b, Clause 2, Article 1, of this Decree.
2. Presidents of provincial-level Peoples Committees have the competence specified in this Article with respect to funds operating within a province or several districts in a province.
Based on practical conditions, presidents of provincial-level Peoples Committees may authorize presidents of district-level Peoples Committees to decide on the establishment, consolidation, merger, division, splitting and dissolution of funds; termination of operation; withdrawal of establishment licenses; recognition of funds charters; and renaming of funds and settlement of complaints and denunciations about funds operating within districts or communes.
Tìm kiếm
Nghị định 148/2007/NĐ-CP (Bản Word)