Chương VII Nghị định 48/2017/NĐ-CP: Tổ chức lại, đa dạng hóa sở hữu, giải thể và phá SẢN SCIC

Chapter VII

REORGANIZATION, OWNERSHIP DIVERSIFICATION, DISSOLUTION AND BANKRUPTCY

Article 70. SCIC’s reorganization

Forms of SCIC reorganization shall be as follows: Merger, consolidation, splitting, division, transformation and others prescribed by laws.

1. SCIC reorganization shall be subject to the Prime Minister’s decision where necessary upon the request of the Ministry of Finance and shall conform to legally required procedures and documentation requirements.

2. The Prime Minister shall decide specific solutions to SCIC reorganization as per law.

Article 71. Ownership diversification

1. SCIC must diversify ownership types to the extent that the Prime Minister decides to equitized and transfer part or all of state capital invested in SCIC.

2. Regulatory procedures and documentation requirements for diversification of ownership shall be subject to respective laws on ownership diversification approaches.

Article 72. Dissolution

1. Dissolution of SCIC’s business shall be considered in the following cases:

a) Upon expiration of its lifetime specified in the Charter, no extension decision is granted;

b) Such dissolution is subject to the decision of the Board of Directors after receipt of consent from a competent regulatory authority;

c) Its Enterprise Registration Certificate is revoked;

d) Other circumstances prescribed in law arise.

2. SCIC may be dissolved only to the extent that all debts and other asset-related obligations are paid in full, and SCIC is not falling into the situation in which any dispute that it involves is resolved by a Court or arbitration authority.

3. Dissolution of SCIC’s business must conform to the general program on reorganization, reform and restructuring of state enterprises that the Prime Minister has approved; in case where such dissolution is not prescribed in that program, the Ministry of Finance shall petition the Prime Minister to consider granting his decisions.

Article 73. Bankruptcy

In case where SCIC loses capacity to pay debts due, and even though necessary financial actions have been applied but it remains unable to repay these debts, regulations laid down in the Law on Bankruptcy shall be applied.