Chương 6 Nghị định 187/2004/NĐ-CP: Quyền và nghĩa vụ của cổ đông

Chapter VI

RIGHTS AND OBLIGATIONS OF SHAREHOLDERS

Article 38. Strategic investors shall have the following rights and obligations:

1. Rights:

(a) To purchase incentive shares pursuant to articles 27.3 and 28.2 of this Decree;

(b) To engage in management of the shareholding company in accordance with the provisions of law and the charter of the shareholding company;

(c) To use their shares to pledge or mortgage in credit relationships in Vietnam;

(d) To exercise other rights stipulated by the law and the charter of the shareholding company.

2. Obligations:

(a) To discharge undertakings made when purchasing shares;

(b) Not to transfer shares purchased at incentive rates pursuant to article 27.3 of this Decree within a period of three years after the date on which a business registration certificate is issued to the shareholding company. If in special circumstances this number of shares needs to be transferred, then the board of management of the company must agree;

(c) Other obligations stipulated by the law and the charter of the shareholding company.

Article 39. Rights and obligations of other shareholders

Other shareholders shall have the rights and obligations stipulated in the Law on Enterprises and the charter of the shareholding company.

In particular, foreign shareholders shall convert income received as share dividends or proceeds of share assignment in Vietnam into foreign currency for remittance overseas after payment of all tax obligations in accordance with the provisions of the law. If foreign investors use share dividends to re-invest in Vietnam, they shall be entitled to incentives under the Law on Promotion of Domestic Investment.

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