Chương 7 Nghị định 187/2004/NĐ-CP: Tổ chức thực hiện

Chapter VII

ORGANIZATION OF IMPLEMENTATION

Article 40. Powers and responsibilities of ministries, people's committees of provinces and cities under central authority, and boards of management of State owned corporations

1. Ministers, heads of ministerial equivalent bodies, heads of Government bodies and chairmen of people's committees of provinces and cities under central authority shall, based on the plans for restructuring State owned enterprises as approved by the Prime Minister of the Government:

(a) Organize valuations of State owned corporations undergoing equitization and send the results to the Ministry of Finance to check and to make a decision on announcement;

(b) Submit equitization plans for the whole of State corporations to the Prime Minister of the Government for approval;

(c) Make decisions on equitization of enterprises within their management; make decisions on the value of enterprises; and approve equitization plans in order to convert State owned companies into shareholding companies;

(d) On their own initiative check for enterprises which no longer have any portion of State owned capital and then transfer those enterprises from the list of enterprises to undergo equitization to the list of enterprises to be assigned, sold or declared bankrupt;

(dd) Resolve, within their authority, any difficulties for equitized enterprises within a time-limit of fifteen (15) days from the date of receipt of a complete file. Any issues outside authority must be promptly reported to the Prime Minister of the Government for his consideration and decision;

(e) Forward decisions announcing the valuation of an enterprise, decisions approving equitization plans and any other legal instruments on equitization for monitoring purposes to the Steering Committee for Enterprise Renovation and Development and to the Ministry of Finance, in order for the latter bodies to provide overall reports to the Prime Minister of the Government;

If any approved equitization plan fails to be implemented, the head of the agency managing the enterprise shall be disciplined in accordance with current regulations.

2. Boards of management of State owned corporations shall be responsible:

(a) To organize the restructure of enterprises under the corporation in accordance with the plans for restructuring State owned enterprises as approved by the Prime Minister of the Government;

(b) To direct member companies to deal with existing financial issues in accordance with Chapter II of this Decree, to hold valuations of enterprises, and to prepare equitization plans and submit them to the competent level for approval;

(c) To themselves deal with existing financial issues of enterprises undergoing equitization within their authority;

If any approved equitization plan fails to be implemented, the board of management of a State owned corporation shall be disciplined in accordance with current regulations.

3. The Steering Committee for Enterprise Renovation and Development and the Ministry of Finance shall be responsible to assist the Prime Minister of the Government to direct, inspect, supervise and activate ministries, ministerial equivalent bodies, Government bodies, people's committees of provinces and cities under central authority and State corporations to carry out equitization work in accordance with law and approved plans for restructuring State owned enterprises.