Chương IV Nghị định 189-CP: Về đại diện hợp pháp của doanh nghiệp

IV. ON THE LEGAL REPRESENTATIVE OF THE BUSINESS

Article 7.-

1. The legal representative of a business in the process of settling the request for declaration of bankruptcy may be a representative by law or a representative by mandate.

2. The legal representative of a business may be one of these persons:

a/ The President of the Managerial Board of a State-owned business or a business of political and social organizations which has such a board, or the Director or General Director of a State-owned business or a business of political or social organization which has no Managerial Board.

b/ The President of the Managerial Board of a stock company, a business with foreign investment, or a limited liability company having 12 and more members. In case this company has no Managerial Board, the legal representative is the person assigned to manage the company and this is written in the company Statute.

c/ The Chairman of a cooperative.

3. The representative by law of the business stated at Item 2 of this Article may empower in writing a member of the Management Council, the Managerial Board, the Deputy Director or Deputy General Director, or Deputy Chairman to join in the process of settling the bankruptcy of the business. The mandate must clearly define the authority with the representative is empowered to act.

4. The owner of a private business, the owner of a business with 100% of foreign investment where a managerial board is not set up, must directly take part in the process of settling the bankruptcy of the business. He/she may, for a plausible reason, empower in writing another to take part in this process.