Chapter I
GENERAL PROVISIONS
Article 1.- Subject to the regulation of this Decree are enterprises mentioned in Article 1 of the Law on State Enterprises, where the State needs not to hold 100% investment capital, which shall be defined in the Appendix attached to this Decree.
Article 2.- The transformation of State enterprises into joint-stock companies (hereafter referred to as equitization for short) aims to achieve the following objectives:
1. Mobilizing capital from the entire society, including domestic and foreign individuals, economic organizations and social organizations for investment in renewing technologies, creating more jobs, developing enterprises, raising the competitiveness and restructuring State enterprises.
2. Creating conditions for laborers in enterprises to have shares and for the capital contributors to be the real masters; changing the mode of management to create a motive force for enterprises to enhance their business efficiency, increase the State's assets and the laborers' incomes and thus contributing to the national economic growth.
Article 3.-
1. Economic organizations, social organizations, Vietnamese citizens, overseas Vietnamese and foreigners residing in Vietnam shall all be entitled to buy shares in the equitized State enterprises.
2. The sale of shares to foreign organizations and individuals shall comply with the regulations of the Prime Minister.
Article 4.- The ownership right and all legitimate rights of organizations and individuals that buy shares in the equitized enterprises shall be protected by the State in accordance with the provisions of law.
Article 5.- Shares shall be publicized for sale at the equitized enterprises or through commercial banks, financial companies and stock exchange services and centers.
Article 6.- The equitized enterprises shall have to arrange and fully employ the existing number of their laborers. As for the laborers who voluntarily terminate their labor contracts, the current regulations shall apply.
Article 7.- The equitization shall be conducted in one of the following forms:
1. Maintaining the existing value of the State's capital at the enterprise while issuing shares to attract more capital for the development of such enterprise;
2. Selling part of the existing value of the State's capital at the enterprise;
3. Separating a section of the enterprise that meets conditions for equitization; or
4. Selling the entire existing value of the State's capital at the enterprise in order to transform it into a joint-stock company.
Article 8.- The right to buy shares for the first time when equitization is carried out.
1. For an enterprise where the State holds prevailing or special shares:
a/ A legal person shall be entitled to buy not more than 10% of the total shares of the enterprise;
b/ An individual shall be entitled to buy not more than 5% of the total shares of the enterprise.
2. For an enterprise where the State does not hold prevailing or special shares:
a/ A legal person shall be entitled to buy not more than 20% of the total shares of the enterprise;
b/ An individual shall be entitled to buy not more than 10% of the total shares of the enterprise.
3. For an enterprise where the State does not hold any shares:
The number of shares to be bought by each legal person or individual shall not be limited but the minimum number of shareholders must be ensured in accordance with the provisions of the Law on Companies.
4. The amount of capital borrowed by the enterprise from laborers before the equitization shall be transformed into the company's shares, if so agreed upon by the laborers.
5. Subjects prescribed in Clause 2, Article 13 of the Ordinance Against Corruption shall be entitled to buy at preferential prices only a number of shares, not more than the average number of shares of the shareholders in the enterprise.
Article 9.- Use of the proceeds from the sale of shares belonging to the State's capital:
The proceeds from the sale of shares belonging to the State's capital at the enterprise, after deducting the equitization expenses, shall be used by the People's Committee of the province or city directly under the Central Government (for local enterprises), by the Ministry of Finance (for enterprises attached to the ministries and general departments), or by the Managing Board of a Corporation 91 (for member enterprises of the Corporation) for:
1. Training and retraining laborers to create new jobs for them.
2. Providing allowances for the redundant laborers.
3. Supplementing capital for State enterprises that need to be prioritized for consolidation and investing in State enterprises that have been equitized according to the ratified plan.
Article 10.- The Ministry of Finance shall perform the unified management of the print forms and the provision of share certificates in equitized enterprises; and ensure that the shareholders receive their shares within 30 days from the end of the issuance time-limit of the equitized enterprise.
Tìm kiếm
Nghị định 44/1998/NĐ-CP (Bản Word)