Chapter III
ORGANIZATION OF IMPLEMENTATION
Article 15.- Competence to select and decide enterprises for equitization:
1. Basing themselves on the conditions prescribed in Article 1 of this Decree, the ministers, the heads of the ministerial-level agencies, the heads of the agencies attached to the Government (hereafter referred collectively to as the ministers), and the presidents of the People's Committees of the provinces and cities directly under the Central Government (hereafter collectively referred to as the presidents of the provincial People's Committees) shall select and decide the enterprises to be equitized.
2. The Managing Boards of the State Corporations established by decision of the Prime Minister (called Corporations 91 for short) shall draw up lists of their respective member enterprises selected for equitization and submit them to the Prime Minister for ratification before organizing the implementation thereof.
3. The Managing Boards of the State Corporations established by decision of ministers or presidents of the People's Committees of the provinces and cities directly under the Central Government (Corporations 90 for short) under the Prime Minister's authorization, shall draw up lists of their respective member enterprises selected for equitization and submit them to the ministers or the presidents of the provincial People's Committees for decision.
Article 16.- Competence to guide and decide the values of enterprises:
1. The Minister of Finance shall provide general guidance on methods of determining the values of to-be-equitized enterprises.
2. Competence to decide the values of enterprises:
a/ The Minister of Finance shall decide the values of enterprises that have, at the time of equitization, the State's capital of over 10 billion VND as recorded in their accounting books, after consulting the concerned branch-managing ministries, People's Committees of the provinces and cities directly under the Central Government and/or the Managing Boards of Corporations 91.
b/ Basing themselves on guidance of the Minister of Finance, the ministers, the presidents of the People's Committees of the provinces and cities directly under the Central Government and/or the Managing Boards of Corporations 91 shall decide the values of enterprises that have, at the time of equitization the State's capital of 10 billion VND or less as recorded in their accounting books.
Article 17.- Competence to ratify equitization plans and decide the transformation of State enterprises into joint-stock companies:
1. For enterprises having the State capital value of over 10 billion VND (according to the provisions of Clause 2, Article 16 of this Decree): the ministers, the presidents of the provincial People's Committees and the Managing Boards of Corporations 91 shall elaborate the equitization plans and submit them to the Prime Minister for ratification and decision on the transformation of such enterprises into joint-stock companies.
2. For enterprises having the State capital value of 10 billion VND or less, the ministers or the presidents of the provincial People's Committees shall ratify plans and decide on the transformation of such enterprises into joint-stock companies and direct the equitization on the basis of this Decree as well as on the inspection guidances of the relevant ministries.
All equitization documents of the ministries, provinces and Managing Boards of Corporations 91 must be sent to the Government Office, the Ministry of Finance and the Ministry of Planning and Investment for monitoring.
Article 18.- The competent agencies' decisions to transform State enterprises into joint-stock companies as prescribed in Article 17 of this Decree shall replace the permits for setting up joint-stock companies as mentioned in Article 16 of the Law on Companies.
Article 19.- Registration of business of a joint-stock company:
1. The enterprises, after being equitized, shall operate in accordance with the Law on Companies and register their business at the Planning and Investment Departments of the provinces or cities directly under the Central Government, where the enterprises' head offices are located.
2. Within seven days from the date of receiving the full dossiers of business registration, the Planning and Investment Departments shall issue business registration certificates to joint-stock companies.
3. A dossier of business registration shall include:
a/ The decision on the transformation of the State enterprise into a joint-stock company, issued by the competent level prescribed in Article 17 of this Decree.
b/ The statue on organization and operation of the joint-stock company already approved by the shareholders' congress.
c/ The report on the election of the Managing Board and the appointment of the executive Director.
d/ The business registration certificate (if any) of the State enterprise before equitization.
Business permits granted by specialized branch-managing ministries, if they are still valid, shall not have to be changed.
Article 20.- Manager of the State's capital at a joint-stock company:
1. For cases where entire independent enterprises are transformed into joint-stock companies:
The concerned ministers, the presidents of the provincial People's Committees or the Managing Boards of Corporations 91 shall consult with the Ministry of Finance on the appointment of a person to directly manage the State's capital at the joint-stock companies.
2. For cases where sections of independent enterprises (State corporations, independent enterprises with or without Managing Boards) are transformed into joint-stock companies:
The Managing Boards of the State enterprises which have Managing Boards or the Directors of the independent State enterprises which have no Managing Boards shall appoint persons to directly manage the State's capital at the joint-stock companies established through the equitization of sections of their respective enterprises.
3. The person directly managing the State's capital at a joint-stock company shall exercise his/her rights and fulfill his/her obligations as prescribed in Articles 50 and 54 of the Law on State Enterprises.
4. The profit earned from the State's capital at a joint-stock company shall belong to the State and be remitted to:
a/ The State budget, with regard to cases mentioned in Clause 1 of this Article;
b/ The enterprise that manages the State's capital in the joint-stock company, with regard to cases mentioned in Clause 2 of this Article.
Tìm kiếm
Nghị định 44/1998/NĐ-CP (Bản Word)