Quyết định 151/2005/QD-TTg

DECISION

ESTABLISING THE CAPITAL INVESTMENT AND TRADING

THE PRIME MINISTER

Pursuant to the December 25, 2001 Law on Organisation of the Government;
Pursuant to the November 26, 2003 Law on State Enterprises;
Pursuant to the Governments Resolution No. 10/2004/NQ-CP of August 11, 2004;
At the proposal of the Minister of Finance,

DECIDES:

Article 1stablish the Corporation for State Capital Investment and Trading, which shall manage, invests and trade in state capital at enterprises and in domains according to the provisions

law.

Article 2oration for State Capital Investment and Trading (hereinafter called the Corporation for short) is a special economic organisation of the State, operating under the Law on State Enterprises and other relevant laws.

The Corporation has the legal person status under Vietnamese law and its own seal, and may open accounts at the State Treasury and domestic as well as foreign commercial banks according to the provisions of law.

The Corporation is headquartered in city and has o number of its member companies, branches and representative offices at home and abroad.

Article 3 The Corporation has the following major functions and tasks:

1. To receive, and act as the representative of ownership over, the state capital invested in state-run one-member limited liability companies, limited liability companies with one or two members, and joint-stock companies transformed from independent state companies or newly set up ones.

2. To invest and trade in state capital in economic branches and domains at home and abroad

in forms of:

a. Investment of capital in setting up enterprises in important branches and/or domains where the State needs to play the dominant role;

b. Investment in contribution of joint-venture or partnership capital or contribution stock capital with other enterprises;

c. Investment in purchase of part of assets or whole of other enterprises;

d. Investment in the capital market or securities market through purchasing and/or selling stocks, bonds and other financial instruments.

3. To make investment, and manage the investment capital of the Corporation in domains and/or branches of the national economy according to the State-assigned tasks.

4. To mobilize domestic and foreign capital sources in order to supplement business capital through capital borrowing, issuance of corporate bonds or project bonds, or setting up of investment trust funds according to the provisions of law on state companies.

5. To provide such financial services as investment consultancy, financial consultancy, equitization consultancy, enterprise ownership transformation consultancy; to accept entrusted investment capital sources from domestic and foreign organisations and individuals

6. To perform international cooperation tasks in the domain of capital investment and trading.

7. To provide services in support of enterprises.

8. To carry out other activities according to the provisions of law.

Article 4 Working capital of the Corporation comprises:

1. Initial legal capital: VND 5,000 (five thousand) billion, including:

a. Allocated state budget capital: VND 1,000 (one thousand) billion under the Prime

Ministers Decision No. 92/QD-TTg of January 29, 2002;

b. Capital received from companies defined in Clause 1, Article 3 of this Decision, at the time of establishment of the Corporation.

2. State capital added to the Corporation for investment, and capital additionally received from companies defined in Clause 1, Article 3 of this Decision

3. Capital added from post-tax profits; mobilized capital and capital from other lawful sources.

Article 5 Finance of the Corporation

The Corporation is an independent economic cost-accounting unit, has financial autonomy and applies a centralized book-keeping cost-accounting regime. The accounting, accounting reporting, financial reporting, statistical reporting and audit regimes shall comply with regulations. The Corporation shall have to perform financial obligations and enjoy preferential policies according to the provisions of law.

Article 6 Organizational structure, managing and administering apparatuses of the Corporation are composed of:

1. The Managing Board, the Control Board.

2. The general director, deputy general directors, the chief accountant and assisting functional divisions

3. Member companies, branches and representative offices

Article 7 Corporation shall have to receive, invest and trade in capital efficiently; preserve and develop state capital. The specific tasks, rights and obligations of the Corporation shall comply with the Corporations Charter

Article 8 Organisation of Implementation

1. The Minister of Finance shall promulgate the Financial Regulation applicable to the

Corporation and guide and organise the implementation of this Decision.

2. Ministers, heads of ministerial-level agencies, heads of Government-attached agencies, and presidents of provincial/municipal Peoples Committees shall have to transfer the ownership over state capital at companies defined in Clause 1, Article 3 of this Decision to the Corporation according to regulations.

3. The Managing Board and the general director of the Corporation shall have to organise the operation of the Corporation in strict accordance with regulations.

Article 9 This Decision takes effect 15 days after its publication in CONG BAO.

Ministers, heads of ministerial-level agencies, heads of Government-attached agencies, presidents

provincial/municipal Peoples Committees, chairmen of managing boards, general directors and directors of concerned enterprises shall have to implement this Decision.