Charter Capital of the Computerized Lottery Company

01:33, 11/07/2024

This is a notable provision stipulated in Circular 120/2016/TT-BTC, which was issued by the Ministry of Finance on July 14, 2016.

Circular 120 stipulates that the charter capital of the Company is 500 billion VND (five hundred billion VND), in which:

- Initial state capital allocation: 300 billion VND (three hundred billion VND);- Supplementary capital during business operations: 200 billion VND (two hundred billion VND) from the Development Investment Fund established from after-tax profits and other legal sources according to legal regulations.

Note

When adjusting the charter capital, it must be done according to legal regulations. When there is a change in the charter capital, the Company must adjust the charter capital in the Certificate of Business Registration and disclose information as required by law.

Additionally, Circular 120 also stipulates the state's ownership and the state's representative ownership for the Company as follows:

- The state is the owner of the Company. The Ministry of Finance, as assigned by the Government of Vietnam, performs the rights and obligations of the owner concerning the Company.- The Chairman of the Company is appointed by the Minister of Finance and is the direct representative of the owner at the Company to execute certain rights and obligations of the owner at the Company following legal regulations and the Charter.

See details Circular 120/2016/TT-BTC effective from July 14, 2016.

-Thao Uyen-

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