Limitations of the Chairman and General Director of Vietnam Computerized Lottery Company

01:16, 11/07/2024

This content is specifically stipulated in Circular 120/2016/TT-BTC issued by the Ministry of Finance on July 14, 2016.

Circular 120 stipulates that the Company Chairman and the Company General Director:

- Are not allowed to let their spouse, father, adoptive father, mother, adoptive mother, child, adopted child, biological brother, or sister hold the position of Chief Accountant or Treasurer of the Company;- Must report to the Company owner about the Company's economic and civil contracts signed with the spouse, father, adoptive father, mother, adoptive mother, child, adopted child, biological brother, or sister of the Company Chairman and General Director. In case it is discovered that the contract has a selfish purpose but has not yet been signed, the owner has the right to require the Company Chairman and General Director not to sign that contract. If the contract has already been signed, it is considered invalid. The Company Chairman and General Director must compensate for any damages to the Company and be handled according to the provisions of the law.

Other cases will be handled according to the provisions of the law, the Company's Charter, and the decisions of the Company owner (if any).

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

-Thao Uyen-

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