Vietnam: Reveal and use of illegal information provided by enterprises are strictly prohibited

17:03, 04/10/2015

The Law on management and utilization of state capital invested in the enterprise’s manufacturing and business activities 2014 of Vietnam was promulgated on November 26, 2014, according to which there are acts strictly prohibited in investment, management and utilization of state capital in an enterprise.

Specifically, according to Article 9 of the Law on management and utilization of state capital invested in the enterprise’s manufacturing and business activities 2014 of Vietnam, acts prohibited in investment, management and utilization of state capital in an enterprise include:

One, make a decision to invest state capital assets in an enterprise, which falls outside of authority, scope, process and procedure.

Two, influence the management and utilization of capital assets of the enterprise of which 100% charter capital is held by the State, which stays beyond their delegated authority.

Three, falsely accept the rights and perform the duties of a representative of state ownership for the investment of state capital assets in an enterprise.

Four, falsely implement regulations on management and utilization of capital assets of the enterprise of which 100% charter capital is held by the State as well as management of state investments in joint-stock companies and multiple-member limited liability companies.

Five, monitor, examine and inspect the enterprise in violation of assigned tasks, duties or delegated powers, which must conform to legal regulations.

Six, provide information and report in incorrect, insufficient and untimely manner as prescribed in laws.

Seven, reveal and use illegal information that an enterprise or regulatory body provides.

View other relevant contents at the Law on management and utilization of state capital invested in the enterprise’s manufacturing and business activities 2014 of Vietnam, effective from July 01, 2015.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

35 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email [email protected]