What is a Stock Exchange? Charter of the Vietnam Stock Exchange
Request for Information
Subject: Inquiry about the Vietnamese Stock ExchangeDear Sir/Madam,What is a stock exchange? According to the new legal regulations, what are the contents of the Charter of the Vietnam Stock Exchange? I hope you can provide assistance.Thank you.What is a Stock Exchange?
A stock exchange is a form of securities market organization that creates venues and facilities for the buying and selling of securities. It is a place where securities trading activities take place and an agency that maintains trading order, serving trades in the centralized securities market.
Charter of Vietnam Stock Exchange
Pursuant to Clause 2, Article 45 of the Securities Law 2019 (Effective from January 1, 2021), it is stipulated as follows:
- The Charter of Vietnam Stock Exchange is approved or promulgated, amended, and supplemented by the Minister of Finance based on the proposal of the Members' Council or the Board of Directors of Vietnam Stock Exchange and the opinion of the Chairman of the State Securities Commission.
- The Charter of Vietnam Stock Exchange includes the following main contents:
+ Name, address of the head office, subsidiaries, branches;
+ Objectives, scope of activities, and services provided;
+ Charter capital; methods of increasing, decreasing charter capital, or transferring capital;
+ Name, address, and basic information of founding shareholders or capital-contributing members or owners;
+ Capital contribution or number of shares and value of capital contribution of the founding shareholders or capital-contributing members or owners;
+ Legal representative;
+ Management organizational structure;
+ Rights and obligations of the Vietnam Stock Exchange;
+ Rights and obligations of capital-contributing members, owners, or shareholders;
+ Rights and obligations of the Members' Council or Board of Directors, General Director (Director), and Supervisory Board (Supervisors);
+ Procedures for passing resolutions of the Vietnam Stock Exchange;
+ Procedures for amending and supplementing the Charter;
+ Applicable accounting and auditing regimes;
+ Establishment of funds, mechanism for fund usage; principles of profit usage, loss handling, and other financial policies;
+ Principles for resolving internal disputes.
Above are the contents of the Charter of Vietnam Stock Exchange.
Sincerely!
