What are regulations on adjustment of EVN's charter capital in Vietnam?

What are regulations on adjustment of EVN's charter capital in Vietnam?

Pursuant to Article 70 of Decree 26/2018/ND-CP stipulating the adjustment of charter capital as follows:

1. The charter capital of EVN stated in Article 5 of this Charter is the capital invested by the State in EVN until the end of 2018.

2. The adjustment to increase charter capital of EVN shall be decided by the Prime Minister. Sources for supplementing EVN's charter capital shall comply with the provisions of the Financial Management Regulations of EVN promulgated together with the Government's Decree.

3. In case of increasing charter capital, EVN must make timely adjustments in the balance sheet, announce charter capital and carry out procedures for adjusting charter capital in this Charter.

4. Owners may only withdraw capital invested in EVN through the transfer of all or part of EVN's capital to other organizations and individuals.

5. The owner is responsible for investing enough capital according to the committed time limit.

What are regulations on management of capital, assets, revenue, expenses, cost and profit distribution of EVN in Vietnam?

Pursuant to Article 71 of Decree 26/2018/ND-CP stipulating management of capital, assets, revenue, expenses, cost and profit distribution of EVN in Vietnam as follows:

The management of capital, assets, revenue, expenses, costs and profit distribution of EVN is carried out in accordance with the Decree on financial management regulations of EVN and relevant laws.

What are regulations on EVN's financial, accounting, auditing and statistical plans in Vietnam?

Pursuant to Article 72 of Decree 26/2018/ND-CP stipulating EVN's financial, accounting, auditing and statistical plans in Vietnam as follows:

1. EVN's fiscal year begins on January 1 and ends on December 31 of each calendar year.

2. The General Director of EVN submits to the Board of Members of EVN for approval the business plan, investment plan and financial plan of the next year of EVN, ensuring the time that EVN submits the financial plan to the Ministry of Finance and the Ministry of Industry and Trade as prescribed. The Members' Council is responsible for reporting to competent authorities on the annual business plans, investment plans and financial plans of EVN as a basis for monitoring and evaluating the results of business activities of the Members' Council, EVN's General Director.

3. Subsidiaries with 100% charter capital held by EVN must prepare and submit financial statements to EVN and take responsibility for the truthfulness and legality of EVN's figure financial statement data.

4. The General Director of EVN must submit to the Members' Council for approval the annual financial statements of EVN and the consolidated financial statements of the National Electricity of Vietnam have been audited and are responsible for the financial statements in accordance with the law.

5. The EVN Member Council approves the annual financial statements of EVN and the audited consolidated financial statements of the National Electricity of Vietnam, the distribution of profits, the appropriation and use of the funds of the EVN after being approved by the Ministry of Industry and Trade.

6. EVN Member Council approves annual financial statements of affiliated units and subsidiaries in which 100% of the charter capital is held by EVN in accordance with law, on the basis of documents and numbers has been performed by an independent audit agency.

7. EVN conducts financial disclosure in accordance with grassroots democratic regulations and the provisions of law.

8. EVN's Members' Council shall report to the owner in accordance with law.

9. EVN must perform accounting and statistical work in accordance with law.

10. EVN must apply the annual independent audit regime as prescribed by law.

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