What are regulations on disclosure of information of small and medium enterprise development fund in Vietnam?

Pursuant to Article 56 of the Decree 39/2019/NĐ-CP (takes effect from 01/7/2019) stipulating regulations on disclosure of information of small and medium enterprise development fund in Vietnam as follows:

1. The Fund must periodically disclose the following information to the public:

a) Fund’s basic particulars;

b) General objectives, specific goals and targets included in the annual business plan;

c) Annual financial status report and executive summary which have already been audited;

d) Assessment report on results of implementation of the annual operational plan;

dd) Report on actual state of management and organizational structure of the Fund.

2. The Fund must publicize information about abnormalities on its website, printed publications (if any) and post up the public notice of such information within 36 hours since one of the events mentioned below happens:

a) The Fund's bank accounts frozen or resumed after being frozen;

b) Temporary suspension of part or all of the Fund's operations;

c) Change of managers, including commissioners of Members’ Board, Chairperson of the Members’ Board, Comptroller, Director or Deputy Directors;

d) Obtaining the decision on disciplinary actions, initiating legal proceedings, having the Court’s verdict or judgment against the Fund’s manager;

dd) Obtaining conclusions from the inspection or tax authorities regarding the Fund's violations against law;

e) Receiving the decision on replacement of independent auditing organization or being met with refusal to audit financial statements.

3. The Fund’s legal representative or authorized persons shall publicize information and bear responsibility for adequacy, accuracy, authenticity and timeliness of information to be disclosed.

Above are regulations on disclosure of information of small and medium enterprise development fund in Vietnam.

Best regards!