What are rights and obligations of the Sunflower Fund in Vietnam?

What are rights and obligations of the Sunflower Fund in Vietnam?

Pursuant to Article 6 of the Charter of the Sunflower Fund (amended and supplemented) issued together with the Decision 296/QD-BNV in 2022 stipulating rights and obligations of the Sunflower Fund in Vietnam as follows:

1. Organize and operate according to the Charter recognized by the Ministry of Home Affairs and relevant laws.

2. Funds operating in any field must be subject to the state management of the state management agency in charge of that industry or field.

3. Mobilize donations and sponsors for the Fund; receive property sponsored, donated or donated by domestic and foreign individuals and organizations or in other forms in accordance with the Foundation's principles and purposes and the provisions of law.

4. Make the donation strictly according to the authorization of the authorized individual or organization and the principles and purposes of the Fund.

5. Establish affiliated legal entities according to the provisions of law; organize activities in accordance with the law to preserve and grow the Fund's assets.

6. Store and be responsible for providing complete dossiers, vouchers and documents on assets and finance of the Fund; resolutions and minutes on the Fund's activities to competent state agencies in accordance with law.

7. Use assets and finance thriftily and effectively in accordance with the principles and purposes of the Fund; pay taxes, fees and charges and implement accounting, auditing and statistical regimes in accordance with law.

8. Have the right to lodge complaints and denunciations in accordance with law and to be subject to inspection, examination and supervision by state agencies, sponsoring organizations and individuals and the community in accordance with law. To settle complaints and denunciations within the Fund in accordance with the law, the Fund's Charter and report settlement results to competent state agencies.

9. Annually, the Fund must report on organizational, operational and financial situation to the Ministry of Home Affairs, the Ministry of Finance, the management agency in charge of the sectors and fields of operation of the Fund and the People's Committee of the province where the Fund is located. be located before December 31; The Foundation makes its contributions publicly available by March 31.

10. The Fund may have relationships with individuals and organizations to mobilize donations, mobilize funding for the Fund or for specific schemes and projects of the Fund in accordance with law.

11. Have relations with localities, organizations and individuals in need of assistance to develop projects, topics and funded projects according to the principles and purposes of the Fund's operation.

12. When changing the head office or Director of the Fund, the Fund must report in writing to the Ministry of Home Affairs.

13. Exercise other rights and perform other obligations as prescribed by law.

What are regulations on organizational structure of the Sunflower Fund in Vietnam?

Pursuant to Article 7 of the Charter of the Sunflower Fund (amended and supplemented) issued together with the Decision 296/QD-BNV in 2022 stipulating organizational structure of the Sunflower Fund in Vietnam as follows:

1. Fund Management Council.

2. Fund Control Board.

3. Director, Deputy Director of the Fund.

4. Offices, specialized departments and accounting departments, affiliated legal entities, branches or representative offices.

What are regulations on Board of Directors of the Sunflower Fund in Vietnam?

Pursuant to Article 8 of the Charter of the Sunflower Fund (amended and supplemented) issued together with the Decision 296/QD-BNV in 2022 stipulating Board of Directors of the Sunflower Fund in Vietnam as follows:

1. The Fund Management Council is the management agency of the Fund, acting on behalf of the Fund to decide and exercise the rights and obligations of the Fund. The Fund Management Board has at least 03 (three) members, of which the number of members of the Fund Management Council is at least 51% Vietnamese citizens nominated by the founder; in case there is no nomination by the founder of the Fund, the Fund Management Council of the previous term elects the Fund Management Board for the next term and is recognized by the Minister of Home Affairs. The term of the Fund Management Board is 05 (five) years. The Fund Management Board consists of: Chairman, Vice Chairman and members.

2. The Fund Management Council has the following duties and powers:

a) Decide on the development strategy and annual operation plan of the Fund;

b) Decide on solutions to develop the Fund; through contracts for borrowing, buying and selling properties and other transactions valued at 500,000,000 Vietnam dong (five hundred million Vietnamese dong) or more;

c) Elect, relieve from duty, remove from office the President, Vice President, members of the Fund Management Council; decide to establish the Fund Control Board; decide to appoint, relieve from duty, dismiss the Fund's Director or sign and terminate the contract with the Fund's Director in case the Director is a person hired by the Fund; decide on the person in charge of accounting work and other managers specified in the Fund's Charter;

d) Decide salary, bonus, regimes and policies for the President, Vice Chairman, members of the Management Council of the Fund, the Director, the person in charge of accounting of the Fund, and the people working at the Fund according to regulations. Fund Charter and regulations of law;

dd) Approve the annual financial report and the plan on using the Fund's assets and finances;

e) Decide the organizational structure to manage the Fund in accordance with the law and the Fund Charter;

g) Decide on the establishment of a legal entity under the Fund, the establishment of a branch or a representative office of the Fund in accordance with law;

h) Rename, amend and supplement the Fund Charter (if any);

i) Decide on dissolution or propose changes to the Establishment License and Fund Charter with the competent state agency;

k) Within 60 (sixty) days from the date of issuance of the Decision on recognition of the Charter (amended, supplemented), the Fund Management Council is responsible for reviewing, formulating and promulgating: regulations on management management and use of the Fund's assets, finances, revenue sources and spending norms; stipulating the work of reward, discipline and settlement of complaints and denunciations within the Fund; regulations on working time, the use of labor and the use of the Fund's seal; specifying the election, dismissal and dismissal of the President, Vice President, members of the Management Board and working regulations of the Fund Management Council and the Fund Control Board; specifying the appointment, dismissal, dismissal of the Director or termination of the labor contract for the Director of the Fund;

l) Other duties and powers as prescribed by law (if any).

3. Operational principles of the Fund Management Council:

a) The meeting of the Fund Management Council shall be convened and chaired by the Chairman of the Fund Management Council. The Fund Management Board meets once (one) three times a year, may hold an extraordinary meeting at the request of more than half (one-half) of the members of the Fund Management Council or at the request of the Fund Management Board. Chairman of the Fund Management Board. A meeting of the Fund Management Council is considered valid when more than 1/2 (one-half) of the members of the Fund Management Association participate. The convening of a meeting of the Fund Management Board must be notified to all members of the Fund Management Board within 05 (five) working days. work;

b) Each member of the Fund Management Council has one vote. In case the number of members present at the meeting is not sufficient, the chairperson of the meeting of the Fund Management Board shall ask for written opinions. members present at the meeting.

c) Between two meetings, the Fund Management Council may vote or decide on issues within the competence of the Fund Management Council through collecting written opinions of the members;

d) Decisions of the Board of Management of the Fund are approved when more than 1/2 (one-half) of the members of the Board of Management of the Fund vote in favor.

Best regards!