Equitization of Enterprises: Retain No More Than 05 Military Personnel as State Capital Representatives

22:34, 09/07/2024

This is a regulation stated in Circular 155/2019/TT-BQP issued by the Ministry of National Defense providing guidance on transforming state-owned enterprises and one-member limited liability companies with 100% charter capital invested by state-owned enterprises under the Ministry of National Defense into joint-stock companies.

Joint-Stock Company Retains a Maximum of 05 Military Personnel Representing State Capital in the Company, Circular 155/2019/TT-BQP

Illustrative Image (source: Internet)

Pursuant to Article 11 of Circular 155/2019/TT-BQP, when converting a state enterprise and a single-member limited liability company with 100% state-owned capital invested by the Ministry of National Defense into a joint-stock company, based on the scale of state capital, the joint-stock company undergoing equitization shall retain no more than 05 military personnel representing the state capital in the enterprise.

Therefore, when transitioning into a joint-stock company, all equitized enterprises must limit the state capital representative military personnel in the company, specifically to 05 individuals or fewer.

Additionally, the resolution of policies for officers, professional soldiers, civilian defense workers, public employees, and laborers is implemented according to the provisions in Circular 139/2018/TT-BQP dated August 30, 2018, by the Ministry of National Defense. This Circular guides the utilization and implementation of certain policies for those working in Military enterprises undergoing equitization or dissolution, bankruptcy; joint-stock companies divesting state capital, and joint-stock companies with state-contributed capital managed by the Ministry of National Defense and relevant legal regulations.

Refer to the full text of Circular 155/2019/TT-BQP effective from December 01, 2019.

Thu Ba

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