Implementation Time for the Transfer of State-Owned Capital Representation Rights at Enterprises

To be specific:, according to Article 7 of Circular 83/2018/TT-BTC, Ministries, and People's Committees at the provincial level are responsible for transferring the state ownership representative rights at enterprises to SCIC within the following timeframes:

- For economic corporations, state-owned general companies, and other cases as stipulated in Clause 5, Article 3 of Circular 83/2018/TT-BTC: transfer shall be conducted according to the timeline stated in the decision or document by the Prime Minister of the Government of Vietnam or within 30 working days from the date of the approval document by the Prime Minister of the Government of Vietnam.

- For joint-stock companies converted from one-member limited liability companies wholly owned by the State as stipulated in Clause 4, Article 3 of Circular 83/2018/TT-BTC: transfer shall be conducted within 30 working days from the date Ministries, and People's Committees at the provincial level must complete the disclosure of the actual value of the state capital at the time the joint-stock company is issued the first Enterprise Registration Certificate according to the regulations on converting state-owned enterprises and one-member limited liability companies invested 100% by state-owned enterprises into joint-stock companies.

- For other enterprises subject to transfer as stipulated in Article 3 of Circular 83/2018/TT-BTC: transfer shall be conducted within 30 working days from the effective date of Decree 147/2017/ND-CP or within 30 working days from the date the enterprise is issued the first Enterprise Registration Certificate.

- Within the transfer timeline stated in Clause 1, Clause 2, Article 7 of Circular 83/2018/TT-BTC, if Ministries and People's Committees at the provincial level have not issued a decision disclosing the actual value of the state capital at the time the joint-stock company is issued the first Enterprise Registration Certificate, the transfer of state capital value shall be conducted according to the value approved in the equitization plan or the decision to adjust the scale, capital structure of the equitized company.

After transferring the state ownership representative rights, Ministries, People's Committees at the provincial level shall lead, cooperate with SCIC and enterprises to handle the financial issues of the enterprise, finalize, disclose the actual value of the state capital at the time the joint-stock company is issued the first Enterprise Registration Certificate according to the regulations on converting state-owned enterprises and one-member limited liability companies invested 100% by state-owned enterprises into joint-stock companies and adjust the value of transferred state capital (if any).

See more details at: Circular 83/2018/TT-BTC effective October 15, 2018.

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