Regulations on Concurrent Management Titles according to Circular 147

22:44, 10/07/2024

On September 21, 2016, the Ministry of National Defense issued Circular 147/2016/TT-BQP regulating the management of Persons holding titles, positions at enterprises that are one-member limited liability companies with 100% charter capital owned by the State and managed by the Ministry of National Defense and Persons representing state capital holding management titles at enterprises in which the State holds more than 50% charter capital owned by the Ministry of National Defense.

Circular 147/2016/TT-BQP has set forth some regulations regarding dual roles in management positions for Representatives as follows:

- Person appointed as the state capital representative

- Must not be an officer currently working at a budget unit under the Ministry of National Defense; if an officer working at a budget unit is appointed as the Representative, a decision on transfer or reassignment is required;- In special cases, if they retain their position at the budget unit under the Ministry of National Defense, approval by the Standing Committee of the Central Military Commission is required;

- Must not concurrently represent the state capital at another enterprise;- Must not delegate or authorize someone else to represent them in voting or deciding on matters that have been approved by the Ministry of National Defense.- The representative holding the position of Chairman of the Board of Directors may not concurrently serve as the General Director or Director of their own company.

- The representative holding the position of Chairman of the Members' Council in a limited liability company with two or more members may concurrently serve as the General Director or Director of their own company.

More details can be found in Circular 147/2016/TT-BQP which takes effect from November 05, 2016.

- Thanh Lam -

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