What are the cases where the general meeting of capital contributing partners of private schools in Vietnam is considered valid?

What are the cases where the general meeting of capital contributing partners of private schools in Vietnam is considered valid? (Internet image)

Article 7 of Circular 13/2011/TT-BGDDT stipulates the general meeting of capital contributing partners of private schools in Vietnam as follows:

1. The General meeting of capital contributing partners (hereinafter referred to as the General meeting of contributing partners) consists of all contributing partners having voting right. The voting right of each contributing partner is in proportion to their stakes as prescribed in the Regulation on organization and operation of the school.

2. The General meeting of contributing partners has the following rights and obligations:

- Determine the school’s development objectives and orientation.

- Elect and dismiss members of the Board of Directors and Controllers; deal with irregular request for addition or replacement of members of the Board of Directors in the term of office, and request the competent agency to make a decision on recognition.

- Rarify the Regulation on organization and operation and annual financial statements of the school.

- Exercise other rights and fulfill other obligations as prescribed in the Regulation on organization and operation of the school.

- Ratify internal regulations of the school on criteria for selection of Board of Directors, the Control Board and the Principal.

3. An annual general meeting shall be held once per year and extraordinary general meetings may be held as decided by the Board of Directors. A General meeting of contributing partners shall be chaired by the Chairperson of the Board of Directors and it is shall be considered valid when it is attended by a number of contributing partners represent at least 51% of votes.

In case the Board of Directors commits serious violations against the Regulation on organization and operation of the school, the Control Board may convene an extraordinary general meeting and notify the Board of Directors.

4. The general meeting must be recorded in writing and ratified, and the meeting minutes must be signed by the chairperson and the secretary of the meeting. Each resolution of the meeting must be ratified in the form of voting or by secret ballot and it may only take effect when it is approved by at least 51% of votes of attending contributing partners.

More details can be found in Circular 13/2011/TT-BGDDT, which comes into force from May 15, 2011.

Thuy Tram

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