What are the fine levels for act of violations of the regulations on public bids in Vietnam?

What are the fine levels for act of violations of the regulations on public bids in Vietnam? (Internet image)

Clause 1, Article 13 of Decree 108/2013/ND-CP stipulates ta fine of between VND 100,000,000 and 150,000,000 for any of the following violations of the regulations on public bids in Vietnam as follows:

• Directly or indirectly purchasing or pledging to purchase stocks, right to buy shares and convertible bonds of target companies or fund certificates of target investment funds, right to buy fund certificate of target investment funds currently bid for outside a bidding;

• Selling or pledging to sell stocks, fund certificates they are bidding for public purchase;

• Unfairly treating owners of the same type of stocks, right to buy shares and convertible bonds, or opened fund certificates currently bid;

• Providing information only to a certain number of shareholders or investors, or providing information to different shareholders or investors at different extents and different points of time;

• Conducting the public bid inconsistently with the prescribed duration or duration already registered with the State Securities Commission;

• Refusing to purchase stocks from any shareholders of target companies or fund certificates of investors of target investment funds during the public bid;

• Purchasing stocks of target companies or fund certificates of target investment funds under terms different from those stated in the public bid registration;

• Failing to conduct or conduct the further purchase of the remaining stocks or closed fund certificates after the public bid in contravention of  regulation on duration or conduct with conditions on prices and payment method which are not similar to those in public bid;

• Failing to conduct reports, disclosure of information about public bid or conduct reports and disclosure of information about public bid in contravention of law.

More details can be found in Decree 108/2013/ND-CP, which comes into force from November 15, 2013.

Ty Na

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