What Are the Requirements for a Business Representative Holding Over 50% of BQP's Capital?

According to the provisions of Article 12 Circular 178/2019/TT-BQP, the representative of state capital, holding management positions in enterprises where the State holds more than 50% of the charter capital, owned by the Ministry of National Defense (abbreviated as Representative) must meet the following standards and conditions:

Illustration (source: internet)

- Meets the standards and conditions according to the provisions of the Law on Officers; Regulation 842-QD/QU dated August 06, 2018, of the Central Military Commission on the standards for titles, evaluation criteria, and classification of personnel in the Vietnam People's Army and the provisions of Articles 65, 151, 152, 157 of the Enterprise Law; Article 18 of Decree 106/2015/ND-CP dated October 23, 2015, of the Government of Vietnam on managing representatives of state capital holding management positions in enterprises where the State holds more than 50% of the charter capital.- Has a personal dossier verified by the competent authority, and an asset declaration according to anti-corruption laws.- Within the age limit for appointment as a representative according to regulations, specifically:- The representative appointed must be of sufficient age (calculated by month) to serve for a complete term as per the management position's regulations, except in cases where the representative is dismissed from one enterprise due to work needs and reassigned to another enterprise with the same owner.- If a representative, one year from the date of being evaluated as not completing tasks by the owner or from the effective date of a disciplinary decision or dismissal, continues to be considered for appointment, apart from age requirements, they must meet all standards and conditions specified in this Article.- Healthy enough to fulfill assigned tasks.- Not under any discipline of reprimand or higher, investigation, prosecution, or trial.- Not in cases prohibited from assuming positions as prescribed by law.

Including, representatives are:

- Chairman of the Board of Directors;- Chairman of the Members' Council;- Member of the Board of Directors, Member of the Members' Council;- General Director;- Deputy General Director;- Director;- Deputy Director.

More details can be found in: Circular 178/2019/TT-BQP, effective from January 15, 2020.

Thu Ba

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