Which Agency Represents the Owner of Enterprises with 100% State-Owned Charter Capital?

Representative of the owner of the enterprise in which the State holds 100% of the charter capital and the state capital portion in the enterprise established or managed by the Ministry of National Defense as determined by the agencies stipulated in Article 4 of Circular 157/2019/TT-BQP as follows:

Illustrative image (source: internet)

- The Ministry of National Defense is the representative agency of the owner for enterprises where the State holds 100% of the charter capital and the state capital portion invested in enterprises established or managed by the Ministry of National Defense according to the provisions of the Law on Management and Use of State Capital Invested in Production and Business Activities in Enterprises and other related laws.

- Specifically, the units under the Ministry of National Defense: General Staff, General Department, Military Region, Service, Specialty, Army Corps, Border Guard Command, Hanoi Capital Command perform the rights and responsibilities of the representative agency of the owner according to the delegation of the Ministry of National Defense as specified in Article 6 of this Circular.

- The Board of Members, Company Chairman is the direct representative of the owner at the enterprise where the State holds 100% of the charter capital, established or managed by the Ministry of National Defense.- The representative of the state capital portion is an individual authorized in writing by the Ministry of National Defense to exercise the rights and responsibilities of the state owner representative regarding the state capital portion invested in joint-stock companies, limited liability companies with two or more members.

Additionally, Circular 157 outlines the rights and responsibilities of the Ministry of National Defense in establishing and managing enterprises in which the State holds 100% of the charter capital and the state capital portion in enterprises as follows:

- Assisting the Government of Vietnam, the Prime Minister of Vietnam in performing the rights and responsibilities of the state owner representative concerning the Parent Company - Military Industry and Telecoms Group (Viettel) as stipulated in the Law on Management and Use of State Capital Invested in Production and Business Activities in Enterprises, Decree 10/2019/ND-CP, Decree 05/2018/ND-CP on the Charter of Organization and Operation of the Parent Company - Military Industry and Telecoms Group, and other related laws.- Responsible for reporting to the Government of Vietnam, the Prime Minister of Vietnam on the contents specified in Clause 2 Article 5 and Article 6 of Decree 10/2019/ND-CP.- Deciding and being responsible for exercising the rights and responsibilities of the representative agency of the owner as stipulated in Decree 10/2019/ND-CP and related laws concerning the objects specified in Clauses 2, 3, and 4 of Article 2 of this Circular.

Read the full regulations at Circular 157/2019/TT-BQP effective from December 01, 2019.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE