This is a noteworthy content in the Draft Enterprise Law 2020 which is currently being reviewed, revised, and completed to be submitted to the National Assembly for consideration and approval at the 9th session (May 2020).
Article table of contents
From 2021, enterprises do not need to notify seal sample procedures (Illustration)
The draft Enterprise Law 2020 this time has removed the procedure for notifying seal samples with the business registration agency. Enterprises can use electronic signatures instead of seals. Specifically, Article 44 of the third draft Enterprise Law 2020 provides for the seal of the enterprise as follows:
Article 44. Seal of the enterprise
1. Enterprises have the right to decide whether or not to have a seal; to decide on the quantity, form, and content of the seal of the enterprise, the seal of branches, representative offices, and other units of the enterprise. The management, use, and storage of the seal shall comply with the provisions of the company's charter or the regulations issued by the company and other units of the enterprise.
Currently, the Enterprise Law 2014 requires enterprises to have a seal, and the form, quantity, and content of the seal are decided by the enterprise. Specifically, Article 44 of the Enterprise Law 2014 provides as follows:
Article 44. Seal of the enterprise
1. Enterprises have the right to decide on the form, quantity, and content of the seal of the enterprise. The content of the seal must display the following information:
a) Name of the enterprise;
b) Enterprise code.
2. Before using, enterprises are obliged to notify the seal sample to the business registration agency for public posting on the National Business Registration Portal.
3. The management, use, and storage of the seal shall comply with the provisions of the company's charter.
4. The seal shall be used in accordance with the provisions of law or as agreed upon by the parties in the transaction.
5. The Government of Vietnam provides detailed regulations on this Article.
Thus, it can be seen that, compared to the Enterprise Law 2014, the draft Enterprise Law 2020 has empowered enterprises to decide whether or not to have a seal while removing the requirement for enterprises to notify the business registration agency of the seal sample, aiming to reduce administrative procedures.
Le Hai
