Standards for titles of leaders and managers of lottery business in Vietnam

Standards for leadership positions in lottery business management (Image from the internet)

Regarding this issue, LawNet would like to answer as follows:

1. Conditions and standards for titles of leaders and managers in Vietnam

Conditions and standards for titles of leaders and managers of lottery companies, Vietnam computing lottery one-member limited liability company are provided by owners and inscribed in their charters of organization and operation but must meet the following basic conditions:

(1) For chairmen of companies, General Directors or Directors:

- Being Vietnamese citizens, permanently residing in Vietnam;

- Having fully civil act capability as prescribed by law;

- Educated from university level or higher specialized in economy, finance, banking, economic law, business administration;

- Having actual experiences in managing activities of enterprises;

- Not being subjects banned from holding positions of managing and executing enterprises as prescribed at points b, c, dd, e and g clause 2 Article 13 of Law on enterprises;

- Standards on healthy, morality, and other standards specified in charter of lottery companies that are approved by owners.

(2) For controllers:

- Being Vietnamese citizens, permanently residing in Vietnam;

- Having fully civil act capability as prescribed by law;

- Having specialized qualification or professional experiences on accounting, audit or specialized qualification and actual experiences in lottery business operation of lottery companies or other standards, conditions specified in charter of lottery companies;

- Having actual experiences in managing activities of enterprises;

- Not having spouses, biological father or mother, adoptive father or mother, children, adopted children, biological sisters or brothers holding positions of General Directors, Directors, Chiefs accountant, controllers, cashiers at lottery companies.

- Not being concerned persons of members of Members' Council, chairmen of companies,General Directors or Directors, persons competent to direct appoint the controllers;

- Standards on healthy, morality, and other standards specified in charter of lottery companies that are approved by owners.

(Article 37 of Circular 75/2013/TT-BTC)

2. Dossiers applying for grant of Certificate of eligibility for lottery business in Vietnam

Dossier applying for grant of Certificate of eligibility for lottery business includes:

- Written request for grant of Certificate of business eligibility of lottery company, in which clearly states types of product requesting for being permitted to business;

- Opinions of owner about grant of Certificate of business eligibility;

- Plan on organizing business operation of lottery company;

- Decision on establishment of enterprise (authenticated copy);

- Enterprise registration certificate (authenticated copy);

- Operational charter of lottery companies that are approved by owners (copy);

- The audited financial statement of lottery company in the last year.

(Article 39 of Circular 75/2013/TT-BTC)

3. Cases of withdrawal of Certificate of eligibility for lottery business in Vietnam

Lottery companies, Vietnam computing lottery one-member limited liability company may be withdrawn Certificate of eligibility for lottery business in the following cases:

- Being dissolved or bankrupted as prescribed by law;

- Implementing division, separation, consolidation or merger so as not be able to implement the lottery business operation or being withdrawn Certificate of Business registration;

- Conducting violations in lottery business operation and being sanctioned by withdrawal of certificate of eligibility for lottery business as prescribed by law on handling administrative violations in field of lottery business.

The Ministry of Finance shall publicize decisions on withdrawal of Certificate of eligibility for lottery business on means of mass media.

(Article 41 of Circular 75/2013/TT-BTC)

Ho Quoc Tuan

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