SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, November 21, 2005
AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE GOVERNMENT’S DECREE No. 63/2001/ND-CP OF SEPTEMBER 14, 2001, ON CONVERSION OF STATE ENTERPRISES, ENTERPRISES OF POLITICAL ORGANIZATIONS OR SOCIO-POLITICAL ORGANIZATIONS INTO ONE-MEMBER LIMITED LIABILITY COMPANIES
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the November 26, 2003 Law on State Enterprises;
Pursuant to the June 12, 1999 Enterprise Law;
At the proposal of the Minister of Planning and Investment,
Article 1.- To amend and supplement a number of articles of the Government’s Decree No. 63/2001/ND-CP of September 14, 2001, on conversion of state enterprises, enterprises of political organizations or socio-political organizations into one-member limited liability companies as follows:
1. To change the title of the Decree as follows:
The name of Decree No. 63/2001/ND-CP is amended into "Decree on conversion of state companies, enterprises of political organizations or socio-political organizations into one-member limited liability companies".
2. To amend words and phrases as follows:
All phrases "state enterprises" in Decree No. 63/2001/ND-CP are amended into "state companies".
3. To amend and supplement Article 1 as follows:
"Article 1.- Scope of regulation and objects of application
1. This Decree provides order and procedures for conversion of state companies; enterprises of political organizations or socio-political organizations; independent cost-accounting member companies of state corporations; dependent cost-accounting units and dependent units of state corporations or state companies shifting to operate after the parent company-subsidiary company model into one-member limited liability companies, and provides the organization and management of one-member limited liability companies.
2. State companies, independent cost-accounting member companies of state corporations, enterprises of political organizations or socio-political organizations, when converted into one-member limited liability companies, must be enterprises where the State or concerned political organizations or socio-political organizations decide to hold 100% of their charter capital.
3. Dependent cost-accounting units and dependent units of state corporations or state companies defined in Clause 1 of this Article shall be converted only when the companies are separated and the separated sections must all be those where the State needs to hold 100% of their charter capital."
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