THE MINISTRY OF FINANCE
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Hanoi, December 6, 2007
REGULATIONS ON SELECTION AND SUPERVISION OF VALUATION CONSULTANCY ORGANIZATIONS
THE MINISTER OF FINANCE
Pursuant to Decree 109/2007/ND-CP of the Government dated 26 June 2007 on conversion of enterprises with 100% State owned capital into shareholding companies;
Pursuant to Decree 101/2005/ND-CP of the Government dated 3 August 2005 on price appraisal;
Pursuant to Decree 77/2003/ND-CP of the Government dated 1 July 2003 on functions, duties, powers and organizational structure of the Ministry of Finance;
On the proposal of the Director of the Department of Finance for Banks and Finance Institutions;
Article 1. To issue with this Decision the Regulations on selection and supervision of valuation consultancy organizations.
Article 2. This Decision shall be of full force and effect after fifteen (15) days from the date of its publication in the Official Gazette.
Article 3. The Director of the Department of Finance for Banks and Finance Institutions, the Director of the Enterprise Finance Division, the Head of the Office of the Ministry, heads of relevant entities and directors of valuation consultancy organizations shall be responsible for implementation of this Decision.
FOR THE MINISTER OF FINANCE
Tran Xuan Ha
ON SELECTION AND SUPERVISION OF VALUATION CONSULTANCY ORGANIZATIONS
(Issued with Decision 100-2007-QD-BTC of the Minister of Finance dated 6 December 2007)
I. GENERAL PROVISIONS
Article 1. These Regulations apply to organizations providing enterprise valuation services (hereinafter abbreviated to valuers1) for enterprises with 100% State owned capital on the latters' conversion into shareholding companies.
Other enterprises requesting enterprise valuations may select valuers in accordance with these Regulations.
Article 2. Valuer means an organization which satisfies all the standards and conditions and which is licensed [or which has permission] to provide enterprise valuation services, and shall include auditing companies, securities companies, price appraisal enterprises, and domestic and foreign investment banks with the capability to provide enterprise valuations and which are selected to provide such services in accordance with these Regulations.
Article 3. The Ministry of Finance shall be responsible to select and promulgate a list of valuation consultancy organizations, and to conduct checks and inspections of the operations of such valuers.
II. STANDARDS AND CONDITIONS FOR SELECTION OF VALUERS
Article 4. Any domestic organization registering to provide enterprise valuation services must satisfy all the following standards and conditions:
1. It is an entity as defined in article 2 of these Regulations and satisfies all the conditions on organization and operation applicable to each form of enterprise.
2. It has professional rules on enterprise valuation which are consistent with the current regulations of the Government on conversion of enterprises with 100% State owned capital into shareholding companies.
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