CONGRESS THROUGH THE REVISED ENTERPRISE LAW
This morning 17.06.2020, with the majority of
voting vote, Congress adopted the Business Law (revised) with 10 chapters, 218
things, which are enforceable from 01.01.2021.
The law has many new regulations on business
activities, including regulations on State enterprises (DNNN). The law amended
the concept of DNNN according to the principle of dividing the types of
businesses with state ownership by varying degrees, each type of enterprise has
regulations on the appropriate governance organization to improve governance,
publicity, transparency and accountability, ensuring equality with enterprises
in other economic components.
We would like to quote some notable changes in
the Enterprise Law (revised) 2020 as below.
AMENDMENTS TO THE STATE ENTERPRISE REGULATIONS
ARE AS FOLLOWS:
The state-owned enterprise is administered in
the form of a limited liability company, a joint stock company, which includes:
A-The state-led enterprise holds 100% of the
Charter capital;
B-the state-based enterprise holds over 50% of
the Charter capital or the total number of voting shares.
A-state-led enterprise holds 100% of charter
capital including:
A) a member limited liability company held by
the State 100% of the Charter capital is the parent company of the state
economic group, the parent company of the State corporation, the parent company
in the parent company-subsidiary company;
b) The limited liability company a member is
an independent company held by the State 100% of the Charter capital.
B-the state-based enterprise holds over 50% of
charter capital or the total number of voting shares including:
A) two or more member limited liability
company, the state-owned corporation holds over 50% of the Charter capital, the
total number of voting shares being the parent company of the economic group,
the parent company of the State corporation, the parent company in the
parent-subsidiary group of Companies;
b) Two or more member limited liability
company, JSC is an independent company held by the state on 50% of charter
capital, the total number of shares with voting rights.
BUSINESS HOUSEHOLDS
Neglect of business households; Remove
regulations on business transformation into enterprises.
The Government will guide registration and
operations with respect to the business households, until the release of a
separate law on business households.
STAMP NOTIFICATION PROCEDURES
Do not specify the procedure to report a stamp
with the business Registration authority.
SELL INDIVIDUAL BONDS OF NON-PUBLIC COMPANIES
The subject of the purchase and transfer of
bonds is limited to the professional securities investor.
This regulation is necessary, in accordance
with the Law on common laws and practices.