TO SUPPLEMENT CONDITIONS FOR EQUITIZING ENTERPRISES WITH 100% STATE OWNED CHARTER CAPITAL
The Government issues the Decree No. 140/2020/ND-CP on amending and supplementing a number of articles of the Decree No. 126/2017/ND-CP dated November 16, 2017 of the Government on transformation of state enterprises and single member limited liability companies with 100% state enterprise-invested charter capital into joint stock companies; the Decree No. 91/2015/ND-CP dated October 13, 2015 of the Government on investment of state capital in enterprises and management and use of capital and assets at enterprises and the Decree No. 32/2018/ND-CP dated March 08, 2018 of the Government on amending and supplementing a number of articles of the Decree No. 91/2015/ND-CP on November 30, 2020.
Accordingly, conditions for equitizing are supplemented as follows: For enterprises subject to the reorganization and handling of real estate in accordance with the law on management and use of public property, there must be plan for reorganizing and handling house and land under the scope of reorganization and handling of houses and land approved by the competent authorities in accordance with the law on management and use of public property.
In addition, when transferring capital by transferring stocks on the securities market, the time limit for the Stock Exchange to disclose information on trading shares of the enterprise’s capital transfer to investors is at least 20 days before the date of capital transfer.
Besides, before June 30, 2021, based on regulations on determination of charter capital and additional investment in capital for enterprises with 100% state owned charter capital that are operating, enterprises with 100% state owned charter capital shall make a plan to determine the charter capital and additional investment capital sources to report to the owner representing agencies for submission to the Prime Minister to consider, decide and organize the implementation of additional investment in capital and adjust the charter capital as prescribed.
This Decree takes effect on November 30, 2020.
