DECREE

ELABORATION OF SOME ARTICLES OF THE LAW ON ENTERPRISES

Pursuant to the Law on Government Organization dated June 19, 2015 and the Law dated November 22, 2019 on amendments to the Law on Government Organization;

Pursuant to the Law on Enterprises dated June 17, 2020;

Pursuant to the Law on Management and Use of State Capital Invested in Business Operation at Enterprises dated November 26, 2014;

Pursuant to the Law on Information Technology dated June 29, 2006;

At the request of the Minister of Planning and Investment;

The Government Promulgates a Decree on elaboration of some Articles of the Law on Enterprises.

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GENERAL PROVISIONS

Article 1. Scope and regulated entities

1. This Decree elaborates some Articles of the Law on Enterprises on social enterprises, state-owned enterprises, groups of companies, defense and security enterprises and disclosure of information of state-owned enterprises.

2. This Decree applies to the enterprises, organizations and individuals specified in Article 2 of the Law on Enterprises.

Article 2. Definitions

For the purpose of his Decree, the terms below are construed as follows:

1. “social enterprise” means an enterprise that satisfies the criteria specified in Clause 1 Article 10 of the Law on Enterprises.

2. “defense and security enterprise” means a state-owned enterprise that directly serves defense and security or combines business operation with defense and security as prescribed in Clause 5 Article 217 of the Law on Enterprises and satisfies the conditions specified in Article 13 of this Decree.

3. “group of companies” means a group of companies that are related to one another by ownership of shares/stakes or other forms of association.

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5. “National State-owned Enterprise Database” means the collection of data about basic information of state-owned enterprise and is developed, updated, managed and operated on www.business.gov.vn in order to provide information about state-owned enterprise and serve social interests.

6. “person authorized to disclose information” means an individual who is authorized by the enterprise to disclose information; has the power to append signatures and seals according to the enterprise’s rules and regulations.

Chapter II

SOCIAL ENTERPRISES

Article 3. Responsibility of social enterprises and owners of sole proprietorships, members, shareholders of social enterprises

1. Social enterprises shall maintain pursue of social and environmental objectives, retained earnings for re-investment and other contents in the commitment to pursue social and environmental objectives throughout their operation. Unless the social and environmental objectives are terminated ahead of schedule, the social enterprise shall return all incentives, aids and sponsorships it received to pursue social and environmental objectives if it fails to fulfill the commitment to pursue social and environmental objectives and maintain retained earnings for re-investment.

2. Owners of sole proprietorships, general partners of partnerships, members of limited liability companies and related entities that are shareholders of joint stock companies, members of the Board of Directors, the Director/General Director holding office or within a specific period of time shall be jointly responsible for the damage caused by the social enterprise’s violations as prescribed in Clause 1 of this Article.

Article 4. Receipt of aids and sponsorships

1. Social enterprises may receive foreign non-governmental aids to pursue their social and environmental objectives in accordance with regulations of law on receiving foreign non-governmental aids.

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a) The enterprise shall prepare a document about receipt of sponsorship which specifies: information about the sponsors, types of property, value of property or money, time of sponsorship; requirements to be satisfied by the recipient; full name and signature of the sponsor’s representative (if any).

b) Within 10 working days from the receipt of the sponsorship, the enterprise shall send a notification to the authority in charge of management of aids and sponsorships affiliated to the People’s Committee of the province where the enterprise is headquartered. The notification shall be enclosed with a copy of the document about receipt of sponsorship.

Article 5. Conversion of social protection establishments, social funds and charitable funds into social enterprises

1. A social protection establishment, social fund or charitable fund may use all of its property, rights and obligations for conversion into a social enterprise after obtaining the written approval from the authority that issued the license for establishment.

2. After conversion, the social enterprise shall inherit all lawful rights, interests, debts (including tax debts), employment contracts and other obligations of the social protection establishment, social fund or charitable fund. The social protection establishment, social fund or charitable fund is shut down from the day on which the social enterprise is granted the Certificate of Enterprise Registration.

3. Documentation and procedures for conversion from social protection establishments, social funds and charitable funds into social enterprises shall comply with the Law on Enterprises and regulations of the Government on enterprise registration.

Article 6. Full division, partial division, consolidation, merger, dissolution of social enterprises

1. Social enterprises shall be fully divided, partially divided; consolidated, merged with other social enterprises or other enterprises as prescribed by corresponding regulations of the Law on Enterprises.

2. In case of premature termination of social and environmental objectives and dissolution of a social enterprise, the remaining assets or finance received by the social enterprise shall be returned to the providers, transferred to other social enterprises or organizations with similar social objectives or transferred to the State as prescribed by the Civil Code.

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Chapter III

STATE-OWNED ENTERPRISES AND GROUPS OF COMPANIES

Article 7. State-owned enterprises and determination of ratio of charter capital or total voting shares held by the State in enterprises

1. The parent company prescribed in Point a Clause 2 and Point a Clause 3 Article 88 of the Law on Enterprises must not be a subsidiary company in a another business group, corporation or group of parent company - subsidiary companies.

2. The ratio of charter capital or total voting shares held by the State in an enterprise means the total ratio of charter capital or voting shares held by the state ownership representative bodies in that enterprise.

3. An independent company mentioned in Article 88 of the Law on Enterprises is a joint stock company or limited liability company whose charter capital or total voting shares are held by the State and does not belong to any group of parent company - subsidiary companies

Article 8. Board of Controllers, Controllers at wholly state-owned enterprises

1. The state ownership representative body shall establish a dedicated unit or assign a unit or individual in the state ownership representative body to monitor, assess, perform the tasks relevant to the operation, management, benefits of the Board of Controllers and Controllers.

2. Salaries, remunerations, bonuses, working conditions, costs of business trip and other operating costs of the Board of Controllers and Controllers shall be decided by the state ownership representative body, at least equal to those of the Board of Members or Deputy General Director/Deputy Director of the enterprise; will be included in the enterprise’s business costs and presented in a separate section in the enterprise’s annual financial statement.

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The Board of Controllers and Controllers at an enterprise 100% charter capital of which is held by the State (hereinafter referred to as “wholly state-owned enterprise”) shall fulfill the obligations in Article 104 and the following regulations:

1. Prepare the annual work plan and submit it to the state ownership representative body for approval and promulgation within the first quarter; implement the approved work plan.

In the cases where unscheduled inspects are necessary for early detection of errors of the enterprise, the Board of Controllers and the Controllers shall proactively take actions and report to the state ownership representative body.

2. Supervise the execution of major investment projects whose value exceeds 30% of equity or capital of Group B projects according to the Law on Public Investment, contracts, sales, purchases, business transactions whose value exceeds 10% of equity or at the request of the state ownership representative body; unusual business transactions of the company.

Article 10. Operating regulations of the Board of Controllers and Controllers

1. The state ownership representative bodies of wholly state-owned enterprises prescribed in Point a Clause 1 Article 88 of the Law on Enterprises shall promulgate operating regulations of the Board of Controllers and Controllers.

2. The Board of Members of multiple-member limited liability companies that are state-owned enterprises and subsidiary companies of state-owned enterprises prescribed in Clause 1 Article 88 of the Law on Enterprises shall promulgate operating regulations of the Board of Controllers and Controllers at the enterprises.

3. The Board of Members, Presidents of parent companies that are state-owned enterprises shall promulgate operating regulations of the Board of Controllers and Controllers of the single-member limited liability companies that are wholly owned by the parent companies.

4. Operating regulations of the Board of Controllers and Controllers shall include:

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b) The mechanism form cooperation; rights, obligations and responsibilities of the enterprise and its executives to operation of the Board of Controllers and the Controllers;

c) The mechanism for cooperation, reporting, seeking opinions between the state ownership representative body, the Board of Controllers and the Controllers regarding their rights and duties;

d) The mechanism for cooperation between the Board of Controllers, the Controllers, the enterprise’s executives, the representative of the direct owner, the representative of state capital in the enterprise, the representative of the enterprise’s capital in other enterprises in performance of rights and obligations of the Board of Controllers and the Controllers to the enterprise, the subsidiary companies, the subsidiary companies with stakes or associate companies of the enterprise.

dd) Scope, contents of rights, obligations and duties of the Board of Controllers and the Controllers;

e) Salaries, remunerations, bonuses, working conditions, costs of business trip and other operating costs of the Board of Controllers and the Controllers;

g) Other contents decided by the state ownership representative body.

Article 11. Super-voting shares

1. The charter of the joint stock company shall specify the time and total number of votes or the number of votes of each super-voting share.

2. The organizations authorized by the Government as prescribed in Clause 1 Article 116 of the Law on Enterprises are the state ownership representative bodies and shall perform the state’s rights and obligations to the super-voting shares.

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Article 12. Cross ownership between companies in a group of companies

1. Contribution of capital, purchase of shares of other enterprises or for establishment of a new enterprise as prescribed in Clause 3 Article 195 of the Law on Enterprises include:

a) Joint contribution of capital to establish a new enterprise.

b) Joint purchase of stakes/shares of existing enterprises.

2. An enterprise within at least 65% state capital mentioned in Clause 3 Article 195 of the Law on Enterprises is a state-owned enterprise at least 65% of charter capital or voting shares of which are held by the State.

3. The president of the company, the Board of Members, the Board of Directors shall be responsible for ensuring conformity with Article 195 of the Law on Enterprises when proposing, deciding capital contribution, purchase of shares/stakes of other companies, and jointly responsible for paying compensation for the damage incurred by the company due to the violations against this Clause.

4. The business registration authority shall reject registration of change of the company’s members/shareholders if violations against Clause 2 and Clause 3 Article 195 of the Law on Enterprises are found while processing the application.

Chapter IV

DEFENSE AND SECURITY ENTERPRISES

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An enterprise will be identified as a defense and security enterprise in the following cases:

1. All of the following conditions are satisfied:

a) The enterprise is a single-member limited liability company in which state ownership is represented by the Ministry of National Defense or the Ministry of Public Security.

b) The enterprise’s sector and location is included in the List of sectors and areas directly serving defense and security in Appendix 1 of this Decree.

c) The enterprise is assigned by the Ministry of National Defense or the Ministry of Public Security to produce, supply defense and security-related products and services or perform defense and security tasks using resources of the State of the enterprise that are suitable for the objectives of the enterprise.

2. Other cases decided by the Prime Minister to meet defense and security requirements at the time.

Article 14. Rights and obligations of defense and security enterprises

Defense and security enterprises have the rights and obligations prescribed in Article 9 of the Law on Enterprises and the following regulations:

1. Defense and security enterprise shall be provided by the Ministry of National Defense or the Ministry of Public Security with adequate resources and charter capital to perform assigned defense and security tasks.

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a) These activities are approved in writing by the Ministry of National Defense or the Ministry of Public Security;

b) These business activities are meant to support defense and security tasks or improve efficiency of property after the assigned defense and security tasks have been fulfilled;

c) These activities do not cause reduction in capacity or affect the performance of assigned defense and security tasks;

d) Taxes are fully paid as prescribed by law.

3. Manage the use of provided resources for performance of defense and security tasks in accordance with applicable regulations on the management and use of state property in the people’s armed forces and relevant laws.

4. Comply with decisions of the Ministry of National Defense or the Ministry of Public Security on transfer of capital or assets serving performance of defense and security tasks of the enterprise to other enterprises for performance of defense and security tasks where necessary. In this case, the Ministry of National Defense or the Ministry of Public Security shall be responsible for the debts and other liabilities of the enterprise.

5. Changes or addition of business lines are subject to approval by the Ministry of National Defense or the Ministry of Public Security.

6. Comply with regulations of law on international cooperation and regulations of the Ministry of National Defense or the Ministry of Public Security during association with foreign organizations and individuals in performance of defense and security tasks.

Article 15. Organizational structure and managerial positions of defense and security enterprises

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Article 16. Benefits of defense and security enterprises and employees thereof

1. A defense and security enterprise shall be entitled to:

a) Exemption, reduction of land rents, land levy and tax on use of land assigned for performance of defense and security tasks according to the Law on Land and its guiding documents;

b) Have the following costs covered by the State: military equipment for commissioned officers, career military personnel, defense workers, non-commissioned officers, police workers; drills, combat training; payment for defense and security works. In case state budget cannot fully cover these costs, they may be recorded as operating costs of the enterprise, which can be deducted during assessment and ranking of enterprises according to regulations of the Government;

b) Be provided with funding by the State for maintenance, repair, operation of production lines serving defense and security in case of production suspension without being able to cover the costs;

b) Be provided with 02 reward and benefit funds equal to 02 months’ salaries in case the enterprise’s funds are not adequate;

dd) Be provided with financial assistance in construction of kindergartens and education in areas without public schools; healthcare in areas where medical stations have to be maintained;

e) Depreciate the fixed assets that are expensive productions lines for weapons, military vehicles, equipment serving defense and security according to instructions of the Ministry of Finance.

2. Employees of a defense and security enterprise shall be entitled to the following benefits:

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b) Employees who are injured or die during performance of defense and security tasks will be considered for recognitions as meritorious persons if eligible; employees having occupational accidents will be considered for occupational accident benefits as prescribed by labor laws.

c) The State shall provide adequate funding to pay salaries and social insurance for commissioned officers and career military personnel during retirement preparation time; payments for discharge, resignation according to applicable regulations; provide assistance in paying salaries to essential employees that have to be maintained to operate defense and security production lines in case of production suspension without being able to cover the costs.

Article 17. Recognition, re-recognition of defense and security enterprises

1. The Prime Minister shall decide recognition and re-recognition of defense and security enterprises on the basis of the request of the Ministry of National Defense and the Ministry of Public Security and validation by the Ministry of Planning and Investment every 05 years.

2. Recognition, re-recognition of defense and security enterprises shall be organized as follows:

a) Within 01 year from the effective date of this Decree and 06 months before the periodic re-recognition of defense and security enterprises, the Ministry of National Defense and the Ministry of Public Security shall review the enterprises that satisfy the conditions specified in Article 13 of this Decree to prepare applications for recognition and re-recognition of defense and security enterprises: send 03 sets of applications for recognition/re-recognition of the defense and security enterprise as prescribed in Article 18 of this Decree to the Ministry of Planning and Investment for validation.

b) The Ministry of Planning and Investment shall seek opinions from the Ministry of Finance and relevant Ministries where necessary after receiving the satisfactory application. The Ministry of Finance and enquired Ministries shall offer their opinions about within 15 working days from the receipt of the enquiry from the Ministry of Finance.

d) The Ministry of National Defense and the Ministry of Public Security shall send their responses to the Ministry of Planning and Investment; complete their applications and submit them to the Prime Minister for recognition and re-recognition of defense and security enterprises.

3. A new enterprise that satisfies the conditions specified in Article 13 of this Decree will be recognized as a defense and security enterprise without undergoing the recognition process. The written approval or decision on establishment of the enterprise issued by the Prime Minister can replace the decision on recognition of defense and security enterprise.

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5. Single-member limited liability companies in which state ownership is represented by the Ministry of National Defense or the Ministry of Public Security that are not recognized or re-recognized as defense and security enterprises shall undergo ownership transfer, rearrangement and capital withdraw as prescribed by law.

Article 18. Application for recognition/re-recognition of defense and security enterprise

An application for recognition/re-recognition of defense and security enterprise shall have the following contents:

1. The enterprise’s name; sectors, business lines, location; defense and security tasks, products and services provided by the enterprise over the last 05 years before application date.

2. Assessment of the enterprise’s performance over the last 05 years (charter capital, equity, post-tax profit, payment to state budget; total debts payable, total employees).

3. The enterprise’s name; sectors, business lines, location; defense and security tasks, products and services provided by the enterprise over the last 05 years before application date.

4. Objectives, plan for enterprise development in the next 05 years from the application date.

5. Other contents relevant to the recognition/re-recognition of defense and security enterprise (if any); documents relevant to defense and security tasks assigned or ordered by the Ministry of National Defense or the Ministry of Public Security.

Article 19. Assigning defense and security tasks, ordering defense and security products and services, inspection and supervision of defense and security enterprises

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2. Before August 31 every year, the Ministry of National Defense and the Ministry of Public Security shall submit reports to the Prime Minister, the Ministry of Planning and Investment and the Ministry of Finance on performance of enterprises under their management in the preceding year. Such a report shall specify: the enterprise’s business performance; production, provision of defense and security products and services; performance of defense and security tasks; provision of benefits for the enterprise’s employees.

Chapter V

DISCLOSURE OF INFORMATION OF STATE-OWNED ENTERPRISES AND NATIONAL STATE-OWNED ENTERPRISE DATABASE

Section 1. DISCLOSURE OF INFORMATION OF STATE-OWNED ENTERPRISES

Article 20. Information disclosure principles

1. The disclosure of information of state-owned enterprises shall be adequate, accurate and timely as prescribed by law in order to ensure openness and transparency of the enterprises’ operation, ensure effectiveness of management and supervision by state authorities and the society.

The enterprise’s legal representative or the person authorized to disclose information shall be responsible for the adequacy, timeliness, truthfulness and accuracy of the information disclosed.

3. The report on information disclosure shall be prepared according to the form in Appendix II hereof and converted into an electronic file (pdf, Word, Excel). The filename shall match the type of report as specified in Appendix II hereof. Information shall be disclosed in Vietnamese language.

4. An online information disclosure report has the same legal value as that of a physical report and is the basis for comparison and verification of information serving information collection; inspection, supervision as prescribed by law.

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Article 21. Methods and means of information disclosure

1. Information may be disclosed in the form of physical documents and electronic data.

2. Means of information disclosure include:

a) The enterprise’s website.

b) The state ownership representative body’s website.

c) www.business.gov.vn.

3. In case the information disclosure date is a day off or public holiday prescribed by law, the enterprise shall disclose information on the day succeeding the day off or public holiday.

4. information disclosure on means of mass media shall be regulated by state ownership representative bodies.

Article 22. Information disclosure accounts on www.business.gov.vn

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2. An information disclosure account on www.business.gov.vn shall have the following contents:

a) Information about the legal representative: full name, ID number; phone number, email address; position.

b) Basic information about the enterprise: The enterprise’s name, enterprise ID number, headquarters address, phone number, email address, website; state ownership representative body; ratio of state capital in the enterprise.

3. The enterprise must change its password within 01– 03 working days from the day on which the account is created; protect the account and password; promptly inform the Ministry of Planning and Investment if the account or password is lost or stolen or used by an unauthorized person.

Article 23. Periodically disclosed information

1. A wholly state-owned enterprise shall periodically disclose the following information:

a) Basic information about the enterprise and its charter;

b) Overall objectives, specific objectives and targets of the annual business plan approved by the state ownership representative body according to Form No. 2 in Appendix II hereof; this information shall be disclosed before March 31 of the execution year;

b) Report on implementation of the annual business plan according to Form No. 3 in Appendix II hereof; this information shall be disclosed before June 30 of the year preceding the succeeding year;

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dd) 6-month report on administration and organizational structure of the enterprise according to Form No. 5 in Appendix II hereof; this information shall be disclosed before July 31 every year;

g) The mid-year financial statements and summaries thereof audited by an independent audit organization, including the financial statement of the parent company and the consolidated financial statement (if any) as prescribed by regulations of law on corporate accounting; this information shall be disclosed before July 31 every year;

h) The annual financial statements and summaries thereof audited by an independent audit organization, including the financial statement of the parent company and the consolidated financial statement (if any) as prescribed by regulations of law on corporate accounting; this information shall be disclosed within 150 days from the end of the fiscal year.

2. Enterprises over 50% charter capital or voting shares are held by the State shall disclose information in accordance with Points a, c, dd, e, h Clause 1 of this Article.

Article 24. Ad-hoc information disclosure

The enterprise shall disclose information on its website or printed matter (if any) and posted at the headquarters, business location, www.business.gov.vn and send a notification to the state ownership representative body within 36 hours from the occurrence of any of the events specified in Clause 1 Article 110 of the Law on Enterprises.

Article 25. Disclosing information

1. The enterprise shall publish the information specified in Article 23 and Article 24 of this Decree on its website and www.business.gov.vn on schedule; and concurrently send a report to the state ownership representative body. For information that is important, relevant to or affecting national secrets and security, business secrets, the enterprise shall request the state ownership representative body to decide which information should be restricted from disclosure.

2. The state ownership representative body shall publish on its website the information to be periodically disclosed by the enterprise within 05 working days from the day on which the enterprise’s report is received. The state ownership representative body shall decide restriction of disclosure of information that is important, relevant to or affecting national secrets and security, the enterprise’s business secrets, and submit a report to the Ministry of Planning and Investment for monitoring.

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1. The enterprise shall submit a report to the state ownership representative body in case information cannot be disclosed on schedule due to force majeure or the disclosure of which is subject to approval by the state ownership representative body.

2. The state ownership representative body shall consider delaying information disclosure and send a written notification to the Ministry of Planning and Investment.

3. The enterprise shall announce the delay on its website and disclose information after the force majeure event has been dealt with or after the state ownership representative body offers its opinion about information restricted from disclosure.

Section 2. NATIONAL STATE-OWNED ENTERPRISE DATABASE

Article 27. Rules for development, update, management and utilization of National State-owned Enterprise Database

1. The development, update, management and utilization of National State-owned Enterprise Database shall satisfy the following requirements:

a) The contents are appropriate, accurate, timely and effective;

b) Existing data are utilized; reuse of the same sources of data is avoided;

c) Long-term use is prioritized with an aim to achieve multiple objectives.

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Article 28. Management and utilization of National State-owned Enterprise Database

1. The following information about an enterprise may be published on www.business.gov.vn: The enterprise’s name, enterprise ID number, headquarters address, phone number, email address, website; state ownership representative body; ratio of state capital in the enterprise, the enterprise’s legal representative, business lines, periodic and ad-hoc information disclosure reports.

2. Enterprises are entitled to use information and data on National State-owned Enterprise Database using their information disclosure accounts.

3. The management and utilization of National State-owned Enterprise Database shall comply with guidance of the Ministry of Planning and Investment.

Article 29. Funding for development, update, management and utilization of National State-owned Enterprise Database

1. The funding for development, update, management and utilization of National State-owned Enterprise Database shall be provided from:

a) The state budget;

b) Aids, sponsorships and other lawful sources of funding.

2. The management and use of funding for development, update, management and utilization of National State-owned Enterprise Database shall comply with regulations of the Law on State Budget, bidding laws, regulations of sponsors and relevant laws.

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Article 30. Responsibilities of enterprises

1. Establish regulations on information disclosure in accordance with this Decree, including authority, responsibility, tasks of relevant individuals and units.

2. Build a website within 03 months from the effective date of this Decree. The website shall display the time of upload of the information and basic information about the enterprise; periodic and ad-hoc information disclosure reports prescribed by this Decree.

3. Declare and take responsibility for the accuracy of information updated in electronic forms on www.business.gov.vn when uploading information disclosure reports.

Defense and security enterprises shall update electronic forms to www.business.gov.vn, information about finance and business performance of the preceding year before June 30 every year, including: charter capital, equity, total assets, total revenue, pre-tax and post-tax profits, taxes and other amounts paid to the State, total outward investment, financial investment, total liability, total number of employees, salary fund, average salary.

4. Comply with regulations; facility inspection and supervision by state ownership representative bodies and relevant authorities as prescribed by law.

Article 31. Responsibilities of state ownership representative bodies

1. Develop a separate column on information disclosure by enterprises on the state ownership representative body’s website; provide adequate funding form state budget or other lawful sources to upgrade, maintain, operate the state ownership representative body’s website serving information disclosure by enterprises as prescribed by this Decree.

2. Approve contents of reports prescribed in Point b Clause 1 Article 23 of this Decree before March 20 every year and upload periodic information disclosure reports to the state ownership representative body’s website.

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Article 32. Responsibilities of the Ministry of Planning and Investment

1. Ensure information infrastructure and necessary devices for management, maintenance, operation of www.business.gov.vn; ensure continuity, stability, safety and accessibility of information disclosed by enterprises.

2. Organize training; provide guidance on information disclosure, management and use of National State-owned Enterprise Database.

4. Develop, update, manage, use National State-owned Enterprise Database on www.business.gov.vn to ensure access and effective use of information serving social interests.

5. Preside over the integration, sharing, connection of National State-owned Enterprise Database with enterprise database of Ministries, ministerial agencies, governmental agencies, the People’s Committees of provinces and other organizations to facilitate the Government’s administration.

6. Periodically review and propose upgrades to information technology infrastructure of www.business.gov.vn. Prepare periodic or ad-hoc estimates of regular expenditures to ensure adequate budget for operation and upgrade of www.business.gov.vn.

Article 33. Handling violations

1. Enterprises that violate regulations on this Decree on information disclosure shall face administrative penalties for violations against regulations on planning and investment according to regulations of the Government.

2. Te state ownership representative body shall assess and rank executives, representatives of state capital in enterprises in accordance with applicable regulations on management of people holding positions and representatives of state capital in enterprises in case the commit the following violations:

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b) Disclosed information is not truthful and accurate.

3. The state ownership representative body shall be responsible to the Government for:

a) Failure to supervise and inspect information disclosure by enterprises in accordance with this Decree;

b) Failure to publicly and punctually upload the information disclosed by enterprises under its management to its website.

Chapter V

IMPLEMENTATION CLAUSES

Article 34. Effect and transition clauses

1. This Decree comes into force from the day on which it is signed.

2. This Decree replaces and annuls the following documents:

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b) The Government’s Decree No. 93/2015/ND-CP dated October 15, 2915 on organization, management and operation of defense and security enterprises.

c) The Government’s Decree No. 96/2015/ND-CP dated October 19, 2015 elaborating some Articles of the Law on Enterprises.

d) The Prime Minister’s Decision No. 35/2013/QD-TTg dated June 07, 2013 promulgating operating regulations of the Board of Controllers and Controllers of wholly state-owned single-member limited liability companies.

3. Enterprises recognized as defense and security enterprises under Decree No. 93/2015/ND-CP are entitled to the benefits specified in Article 16 of this Decree for 3 years from the issuance date of the decisions on recognition of defense and security enterprise. After this 3-year period, they shall implement the regulations of this Decree on re-reorganization of defense and security enterprises.

4. Except the cases specified in Clause 3 Article 195 of the Law on Enterprises, the enterprises that contributed capital or purchased shares before June 01, 2015 may buy, sell, transfer, increase, decrease the stakes/shares but must not increase the cross ownership ratio before July 01, 2015.

Article 35. Responsibility for implementation

1. The Ministry of Finance shall take charge and cooperate with the Ministry of Labor, War Invalid and Social Affairs, the Ministry of National Defense and the Ministry of Public Security in providing guidelines for implementation of Article 16 of this Decree.

2. The Ministry of National Defense and the Ministry of Public Security shall provide guidelines for implementation of regulations on reporting information disclosure, inspection supervision of defense and security enterprises; standards, conditions, procedures for designation, dismissal, removal from office, commendation, disciplining of people holding managerial positions in defense and security enterprises prescribed in Clause 2 Article 15 of this Decree.

3. Ministries, ministerial agencies, governmental agencies, the People’s Committees of provinces, relevant organizations and individuals are responsible for connection, integration, sharing information about state-owned enterprises with National State-owned Enterprise Database as instructed by the Ministry of Planning and Investment.

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ON BEHALF OF THE GOVERNMENT
THE PRIME MINISTER




Nguyen Xuan Phuc