Decision No. 975/QD-TTg of June, 25, 2010, conversion of parent Company – Vietnam Electricity to one-member limited liability company owned by the state

DECISION

CONVERSION OF PARENT COMPANY – VIETNAM ELECTRICITY TO ONE-MEMBER LIMITED LIABILITY COMPANY OWNED BY THE STATE

THE PRIME MINISTER

Pursuant to the Law on organization of Government dated December 25, 2001;

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to the Enterprise Law dated November 29, 2005;

Pursuant to Decree No. 25/2010/ND-CP dated March 19, 2010 of the Government on conversion of State-owned companies into limited liability companies and management organization of one-member limited liability companies owned by the State;

At the request of the Board of Directors of Vietnam Electricity,

DECIDES

Article 1. Conversion of parent Company – Vietnam Electricity (hereafter referred to as Vietnam Electricity) to one-member limited liability Company owned by the state, with the following main contents:

1. Name after conversion:

a) Full name: Vietnam Electricity

b) Transaction name: Vietnam Electricity

c) International transaction name: Vietnam Electricity.

d) Abbreviated name: EVN.

2. Type of business: One-member limited liability Company

3. Vietnam Electricity has its legal status under Vietnamese law; its own seal and opens accounts at banks as provided for by law; is organized and operates under the Enterprise Law, the relevant laws and the Charter of organization and operation approved by the Prime Minister;

4. Head office: No. 18 Tran Nguyen Han St., Ly Thai To ward, Hoan Kiem dist., Hanoi city;

5. Business line:

a) Main business lines:

- Production, dispatch, wholesale buying and wholesale of power.

- Import and export of power;

- Investment and management of invested capital of power projects

b) Business lines related to main business lines:

- Import and export of fuel, raw materials and supplies of electricity sector;

- Financial investment and capital business;

- Labour training cooperation with foreign countries;

- Training of human resources;

- Other business lines as provided for by law;

The investment and trading in business lines related to the main business lines must comply with the current regulations of law;

6. Charter capital:

Charter capital at the time of conversion: 110,000,000 billion dong (one hundred and ten thousand billion dong);

The determination to adjust and add charter capital shall comply with regulations of law

7. Exercise of owner’s rights and obligations:

The Prime Minister and the Ministries under the authorization of Government shall exercise the state owner’s rights and obligations over Vietnam Electricity;

8. Members of Board of members of Vietnam Electricity shall comply with provisions in Article 21 of Decree No. 25/2010/ND-CP dated March 19, 2010 of the Government on conversion of State-owned company to one-member limited liability company and management organization of one-member limited liability Company owned by the State. The Chairman and members of Board of Directors of Vietnam Electricity shall be the Chairman and the members of Board of members of Vietnam Electricity until the Prime Minister appoints the new Chairman and the members of Board of members of Vietnam Electricity;

9. After the conversion to one-member limited liability company, the Vietnam Electricity shall inherit the rights, obligations and legal interest and settle the existing and arising issues of the Vietnam Electricity before conversion;

Article 2. Implementation organization

1. The Ministry of Industry and Trade shall:

a) Direct, inspect, urge and monitor the implementation of this Decision; promptly review and make a report to the Prime Minister to settle the issues arising in the implementation beyond its authority;

b) Appoint the Supervisor of Vietnam Electricity under the authorization of Prime Minister at the official dispatch No.1065/TTg-DMDN dated June 23, 2010 of the Prime Minister on implementation of Decree No. 25/2010/ND-CP.

2. The Ministry of Finance shall:

a) Assume the prime responsibility for and coordinate with the Ministry of Industry and Trade and the Vietnam Electricity in determination of charter capital in accordance with current regulations;

b) Approve the amendment and addition of Regulation on financial management in accordance with the form of organization and operation of the Vietnam Electricity

3. The Board of members of Vietnam Electricity shall:

a) Submit the Charter of organization and operation of Vietnam Electricity to the Prime Minister for approval;

b) Make a determination to adjust the charter capital of Vietnam Electricity in accordance with current regulations;

c) Register enterprises and re-register the asset ownership of Vietnam Electricity as prescribed;

d) Implement the use of land which the Vietnam Electricity is assigned for management and use in accordance with current regulations;

dd) Request the Prime Minister to approve the appointment of General Director of Vietnam Electricity;

e) Submit the financial Regulation of Vietnam Electricity;

4. The General Director of Vietnam Electricity, before the conversion, shall manage the operation of Vietnam Electricity until its Board of members appoints a new General Director;

Article 3. This Decision takes effect on the date of its signing;

Ministers of Industry and Trade, Finance, Labour - Invalids and Social Affairs, Planning and Investment, Home Affairs, the Heads of the agencies concerned, the Steering Committee for Innovation and Development of Enterprise, the Board of Directors of Vietnam Electricity and the Board of members of Vietnam Electricity are liable to execute this Decision. /.