THE PRIME MINISTER OF GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 266/2006/QD-TTg
Hanoi, November 23, 2006
 
DECISION
APPROVING THE SCHEME ON TRANSFORMING VIETNAM STEEL CORPORATION INTO ONE OPERATING AFTER THE PARENT - SUBSIDIARY COMPANY MODEL
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on State Enterprises dated November 26, 2003;
Pursuant to the Law on Enterprises dated November 29, 2005;
Pursuant to Decree No. 153/2004/ND-CP dated August 9, 2004 of the Government on the organization and management of the State corporations and the transformation of the State corporations and independent State companies into ones operating after the parent - subsidiary company model;
At the proposal of the Management Board of Vietnam Steel Corporation,
DECIDES:
Article1.
To approve the Scheme on transforming Vietnam Steel Corporation into one operating after the parent - subsidiary company model as follows:
1. The parent company - Vietnam Steel Corporation (VSC) shall be a State-owned company with its legal status and owned seal, the Charter on organization and operation; be allowed to open its account in Vietnamese Dong and in foreign currencies at the State Treasury, domestic and foreign banks according to the provisions of law; directly do business and production activities and invest capital in other companies; have responsibility to conserve and develop the State-owned capital at the parent company and capital invested in other companies.
The parent company shall be formed on the basis of reorganizing the Office of the Vietnam Steel Corporation, the Southern Steel Company and Phu My Flat Steel Company, dependent accounting units, non-business units and branches, have responsibility to inherit the legitimate rights and obligations of the former Vietnam Steel Corporation.
The execution and management apparatuses of the parent company include: the Management Board, the Control Board, the General Director, the deputy general directors, the chief accountant and assisting apparatuses.
2. Subsidiary companies include:
a) Companies, where the parent company holds dominant shares and capital:
- Hanoi Metal Joint Stock Company;
- Central Vietnam Metal Joint Stock Company;
- Ho Chi Minh City Metal Joint Stock Company;
- Bac Thai Metal Joint Stock Company;
- Southern Eagle Refractory Joint Venture Company;
- Da Nang Steel Joint Stock Company;
- Tan Thuan Steel Joint Stock Company;
- Southern Steel – Sai Gon Port Football Joint Stock Company.
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