THE GOVERNMENT

Decree No. 189/2013/ND-CP dated November 20, 2013 of the Government  amending and supplementing a number of articles of the Decree No. 59/2011/ND-CP on transformation of wholly state-owned enterprises into joint-stock companies
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on Enterprises dated November 29, 2005;
Pursuant to the Securities Law dated June 29, 2006;
At the proposal of the Minister of Finance,
Government issued Decree amending and supplementing some articles of Decree No. 59/2011/ND-CP on transformation of wholly state-owned enterprises into joint-stock companies.
Article 1: To amend a number of articles of Decree No. 59/2011/ND-CP on transformation of wholly state-owned enterprises into joint-stock companies as follows:
1. To amend Clause 7 of Article 14 as follows:
 “7. Equitization of Parent companies of state economic groups or state corporations, parent companies in a parent company - subsidiaries relationship with public service providers (hospitals, schools, institutes) will be handled as follows:

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a) In case equitized enterprises continue taking over, it is needed to carry out valuation included in equitized enterprise value.
b) In case equitized enterprises do not takeover, it is needed to send a report to the Prime Minister for consideration and decision to transfer to the relevant ministries to implement socialization as prescribed by law. The procedures for transformation must comply with the law. While pending the transformation, the governing ministries, People's Committees of provinces continue exercising the right to represent the state capital in these units.

 

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