THE GOVERNMENT
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 86/2006/ND-CP
Hanoi, August 21, 2006
 
DECREE
AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE GOVERNMENT'S DECREE NO. 132/2005/ND-CP OF OCTOBER 20, 2005, ON EXERCISE OF RIGHTS AND PERFORMANCE OF OBLIGATIONS OF THE STATE OWNER TO STATE COMPANIES
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the November 26, 2003 Law on State Enterprises;
At the proposal of the Minister of Planning and Investment,
DECIDES:
Article 1.- To amend and supplement a number of articles of the Government's Decree no. 132/2005/ND-CP of October 20, 2005, on exercise of rights and performance of obligations of the state owner to state companies, as follows:
1. To amend and supplement Point d, Clause 2 of Article 5 as follows:
"d/ To decide on the reorganization, dissolution or ownership transformation of state companies of special importance named in the Appendix to this Decree at the proposal of their management boards and based on the opinions of branch-managing ministries, the Ministry of Finance and the Ministry of Planning and Investment."
2. To amend and supplement Clause 1 of Article 6 as follows:
"1. The Prime Minister shall approve long-term objectives, strategies and plans as well as business lines of state companies of special importance named in the Appendix to this Decree at the proposal of their management boards and based on the opinions of branch-their management ministries and the Ministry of Planning and Investment; approve the objectives and strategies of the Vietnam Petroleum Corporation and the Vietnam Pharmacy Corporation at the proposal of branch-managing ministries and based on the opinions of the Ministry of Planning and Investment.
Ministers of branch-managing ministries shall direct and inspect the implementation of the above-said long-term objectives, strategies and plans which have been approved by the Prime Minister."
3. To amend and supplement Clauses 2 and 2 of Article 7 as follows:
"1. The Prime Minister shall approve the charters, and amendments and/or supplements to the charters of state companies of special importance named in the Appendix to this Decree at the proposal of their management boards and based on the opinions of branch-managing ministries, the Ministry of Finance and the Ministry of Planning and Investment.
On a case-by-case basis, the Prime Minister shall authorize ministers of branch-managing ministries to approve amendments and/or supplements to the charters of state companies specified in this Clause.
2. Ministries and provincial-level People's Committees shall approve the charters, and amendments and/or supplements to the charters of state companies established under their respective decisions and state companies established under the Prime Minister's decisions, which do not fall into the cases specified in Clause 1 of this Article."
4. To add the following paragraph to the end of Clause 1 of Article 8:
"1. On a case-by-case basis, the Prime Minister shall authorize the Minister of Finance to decide to invest capital in order to create the charter capital and adjust it in the course of operation of state companies established under his decisions at the proposal of their management boards and based on the opinions of branch-managing ministries."
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