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Circular No. 120/tt-Cc: A Guide To The Certification Of The Value Of The Property In Kind Owned By The Owners Of Private Enterprises And Joint Stock Companies

Original Language Title: Thông tư 120/TT-CC: Hướng dẫn việc chứng nhận giá trị tài sản bằng hiện vật thuộc sở hữu của chủ doanh nghiệp tư nhân và công ty cổ phần

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CIRCULAR of the MINISTRY OF JUSTICE guidelines for implementing article 3 of the Decree 221-dated 23 July 1991 (regulation of the Council of Ministers to materialize some things in private business Law) and article 4 of the Decree 222/dated 23 July 1991 (regulation of the Council of Ministers to materialize some things in corporate law) article 1. This circular guidelines for the establishment and licensing of private enterprises and companies in the industry have to be Chairman of the Council of Ministers to allow under article 5 of the law on private business and company law, article 11. The trades which are: 1. The production and circulation of explosives, poison, toxic chemicals;
2. Tap the type of precious minerals;
3. production and supply of electricity and water in large scale;
4. the production of means of broadcast communication, postal services and telecommunications; radio, publishing;
5. Ocean and air transportation;
6. export and import;
7. international travel.
Article 2. Individuals wishing to establish private business, the founders want to company founder to the business lines stated in article 1 of this circular, must submit the application for permission to establish to the Chairman of the provincial people's Committee, the city in Central or equivalent administrative units where based business.
Article 3. Application for the establishment of private enterprise include: 1. An application for permission to establish;
2. A business plan presentation award;
3. Certificate of the Bank about the monetary capital Vietnam, foreign currency, gold, that litigants have in bank accounts;
4. The certificate of the notary Agency on the value of the property in kind owned by the applicants established businesses to determine the initial capital investment.
5-level certificate or Diploma occupation which the law requires for certain trades.
Application for permission to establish a private business must specify: 1. the name, Surname, age, occupation and permanent address of the business owner;
2. The headquarters of the business plan; If there is more to Headquarters stating the main headquarters (where businesses have offices and legal transactions).
3. Objectives, specific business lines; If the business of many of the different lines they must specify each of the business lines;
4-the initial capital investment, clearly part of capital in Vietnam, foreign currency, gold and property in kind;
5. environmental protection measures such as pollution prevention, waste management ... must have the seal of the people's communes, wards and Committee on the permanent address of the litigants.
Article 4. Application for permission to establish the company include: 1. An application for permission to establish companies;
2. The draft statute of the company;
3. A business plan presentation award;
4. The certificate on the property of the Member to the company;
5. If a member joins the company as State enterprises they must have decided to allow the Agency's capital contribution and management of capital calculated into money.
6. by or certificate of proficiency in the profession of the Manager, operating the company's business activities which the law requires for certain trades.
Article 5. Application for incorporation must specify: 1. the name, Surname, age, permanent address of the founders; If the founder is held it must indicate the name, headquarters and decision-making bodies established in that organization.
2. The type, name, headquarters for the company's intended (where the company has offices and legal transactions).
3. Objectives, specific business lines; If many different industries business must specify each of the business lines;
4. Capital clearly stake in Vietnam, foreign currency, gold and capital in kind and way of capital contribution.
5. environmental protection measures;
6. The program builds the company;
Application must be signed by all the founders; If the founder is the only I could organize the signature of the representative of that organization. The founder is authoritative for a founders on behalf of yourself send to the Chairman of the provincial people's Committee, the city where open headquarters.
Article 6. About certificate properties say in articles 2, 4, 5, point 4 shall be as follows: 1. With respect to the limited liability company, is the Bank's certificate (for monetary capital Vietnam, foreign currency, or gold (in your account at the Bank) and the certificate of the notary for property in kind) to the corresponding property values of each morning founders intend to contribute to the company.
2. for company shares, as the Bank's certificate (for monetary capital Vietnam currency or gold. have in your bank account) and the certificate of the notary Agency (for assets in kind) about your property value corresponds to the number of shares that each founding members have signed up to buy.
Article 7.
1. The Chairman of the provincial people's Committee, the city in Central or equivalent administrative unit organizes the reception and consideration of xinm profile allows the establishment of private enterprises or companies because of the litigants.
2. The Department of industry management directly under the provincial people's Committee is the body that helps people's Committee Chairman in receiving and reviewing records, responsible for statements of opinion offers text with the Chairman of the provincial people's Committee in matters related to the management authority of their industry.
3. within 10 days (for private companies) and 20 days (for cr1) from the date of receipt of valid, Chairman of the people's Committee should have comments in writing stating the proposed comments to allow or not allow to establish business enterprises included into the application for permission to establish a private business or company and sent to the Ministry of industry management related.
Article 8. Within 10 days (for private companies) or 20 days (for the company) from the date of receiving documents, the Minister of industry to organize the management of receiving and reviewing of records, written comments on issues related to the management authority of their industry , which clearly suggested the comments allow or not allow established businesses simultaneously complete the application for permission to establish a private business or company and submitted to the President of the Council of Ministers.
Article 9.
1. Based on the record of litigants by the sector Manager up and on the basis of the opinion of the Chairman of the people's Committee and the Minister attached industry management, Chairman of the Council of Ministers reviewed and the decision to allow or refuse to allow the establishment of private enterprises or companies within the time limit of 10 days (for private companies) or 20 days (for with the company) since the date of the records.
2. The decision of the President of the Council of Ministers on whether to allow or not allow established businesses is gưỉ right for where people's Committee Chairman receives the original profile.
3. In case the President of the Council of Ministers authorizes the Minister of the relevant sector management review and the decision to allow or refuse to allow the establishment of private enterprises or companies, within a period of 20 days (for private companies) or 40 days (for the company) since the date of the profile Industry Manager, must make a decision and send the decision to the President of the people's Committee of staging the original profile.
Article 10. Based on the decision of the President of the Council of Ministers or the Minister of industry said manageable in point 9, the Chairman of the provincial people's Committee, the city in Central or equivalent administrative unit must be level or from established licensed private enterprises or companies for litigants. In case of refusal to grant a licence, the Chairman of the Committee to explain the reason.