What fields do you need to have a university degree in to become Chairman of a central cooperative?

What company model does the Central Cooperative Fund operate under?

The Central Cooperative Fund operates according to the model based on Article 7 of Decree 45/2021/ND-CP as follows:

Operating model of the Central Cooperative Fund

The Central Cooperative Fund is an off-budget state financial fund, operating under the model of a one-member limited liability company with 100% charter capital held by the State according to the provisions of this Decree.

Thus, according to the law, the Central Cooperative Fund operates according to the model of a one-member limited liability company. In addition, the Central Cooperative Fund is an extra-budget state financial fund, the state holds 100% of the charter capital.

Who is responsible for building and submitting to the Vietnam Cooperative Alliance for approval the annual financial plan of the Central Cooperative Fund?

The person responsible for developing and submitting to the Vietnam Cooperative Alliance for approval the annual financial plan of the Central Cooperative Fund is specified in Article 8 Decree 45/2021/ND-CP as follows:

Powers and responsibilities of the Prime Minister and the Vietnam Cooperative Alliance, Chairman of the Central Cooperative Fund for the Central Cooperative Fund

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3. The Chairman of the Central Cooperative Fund performs the following rights and duties:

a) Develop and submit to the Vietnam Cooperative Alliance for approval: operating plan, annual financial plan of the Central Cooperative Fund;

b) Recommend the Vietnam Cooperative Alliance to plan, appoint, reappoint, accept resignation, dismissal, transfer, rotation, reward, discipline Law, resignation, retirement of the Chairman, General Director and Controller of the Central Cooperative Fund;

c) Decisions on planning, appointment, evaluation and reappointment; Approve the resignation, dismissal, reward, discipline, resignation, retirement of the Deputy General Director, Chief Accountant of the Central Cooperative Fund after the policy is approved by the Vietnam Cooperative Alliance;

d) Propose the Vietnam Cooperative Alliance to amend and supplement the Charter of organization and operation of the Central Cooperative Fund; submit to competent authorities to adjust the increase or decrease in charter capital, structure, reorganization, model conversion, dissolution, and bankruptcy of the Central Cooperative Fund;

d) Submit to the Vietnam Cooperative Alliance for approval of financial reports, profit distribution, and annual fund appropriations of the Central Cooperative Fund after receiving appraisal opinions from the Controller of the Central Cooperative Fund;

e) Decide to promulgate, amend and supplement internal processes and regulations on the organization, administration and operation of the Central Cooperative Fund after obtaining approval from the Vietnam Cooperative Alliance;

g) Implement other powers and responsibilities specified in the Charter of organization and operation of the Central Cooperative Fund.

Thus, according to the law, the Chairman of the Central Cooperative Fund is responsible for building and submitting to the Vietnam Cooperative Alliance for approval the annual financial plan of the Central Cooperative Fund.

To become Chairman of a central cooperative, do you need a university degree in what fields?

To become the Chairman of a central cooperative, you need to have a university degree in the fields specified in Article 10 of Decree 45/2021/ND-CP as follows:

Chairman of the Central Cooperative Fund

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3. Standards and conditions to be appointed Chairman of the Central Cooperative Fund:

a) Be a Vietnamese citizen according to the provisions of law;

b) Have full capacity for civil acts and good health to undertake tasks;

c) Have a university degree or higher in the fields of economics, finance, banking, law, accounting, auditing;

d) Have at least 03 years’ experience as a manager or executive in one of the fields of economics, finance, banking, law, accounting, auditing;

d) Not being the spouse, biological father, adoptive father, biological mother, adoptive mother, biological child, adopted child, biological brother, biological sister, biological brother, brother-in-law, sister-in-law, sister-in-law of the Chairman, Vice Chairman of the Vietnam Cooperative Alliance; Controller, General Director, Deputy General Director and Chief Accountant of the Fund;

e) Other standards and conditions according to management requirements of the Vietnam Cooperative Alliance specified in the Charter of organization and operation of the Cooperative Fund.

4. The powers and responsibilities of the Chairman of the Central Cooperative Fund comply with the provisions of Clause 3, Article 8 of this Decree and the Charter of organization and operation of the Central Cooperative Fund.

Thus, according to the provisions of law on standards and conditions to be appointed as Chairman of central cooperatives, one must have a university degree or higher in the fields of economics, finance, banking, law, accounting, and auditing.