Tiếng Việt
中文Yes. The Chairman of the Members’ Council of Vietnam Debt and Asset Trading Corporation (DATC) may sign resolutions and decisions of the Members’ Council on its behalf within the authority prescribed by DATC’s Charter of organization and operation.
1. Who appoints the Chairman of the DATC Members’ Council?
Under Clause 1, Article 23 of the Charter of organization and operation of Vietnam Debt and Asset Trading Corporation — a single-member limited liability company — issued together with Circular No. 142/2021/TT-BTC of the Ministry of Finance (hereinafter the “DATC Charter”):
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“The Chairman of the Members’ Council is appointed by the Ministry of Finance. The Chairman of the Members’ Council of Vietnam Debt and Asset Trading Corporation may not concurrently hold the position of General Director of Vietnam Debt and Asset Trading Corporation or of other enterprises.”
2. Authority to sign on behalf of the Members’ Council
Under Clause 2, Article 23 of the DATC Charter, the Chairman of the Members’ Council has the right and responsibility to sign resolutions and decisions of the Members’ Council on its behalf after they have been adopted by the Members’ Council in accordance with the order, procedures, and voting principles prescribed in the Charter.
Signing on behalf does not change the decision-making authority of the Members’ Council; the Chairman of the Members’ Council may not decide on his/her own matters within the collective authority of the Members’ Council.
Notes on application
DATC is an enterprise 100% State-owned, organized and operating under the Charter issued by the Ministry of Finance. Regulations on State capital management at enterprises currently apply under the Law on Management and Investment of State Capital at Enterprises No. 68/2025/QH15 (effective from 01/8/2025).
Common risks to note
- Citing the wrong document number (the Circular of the Ministry of Finance issuing the DATC Charter is Circular No. 142/2021/TT-BTC);
- Confusing the authority to sign on behalf with the authority to decide on matters within the Members’ Council’s authority.
How can ANT Legal help?
ANT Legal supports reviewing the authority and procedures for issuing resolutions and decisions of the Members’ Council of State-owned enterprises. For advice, please contact our lawyers at ANT Legal.
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