Regulations on Directors, General Directors and Deputy Directors, Deputy General Directors in State-owned Enterprises?

Regulations on Directors, General Directors and Deputy Directors, Deputy General Directors in State-owned Enterprises?

According to Article 100 of the Law on Enterprises 2020, regulations on Directors, General Directors, Deputy Directors and Deputy General Directors General Director in State-owned Enterprises is as follows:

(1) Director or General Director is appointed or hired by the Board of Members or the President of the company according to the personnel plan approved by the owner’s representative agency.

(2) The Director or General Director is responsible for managing the company’s daily activities and has the following rights and obligations:

– Organize and evaluate the results of implementing plans, business plans, and investment plans of the company;

– Organize the implementation and evaluate the results of implementing resolutions and decisions of the Board of Members, the Chairman of the company and the agency representing the company’s owner;

– Decide on the company’s daily affairs;

– Issue the company’s internal management regulations approved by the Board of Members or the Company’s President;

– Appoint, hire, dismiss, dismiss, and terminate labor contracts for company managers, except for positions under the authority of the Board of Members or the Company President;

– Signing contracts and transactions on behalf of the company, except for cases falling under the authority of the Chairman of the Board of Members or the Company President;

– Prepare and submit quarterly and annual reports to the Board of Members or the Chairman of the company on the results of implementing business plan goals; financial reports;

– Propose the allocation and use of after-tax profits and other financial obligations of the company;

– Labor recruitment;

– Propose a plan to reorganize the company;

– Other rights and obligations according to the provisions of law and the company’s Charter.

(3) The company has one or more Deputy Directors or Deputy General Directors. The number and authority to appoint Deputy Directors or Deputy General Directors are specified in the company’s Charter. Rights and obligations of the Deputy Director or Deputy General Director are specified in the company charter and labor contract.

Standards and conditions of Directors and General Directors in State-owned Enterprises?

About the standards and conditions to become Director and General Director in State-owned Enterprises are stipulated in Article 101 of the Law on Enterprises 2020, specifically:

“Article 101. Standards and conditions of Directors and General Directors Director

1. Not subject to the provisions of Clause 2, Article 17 of this Law.

2. Have professional qualifications and experience in business administration or in the company’s field, industry or business.

3. Not be a family member of the head or deputy head of the member representative agency; Board of members, Chairman of the company; Deputy General Director, Deputy Director and Chief Accountant of the company; Controller of the company.

4. Never been dismissed from the position of Chairman of the Board of Members, member of the Board of Members, President of the company, Director or General Director, Deputy Director or Deputy General Director of the company or other state-owned enterprise.

5. Must not be a Director or General Director Director of another enterprise.

6. Other standards and conditions specified in the company’s Charter.”

Accordingly, to become a Director or General Director in a State-owned enterprise, you need to meet the following requirements:

– Not subject to the provisions of Clause 2, Article 17 of this Law.

– Have professional qualifications and experience in business administration or in the company’s field, industry or business.

– Not a person related to the family of the head or deputy head of the owner’s representative agency; Member of the Board of Members, Chairman of the company; Deputy General Director, Deputy Director and Chief Accountant of the company; Company controller.

– Have never been dismissed as Chairman of the Board of Members, member of the Board of Members, President of the company, Director or General Director, Deputy Director or Deputy General Director at the company or at another state-owned enterprise.

– Must not concurrently be Director or General Director of another enterprise.

– Other standards and conditions specified in the company’s Charter.

In what cases can the Director, General Director and other managers of the company, Chief Accountant in State-owned Enterprises be dismissed or dismissed?

Pursuant to Article 102 of the Law on Enterprises 2020 stipulating the dismissal and dismissal of the Director, General Director and other managers of the company, Chief Accountant, specifically as follows:

(1) The Director or General Director is dismissed in the following cases:

– No longer meets the standards and conditions specified in Article 101 of this Law;

– There is a resignation letter.

(2) The Director or General Director is considered for dismissal in the following cases:

– The enterprise fails to preserve capital according to the provisions of law;

– The enterprise does not complete its annual business plan goals;

– Enterprises violate the law;

– Not having enough qualifications and capacity to meet the requirements of the enterprise’s development strategy and new business plan;

– Violate one of the rights, obligations and responsibilities of the manager specified in Article 97 and Article 100 of this Law;

– Other cases specified in the company’s charter.

(3) Within 60 days from the date of the decision to dismiss or dismiss, the Board of Members or the President of the company shall consider and decide to select and appoint another person to replace him.

(4) Cases of dismissal or dismissal of Deputy General Directors, Deputy Directors, other managers of the company, and Chief Accountant are prescribed by the Company’s Charter.