Responsibilities of authorized representative of owners, members, shareholders being organizations

Article 16. Responsibilities of authorized representative of owners, members, shareholders being organizations

bookkeeping-vinasc31. The authorized representatives of owners, members, shareholders being organizations shall perform the rights and obligations of owners, members, and shareholders on their behalf at the Board of members or the General Meeting of Shareholders in accordance with this Law.

All restrictions imposed by owners, members, shareholders upon the authorized representative’s performance of the rights and obligations of being owners, members, and shareholders shall not apply to any third party.

2. Authorized representatives must attend every meeting of the Board of members or the General Meeting of Shareholders; perform given rights and obligations in a truthful and careful manner to protect the lawful interests of the authorizing owners, members and shareholders

3. Authorized representatives are responsible to owners, members, shareholders being organizations for failure to fulfill the obligations prescribed in this Article. The authorizing owners, members, and shareholders are responsible to the third party for the responsibility pertaining the rights and obligations performed by the authorized representatives.

Article 17. Prohibited acts

1. Issuing or refusing to issue the Certificate of Business registration; requesting business founders to submit additional documents against this Law; delaying, obstructing, harassing business founders or enterprises’ operation.

2. Obstructing owners, members, shareholders of enterprises performing the obligations and rights prescribed in this Law and the company’s charter.

bookkeeping-vinasc13. Doing business as an enterprise without registration; carrying on doing business after the Certificate of Business registration has been revoked.

4. Providing untruthful information in the application for enterprise registration or application for adjustments to business registration.

5. Declaring false charter capital; failure to contribute sufficient charter capital as registered; deliberately determining inaccurate values of contributed assets.

6. Engaging in prohibited business lines; engaging in business lines subject to conditions without satisfying all of the conditions as prescribed in the Law on Investment, or failing to maintain fulfillment of such conditions throughout the business operation.

7. Money laundering, fraud.