Retention of enterprise’s documents
Article 11. Retention of enterprise’s documents
1. Depending on the form, the enterprise must retain the following documents:
a) The company’s charter; internal rules and regulations; member register or shareholder register;
b) Certificate of industrial property rights; Certificate of product quality registration; other licenses and certificates;
c) Documents proving the company’s ownership of its assets;
d) Minutes of meetings of the Board of members, the General Meeting of Shareholders, the Board of Directors; the enterprise’s decisions;
dd) The prospectus for securities issuance;
e) Reports made by the Control Board; conclusions of inspection authorities; conclusions of audit organizations;
g) Accounting books, accounting documents, and annual financial statements.
2. The documents mentioned in Clause 1 of this Article must be kept at the headquarter or another location prescribed in the company’s charter. The retention duration shall comply with relevant regulations of law.
Article 12. Reporting changes to information about the enterprise’s manager
The enterprise must notify the business registration authority of the changes to the name, address, nationality, ID number, passport number or other ID papers of the following persons within 05 days from the day on which such changes are made:
1. Members of the Board of Directors of the joint-stock company;
2. Members of the Control Board or controllers;
3. The Director or General Director.
Article 13. Legal representative
1. The legal representative of an enterprise is the individual that exercises the rights and fulfills the obligations on when making transactions on behalf of the enterprise, represents the enterprise as the plaintiff, defendant, and person with relevant interests and duties before the arbitral tribunal, the court, exercises other rights and fulfills other obligations as prescribed by law.
2. A limited liability company or joint-stock company may have one or multiple legal representatives. The quantity, titles, rights and obligations of legal representative of the enterprise shall be specified in the company’s charter.
3. There must always be at least one legal representative that resides in Vietnam. If the enterprise has only one legal representative, such person must resides in Vietnam and authorizes another person in writing to perform the legal representative’s right and obligations when leaving Vietnam. In this case, the legal representative is still responsible for the performance of delegated rights and obligations.
4. In case the legal representative does not return to Vietnam at the end of the authorization period and does not give another authorization:
a) The authorized person of the sole proprietorship shall keep performing the legal representative’s rights and obligations within the scope of authorization until the legal representative goes back to work at the enterprise;
b) The authorized person of the limited liability company, joint-stock company, or partnership shall keep performing the legal representative’s rights and obligations within the scope of authorization until the legal representative goes back to work at the enterprise, or until the company owner, the Board of members, or the Board of Directors decides to designate another person as the legal representative of the enterprise.
5. If the enterprise has only one legal representative and such person is not present in Vietnam for more than 30 days without authorizing another person to act as the legal representative, or such person is dead, missing, detained, sentenced to imprisonment, or legally incompetent, then the company owner, the Board of members, or the Board of Directors shall designate another person as the legal representative.
6. With regard to a limited liability company with two members, if the member who is the legal representative of the company is detained or sentenced to imprisonment, makes a getaway, is missing or legally incompetent, or is banned from practicing by the court for smuggling, producing counterfeits, running illegal businesses, tax evasion, fraud, or another crime defined by Criminal Code, the other member is naturally the company’s legal representative until the Board of members makes a decision on company’s legal representatives.
7. In some special cases, the Court is entitled to appoint the legal representative during the proceedings.
Tin liên quan
The power to appoint border checkpoints for export and import
The export tariff-rate quota and import tariff-rate quota
The export restriction and import restriction
The list of prohibited exports and imports is made by the Government.
Prohibited actions in the foreign trade management
The Ministry of Finance shall take charge and cooperate with relevant authorities
Responsibility for the state administration related to the foreign trade.
Principles of state administration related to the foreign trade
Reporting Interests in Joint Ventures in the Financial Statements of an Investor
Separate Financial Statements of a Venturer