Standards and conditions of Director/General Director

Article 100. Standards and conditions of Director/General Director, Chief accountant

accounting-services-in-vietnam2The Director/Deputy Director must:

1. Has qualifications and actual experience of the business administration or of the company’s business lines.

2. Not be a spouse, birth parent, adoptive parent, birth child, adopted child, brother, sister of the manager of head or deputy head of the representative agency.

3. Not be a spouse, birth parent, adoptive parent, birth child, adopted child, brother, sister of the manager of any member of the Board of members.

4. Not be a spouse, birth parent, adoptive parent, birth child, adopted child, brother, sister of the Deputy Director/Deputy General Director or Chief accountant of the company.

5. Not be a spouse, birth parent, adoptive parent, birth child, adopted child, brother, sister, brother-in-law, sister-in-law of the company’s Controller.

6. Not concurrently hold the position of official in a regulatory agency, political organization, or socio-political organization.

7. Not ever be discharged from the position of the Chairperson of the Board of members, member of the Board of members, the company’s President, Director/General Director, Deputy Director/Deputy General Director of another state-owned company.

8. Not concurrently hold the position of Director/General Director of another enterprise.

9. Satisfy other standards and conditions prescribed by the company’s charter.

accounting-services-in-vietnam1Article 101. Dismissal, discharge from duty of Director/General Director and other managers

1. The Director/General Director shall be dismissed when he/she:

a) fails to satisfy the standards and requirements in Article 100 of this Law;

b) tenders a resignation.

2. The Director/General Director shall be discharged from duty in the following cases:

a) The enterprise fails to preserve the capital as prescribed by law;

b) The enterprise fails to achieve annual business targets;

c) The qualifications and competency of the Director/General Director do not meet the requirements for the new business plan and development strategy of the enterprise.

d) The enterprise commits violations of law or its business operation is against the law;

dd) Any of the manager’s duties is violated according to Article 96 of this law;

e) Other cases prescribed by the company’s charter.

3. The cases in which the Deputy Director/Deputy General Director, Chief accountant, and other managers are dismissed and discharged from duty shall be specified by the company’s charter.