Article 101. Requirements to be satisfied by the Director/General Director

1. He/she is not one of the persons specified in Clause 2 Article 17 of this Law.

2. He/she has professional qualifications and experience of busines administration or in the company’s business lines.

3. He/she is not a relative of the head or deputies of the state ownership representative body; any of the members of the Board of members, the company’s President; any of the Deputy Directors/General Directors, the chief accountant or Controllers of the company.

4. He/she has never been dismissed from the position of President of the Board of Members, member of the Board of Members, the company’s President, Director/General Director, Deputy Director/General Director of the company or another state-owned enterprise.

5. He/she is not holding the position of Director/General Director of another enterprise.

6. He/she satisfies other requirements specified in the company’s charter.

Article 102. Dismissal, discharge of the Director/General Director, other executives and the chief accountant

1. The Director/General Director shall be dismissed from office in the following cases:

a) He/she no longer fully satisfies the requirements specified in Article 101 of this Law;

b) He/she hands in the resignation.

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

a) The enterprise’s capital is not conserved as prescribed by law;

b) The enterprise fails to achieve its annual targets;

c) The enterprise violates the law;

d) The Director/General Director is not qualified for or capable of developing the enterprise’s new busines plan and development strategy;

dd) The Director/General Director fails to perform his/her rights and obligations prescribed in Article 97 and Article 100 of this Law;

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

3. Within 60 days from the issuance date of the decision on dismissal or discharge, the Board of Members or the company shall recruit or designate a person to hold the position.

4. The company’s charter shall provide for cases of dismissal and discharge of Deputy Directors/General Directors, other executives and the chief accountant.