Article 90. Organizational structure

The state ownership representative body shall decide whether to apply one of the two models below to organize the state-owned enterprise as a single-member limited liability company:

1. A company with a President, Director/General Director and Board of Controllers;

2. A company with a Board of Members, Director/General Director and Board of Controllers.

Article 91. The Board of Members

1. The Board of Members shall perform the company’s rights and obligations in the company’s name as prescribed by this Law and relevant laws.

2. The Board of Members shall consist of up to 07 members including a President. Members of the Board of Members shall be designated, dismissed, rewarded and disciplined by the state ownership representative body.

3. The term of office of the President and other members of the Board of Members shall not exceed 05 years. A member of Board of Members may be designated again for not more than 02 terms in the same company unless he/she has worked for the company for more than 15 consecutive years before the first designation.

Vinascgroup

Article 92. Rights and obligations of the Board of Members

1. The Board of Members shall, in the name of the company, perform the rights and obligations of the owner, shareholders/members of other companies owned by the company or whose shares/stakes are owned by the company.

2. The Board of Members has the following rights and obligations:

a) Decide the matters prescribed in the Law on Management and use of State Investment in Enterprises;

b) Decide establishment, reorganization, dissolution of the company’s branches, representative offices and dependent units;

c) Decide the company’s annual business plan, policies on market development, marketing and technology;

d) Organize internal audits and decide establishment of the company’s internal audit unit;

dd) Other rights and obligations prescribed by the company’s charter, this Law and relevant laws.

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