What are regulations on charter of Vietnam Securities Depository and Clearing Corporation (VSDCC)?

What are regulations on charter of VSDCC in Vietnam?

Hello Lawnet. I would like to know some information about regulations on charter of VSDCC according to the current Law. Thank you!

Answer:

Pursuant to Article 54 of the Law on Securities in 2019 stipulating the following contents in the Charter of VSDCC:

- Names, addresses of the headquarters and branches;

- Objectives and operating scope;

- Charter capital; method for increasing, decreasing of charter capital and stake transfer;

- Names, addresses and basic information of the founding shareholders, capital contributors or owners;

- Stakes or shares and capital contributed by the founding shareholders, capital contributors or owners;

- The legal representative;

- The organizational structure;

- Rights and obligations of VSDCC

- Rights and obligations the shareholders, capital contributors or owners;

- Rights and obligations of the Board of members, Board of Directors, General Director (Director), the Board of Controllers (Controllers);

- Method for ratification of VSDCC’s decisions;

- Formalities for amending the charter;

- Applied accounting and audit regulations;

- Establishment and use of funds; rules for use of profits, settlement of losses and other financial regulations;

- Rules for internal dispute settlement.

The charter of VSDCC shall be approved, issued, amended by the Minister of Finance at the request of the Board of members or Board of Directors of VSDCC and according to comments of the President of State Securities Commission in Vietnam.

Above are information about regulations on charter of VSDCC in Vietnam.

What is the organizational structure of VSDCC in Vietnam?

Hello Lawnet. I'm looking for some information about amendments on regulations on securities. What is the organizational structure of VSDCC in Vietnam according to the current Law? Thank you!

Answer:

Pursuant to Article 53 of the Law on Securities in 2019 stipulating the organizational structure of VSDCC in Vietnam as follows:

- The Prime Minister shall decide the organizational structure of VSDCC in accordance with this Law, the Law on Enterprises and relevant laws.

- The Chairperson of the Board of members, the Chairperson of the Board of Directors, General Director (Director) of VSDCC shall be designated and dismissed by the Minister of Finance at the request of the Board of members or Board of Directors of VSDCC and according to comments of the President of SSC.

- Rights and obligations of the Board of members, Board of Directors, General Director (Director), the Board of Controllers (Controllers) shall comply with regulations of law and the charter of VSDCC.

Above are information about the organizational structure of VSDCC in Vietnam.

What are regulations on establishment and operation of VSDCC in Vietnam?

Hello Lawnet. What are regulations on establishment and operation of VSDCC in Vietnam according to the current Law? Looking forward to your answer.

Answer:

Pursuant to Article 52 of the Law on Securities in 2019 stipulating the establishment and operation of VSDCC in Vietnam in Vietnam as follows:

- VSDCC is an enterprise that is established and operated in accordance with this Law, the Law on Enterprises. Over 50% of charter capital or voting shares of VSDCC shall be held by the State.

- The Prime Minister shall issue decisions on establishment, dissolution, operating model, type of ownership, functions, tasks and powers of VSDCC, and establishment of its subsidiaries as proposed by the Minister of Finance.

- VSDCC is under management and supervision of SSC.

Above are information about the establishment and operation of VSDCC in Vietnam.

Best regards!