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Question :: Some enterprises have recently issued convertible bonds in the Stock Market. What is the convertible bond and conditions to issue convertible bonds ?
Question :: Shares of my Company are listed on the HOSE. The enterprise intended to increase its charter capital under the form of issuing additional shares to offer investors in 2009. Nevertheless, when the enterprise registered the dossier to increase its charter capital with the competent Planning and Investment Department, this competent authority did not accept the vote counting minutes, which collects the shareholders’ written opinion. As a result, the Planning and Investment Department requested the enterprise to supply the copy of the Minutes of the General Meeting of Shareholders of the Company. Please kindly advise how the law regulates this case?
Question :: We are a bank accepted by the State Securities Commission (SSC) to issue share to public to increase the charter capital. Under the applicable regulations, the invested capital by the Investors to purchase shares of an enterprise must deposit in an escrow bank account at a commercial bank (CB). Please kindly advise whether we are permitted to open such bank account at our bank or not?

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LEGAL NEWS

Adjustment Of Natural Resources Tax Rate

On April 14^th 2008, the Ministry of Finance issued Decision 16/2008/QD-BTC to adjust natural resources tax rates issued together with Decree 68/1998/ND-CP dated September 3 1998 guiding the implementation of the Amended Ordinance on Natural Resources Tax and Decree 147/2006/ND-CP dated December 1^st 2006 to amend and supplement Decree 68/1998/ND-CP. In this new Decision, the following tax rates are modified:

- Minerals of ferrous metals (iron, manganese, titanium, etc.): 5%, increased by 3% in comparison with previous regulations.

- Mineral sand gold: 6%, increased by 4% compared to previous regulations; and gold nuggets: 6%, increased by 3% compared to previous regulations.

- Rare earth: 8%, increased by 4% compared to previous regulations; lead, zinc, aluminum, bauxite, copper, nickel: 5%, increased by 2% compared to previous regulations

- Non-metallic minerals used as other common construction materials (stone, sand, gravel, earth for brick-making, etc.): 4%, increased by 2% compared to previous regulations.

- Natural mineral water; purified natural water, bottled or canned: 8%, increased by 4% compared to previous regulations.

Tax rates for oil and natural gas shall be applied in accordance with Articles 44 and 45 of Decree 48/2000/ND-CP dated September 12 2008.

The Decision takes effect after 15 days from the date of publication in the Official Gazette.