Luat Viet

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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

Border commercial activities management

On December 23, 2009, the Prime Minister issued Decision no. 139/2009/QD-TTg amending and supplementing a number of articles of Decision no. 254/2006/QD-TTg dated November 07, 2006 of the Prime Minister on management of border commercial activities with countries having joint-borders.

This Decision amends regulations on border commercial activities with countries having joint-borders (“border commercial activities”). According to that, border commercial activities includes: (i) sale and purchasing, exchange of goods of border citizens; (ii) trading at border market, border gate market, markets in the border gate economic zones; (iii) cross border importation and exportation of goods in accordance with the modes agreed in the bilateral trade agreement entered into between the Socialist Republics of Vietnam and joint border countries.

The Decision makes change on the tax policy applicable to goods which are made in joint border countries imported into Vietnam in the form of sale and purchase and exchange of border citizens. Such goods shall be exempted from import duty and others tax (if any) for the value of VND2,000,000/1 person/1 day/1 time instead of VND2,000,000/1 person/1 day as stipulated in the Decision No. 254/2006/QD-TTg.

This Decision takes effect from March 01, 2010.