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

Content of the denunciation resolution

On 15 Dec 2009, the Government Inspectorate issued Circular 01/2009/TT-TTCP stipulating the process of resolving denunciations. This Circular is applicable to the State administrative body and the competent agencies, organizations, units, individuals under the State administrative body when they resolve denunciations.

Accordingly, the person in charge of resolving denunciations must accept jurisdiction of denunciations within 10 days from the date of receiving denunciations, at the same time notify the denunciating person in writing of the date of acceptance of jurisdiction and the content of denunciations to be accepted. The person in charge of resolving denunciations shall issue a written decision on verifying denunciations and set up a verification team or group which will have at least two inspectors, and the head of such team or group will be assigned to verify denunciations. The decision on verifying denunciations must be delivered to the denunciated person no later than 15 days from the date of issue.

The Circular also stipulates that in case the person in charge of resolving denunciations, or the person making decisions on verifying denunciations, or the person verifying denunciations, is not eligible for making conclusions on the extent of damages caused by illegal acts, as well as on the legality, accuracy of the documents and evidences, etc, it is required to obtain evaluations on issues by the competent agency. For complicated cases, the person making decisions on verifying denunciations shall consult with the professional bodies, the superior management authorities or other relevant organizations, bodies and individuals if it deems necessary prior to making conclusions on such denunciation.

Pursuant to this Circular, if there are any problems or difficulties arising during the course of implementation, the relevant bodies, organizations, units and individuals should immediately notify the Government Inspectorate for further guidance, amendments and additions thereof.

This Circular takes effect on 1 Feb 2010.