Luat Viet

Advocates & Solicitors

“I don't need lawyers who win at all costs, I really need them to win, but calculate the costs.”

SUBCRIBE NEWSLETTER

Search

question and answer

Question :: I am a member of the Supervisory Commission (the Commission) of a public company which is unlisted and termed from 2007 to 2010. Until now, my term is still valid. In 2009, I was [not] invited to attend any meeting of the company’s Commission. Recently, I also did not attend the Commission’s meeting to produce the Commission’s Report for submission to the General Shareholder’s Meeting (the Meeting) year 2010 on April 9. I was informed that this Commission’s Report was built by the Commissions’ Director (the another member of the Commission also did not attend). I would like to ask you whether the operation of the Commission like that is legal or not? Is the Report mentioned above legal? What should I do to comply with the rights, duties and obligations of a Commission’s member?
Question :: I am a president of the Management Board (“the Board”) of a public company. As per regulations, the term of the Board, Supervisory Commission (“the Commission”) is five (5) years. Therefore, the first term of the Board, Commission is due on November 2010. However, in order to facilitate the voting of the Board, the Commission in the second term, the Board would like to submit the General Shareholder’s Meeting (“the Meeting”) with the latest on April 19, 2010 for renewal of the first term of the Board, the Commission until April 2011. So, the question is that is the renewal true or not? If the shareholders are not taken opinions directly at the Meeting, can the Board collect opinions indirectly from shareholders in writing? If the Meeting does not pass the renewal, how can the voting of the Board, the Commission be taken in compliance with laws?
Question :: Our company registers shares at the Securities Depository Central (SDC), but cannot deposit, of which my 10.000 shares. So, can I transfer directly 2.000 shares to my brother and compliment 2.000 shares to my wife?

Hit counter

Users online

Page loadtime

LEGAL NEWS

Sanctioning of violations in the field of environmental protection

On December 31, 2009, the Government issued Decree No. 117/2009/ND-CP on sanctioning of violations in the field of environmental protection.

This Decree regulates on (i) acts of administrative violation in the field of environmental protection, sanctioning forms, levels, competence and procedures and remedial measures; (ii) competence, consequence and procedures of application of handling method of temporary suspension of operation, forcing manufacturers and service providers polluting the environment or seriously polluting the environments to move or forbid their operation; the coercion measures, competence and procedures of application of handling method of temporary suspension of operation, force to move, forbidding operation; (iii) measures of making public information on the environmental pollution and violations of manufacturers and service providers polluting the environment or seriously polluting the environments.

For each act of administrative violation in the field of environmental protection, the violating individual or organization shall only be subject to one of the following principal sanctioning forms: (i) warning; or (ii) a fine, the maximum fine level for a single act of violation shall be VND 500,000,000, which is over 7 times higher than the maximum fine level stipulated in Decree No. 81/2006/ND-CP dated August 09, 2006 of the Government onsanctioning of administrative violations in the field of environmental protection (VND 70,000,000). Depending on the nature and seriousness of their violations, violating individuals or organizations may be subject to one or more than one of additional sanctioning forms. In additions, individuals and organizations committing administrative violations may also be subject to one or more of remedial measures.

Issued together with the Decree is the Appendix on 05 forms of Minutes and 14 forms of Decision used in the process of sanctioning of violations in the field of environmental protection.

The Decree takes effect from March 01, 2010 and replaces Decree No. 81/2006/ND-CP dated August 09, 2006 of the Government onsanctioning of administrative violations in the field of environmental protection.