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:: Question :: We are a securities company (SC) which is conducting the procedures for registration of electronic transaction services at the State Securities Commission of Vietnam (the SSC). Please kindly advise the regulations on circumstances where SSC discloses confidential information on our information technology system that was invested by us with a huge investment amount, such as the compensation for damages
Answer:
Pursuant to Article 604 and 619 of the 2005 Civil Code, in case the SSC intentionally or unintentionally causes harm to the SC during the registration of the online transactions services, the SSC must compensate for damage pursuant to the civil regulation on non-contractual damages.
Please also be advised that in order to claim for damages, the SC must prove evidence expressing that the action of the SSC is unlawful activities, which have caused the actual damages to the SC.
Accordingly, the SC must list the actual damage items, request the amount of compensation and must provide valid invoices or receipt on lawful costs and expenses that the SSC caused to the SC and damaged income of the SC (Pursuant to Article 608 of the 2005 Civil Code and the Resolution No. 03/2006/NQ-HDTP dated July 08, 2006).
orther:
- » Question :: I am a foreign individual shareholder who owns a large amount of shares in several enterprises in Vietnam. Because I am not available to attend the General Meeting of Shareholders (GMS), I would like to authorize such right to my authorized representative who is Vietnamese. Please kindly advise the regulations on this procedure? (21/12/2009)
- » Question :: My company has been dealt with breach by the State Securities Commission (SSC) due to its breach of the regulation on tender offer of securities. The SSC requested the Board of Management to convene the extraordinary meeting of the GMS to inform shareholders of such breach and, concurrently, to inform shareholders of returning the money paid by them for buying securities if they request. After that, base on the request of the SSC, the Board of Management approved this decision and inform the GMS. However, at the extraordinary GMS, a member of the Board of Management supposes that the GMS has to approve this decision, instead of just informing like that. Is the opinion of the member of the Board of Management right or wrong? (02/12/2009)
- » Question :: The joint stock company of that we are the shareholders had taken place on the extraordinary meeting of the General Meeting of Shareholders (the “GMS”) on October 06, 2009. However, before the meeting was held, the website of our Company had post the Regulation on organizing the GMS. Accordingly, the Regulation was approved at the meeting of the Board of Management on September 27, 2009, and it would come into effect from October 6, 2009, at the GMS. However, in the GMS dated October 6, 2009, the organization Board did not raise the Regulation to the GMS for us to approve it. Please kindly advice whether the action of the Organization Board of this meeting is illegal or not? What could the shareholders do in this case ? (29/11/2009)
- » Question :: My father is a founding shareholder holding 20% of ordinary shares of A Joint Stock Company, which was established in 2008. In early 2009, my father passed away without a will. Please kindly advise how my father’s shares of Company A will be dealt with? Is there any regulation in the Law on Enterprises that provides the heritance of such shares? (09/11/2009)
- » Question :: We are an oversea fund management. Instead of delivering our documents from Vietnam to abroad for sealing, we would like to bring our overseas corporate seal into Vietnam to sign some contracts and documents with Vietnamese enterprises. Please kindly advice us on the related procedure? (05/11/2009)