Provincial National Assembly deputies discuss the draft Law on Management and Investment of State Capital in Enterprises

Discussing the draft Law on Management and Investment of State Capital in Enterprises, Comrade Ma Thi Thuy, Member of the Provincial Party Committee, Deputy Head of the Provincial National Assembly Delegation, proposed to add a number of other prohibited acts in accordance with the spirit of Resolution No. 12-NQ/TW of the 5th Conference of the 12th Party Central Committee on continuing to restructure, innovate and improve the efficiency of state-owned enterprises, such as: taking advantage of positions and powers to intentionally violate State regulations to gain benefits from organizations and individuals assigned to represent the ownership of State capital invested in enterprises; undervaluing State assets, capital and enterprise value in violation of the law to gain benefits, causing loss of State assets and capital.

Delegate Ma Thi Thuy spoke during the discussion.

Regarding the duties, powers and responsibilities of enterprises, delegates proposed to review the regulation "Enterprises can hire independent members of the board of members and members of the board of directors" to ensure compliance with current enterprise law. According to Article 137 of the Enterprise Law 2020, independent members of the board of members and members of the board of directors are formed by the general meeting of shareholders and the board of directors and at least 20% of the members of the board of directors must be independent members to be consistent with the Enterprise Law 2020.

The delegate also proposed to adjust the ratio of the Development Investment Fund to no more than 30%; the balance of the Development Investment Fund left at the enterprise when the enterprise has no need or plan to use it will be refunded after-tax profit and distributed as dividends to the owners, the dividend will be distributed in cash corresponding to the State capital portion at the enterprise paid into the State budget.

Regarding the form of state capital investment, it is proposed to add 1 more clause to the draft Law regulating   Capital investment from the enterprise's development investment fund. Because the forms of state capital investment in Article 21 all use state budget sources or transfer ownership of assets (if any) without any content on increasing state investment capital due to the use of the enterprise's development investment fund. Along with that, add more content and implementation procedures in cases of increasing state capital due to the use of the enterprise's development investment fund; propose to add the subject of stepfather and stepmother to Clause 5, Article 43, which stipulates the standards for capital owner representatives.

Also giving comments on the draft Law on Management and Investment of State Capital in Enterprises, delegate Nguyen Viet Ha, Director of the Bank for Agriculture and Rural Development, Tuyen Quang Province Branch, said that compared to Law No. 69/2014/QH13, the subject of enterprises in which the State holds less than 50% has been removed. According to Clause 4, Article 3 of the Law on Public Investment and Chapter IV of the current Law on Enterprises, this subject of enterprises is not within the scope of application, while this is a group of enterprises that play a decisive role, vetoing important contents for the resolution of the general meeting of shareholders to be passed according to Article 148 of the Law on Enterprises 2020... Therefore, it is recommended to review and report on this content.

According to delegate Nguyen Viet Ha, the current draft Law does not have regulations to resolve conflicts between this law and related laws. It is recommended to review and stipulate principles for applying regulations in case of conflicts between this law and related laws.

Delegate Nguyen Viet Ha commented on the draft law.

Regarding the contents of decentralization and delegation of authority. According to the delegate, there should be regulations on the basic documents and procedures submitted to the National Assembly for the contents under the authority of the National Assembly, the draft currently lacks these contents. On the contrary, the draft is detailing the contents under the decision-making authority of the Government and the representative agency of the owner, such as the order and procedures for approving business strategies and annual business plans, while according to the draft, the approval of these contents is under the authority of the representative agency of the owner... these contents should be regulated in sub-law documents. Regarding the authority to decide on state capital investment in investment forms, there should be appropriate regulations consistent with other forms of investment.

Regarding the authority to arrange and restructure state capital in enterprises, delegates proposed to review the draft's provisions on arranging and restructuring capital of enterprises under the authority of the owner's representative agency. Regarding the establishment of an internal audit department, delegates said that this provision is currently contradictory, according to the draft, this content belongs to the authority of the capital owner's representative agency; but according to the provisions of the Law on Credit Institutions and the Law on Enterprises, this content belongs to the authority of enterprises...

Source: https://baotuyenquang.com.vn/dbqh-tinh-thao-luan-du-an-luat-quan-ly-va-dau-tu-von-nha-nuoc-tai-doanh-nghiep-202252.html