Circular No. 10/2013/TT-BTC guides the management and use mechanism of the Enterprise Restructuring Support Fund at State-owned Corporations of Economic Groups, State-owned Joint Stock Companies.

CIRCULAR

Guidelines for the management and use of the Enterprise Restructuring Support Fund at parent companies of state-owned economic groups and corporations, and parent companies in conglomerates of parent-child companies Parent company in a parent-subsidiary corporate group

Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 109/2008/NĐ-CP dated October 10, 2008 of the Government on the sale and transfer of wholly state-owned enterprises;

Pursuant to Decree No. 25/2010/NĐ-CP dated March 19, 2010 of the Government on the conversion of state-owned companies into limited liability companies with one member and the organization of management of limited liability companies with one member owned by the state;

Pursuant to Decree No. 91/2010/NĐ-CP dated August 20, 2010 of the Government on policies for surplus labor when restructuring state-owned limited liability companies with one member;

Pursuant to Decree No. 89/2013/NĐ-CP dated August 6, 2013 of the Government detailing implementation of certain provisions of the Price Law on appraisal;

Pursuant to Decision No. 21/2012/QĐ-TTg dated May 10, 2012 of the Prime Minister on the issuance of regulations on the management and use of the Enterprise Restructuring and Development Support Fund;

The Minister of Finance hereby issues this Circular amending and supplementing certain Articles of Circular No. 133/2015/TT-BTC dated August 31, 2015, issued by the Minister of Finance guiding the financial management mechanism for the Vietnam Chamber of Commerce and Industry (hereinafter referred to as Circular No. 133/2015/TT-BTC).

The Minister of Finance issues this Circular guiding the mechanism for the management and use of the Enterprise Restructuring Support Fund at parent companies of state-owned economic groups and corporations, and parent companies in conglomerates of parent-child companies.

Chapter 1
GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular guides the mechanism for the management and use of the Enterprise Restructuring Support Fund at wholly state-owned limited liability companies that are parent companies of state-owned economic groups and corporations, and parent companies in conglomerates of parent-child companies (hereinafter referred to as the Fund).

Parent companies operating under the parent-child company model and wholly state-owned limited liability companies invested in entirely by state-owned economic groups and corporations shall not establish a Fund as prescribed in this Circular.

Article 2. Applicability

1. Wholly state-owned limited liability companies that are parent companies of state-owned economic groups and corporations, and parent companies in conglomerates of parent-child companies (hereinafter referred to as the Fund management agency).

2. Enterprises with sources of income required to be remitted to the Fund as prescribed in this Circular.

3. Organizations and enterprises eligible for support from the Fund as prescribed in this Circular.

4. Other organizations and individuals related to the management and use of the Fund as prescribed in this Circular.

Article 3. General Principles for the Management and Use of the Fund

1. The Fund management agency must open a separate account and organize clear, complete, and timely accounting of all revenues and expenditures of the Fund.

2. Revenues from shareholding and selling enterprises used to address policies for surplus labor and financial issues according to the regulations applicable to each type of enterprise restructuring at enterprises fully invested in by groups and corporations are considered revenues and expenditures of the Fund.

3. Depositing Fund money in commercial banks must meet the following conditions:

a) Ensuring the safety of the Fund's deposits in commercial banks. Commercial banks selected to open accounts for the Fund's deposits are those with a safe ratio of operations according to current laws.

b) Ensuring prompt availability to meet the Fund's expenditure needs as decided by authorized agencies.

Article 4. Sources of Revenue for the Fund

1. Revenue from the equitization of enterprises under Groups, Corporations, and Parent Companies in accordance with the laws on converting wholly state-owned enterprises into joint-stock companies.

2. Revenue from other forms of restructuring and conversion such as transferring, selling, dissolving, or bankruptcy of enterprises under Groups, Corporations, and Parent Companies as prescribed by current laws.

3. Financial support funds from the Enterprise Restructuring and Development Support Fund (issued together with Decision No. 21/2012/QĐ-TTg dated May 10, 2012 of the Prime Minister) as decided by the competent authority.

4. Interest income from deposits of the Fund at commercial banks.

5. Late payment penalties as stipulated in Clause 1, Article 7 of this Circular.

6. The amount of subsidies received by redundant workers from the Fund that must be returned when they are re-employed according to the provisions of the law.

7. Other revenues as prescribed by law.

Article 5. Contents of Expenditure for the Fund

1. Supporting enterprises under Groups, Corporations, and Parent Companies to implement restructuring and ownership conversion to address policies for redundant labor and financial issues as prescribed by law.

2. Supplementing the registered capital of parent companies of economic groups, state corporations, and wholly state-owned enterprises according to the decision of the Prime Minister based on the proposal of the Ministry of Finance.

3. Transferring to the Enterprise Restructuring and Development Support Fund according to the decision of the Prime Minister.

4. Investing in developing enterprises according to the decision of the Prime Minister based on the proposal of the Ministry of Finance.

5. Other expenditures as decided by the Prime Minister.

Chapter 2
SPECIFIC PROVISIONS

PART 1
MANAGEMENT OF REVENUE SOURCES

Article 6. Time Limit for Payment to the Fund

1. For revenues as prescribed in Clauses 1 and 2 of Article 4 of this Circular, enterprises have the responsibility to timely and fully pay to the Fund within the time limit prescribed by the laws on ownership conversion.

Determination of revenue from equitization as prescribed in Clause 1 of Article 4 of this Circular shall be carried out in accordance with the laws on converting wholly state-owned enterprises into joint-stock companies, specifically as follows:

a) Determining the amount of revenue from the first sale of shares to be paid to the Fund

Upon completion of the first share sale process, based on the actual revenue from the first share sale and the retained amount according to the approved equitization plan, the Equitization Steering Committee will determine the amount of revenue from the sale of shares to be paid to the Fund in accordance with the prescribed time limit.

b) Determining the amount of revenue from equitization at the time the enterprise officially becomes a joint-stock company to be paid to the Fund

- Based on the financial statements at the time the enterprise receives its first business registration certificate operating as a joint-stock company and the guidance on financial handling at the time the enterprise officially becomes a joint-stock company, the enterprise has the responsibility to self-determine the difference between the actual value of the state capital at the time the enterprise officially becomes a joint-stock company and the value of the state capital at the valuation time. Within 45 working days from the date of receiving the first business registration certificate, the enterprise must temporarily pay the determined increase to the Fund.

- Based on the result of the revaluation of the state capital value at the time of business registration by the competent authority, within five working days from the date of the competent authority's decision, the enterprise has the responsibility to pay the additional increase compared to the previously determined amount (if any) to the Fund.

- In case the amount to be paid to the Fund determined by the revaluation of the state capital value at the time of business registration by the competent authority is lower than the amount self-determined and already paid by the enterprise, the enterprise shall send a letter to the Fund management agency requesting the refund of the excess amount paid to the Fund.

Based on the enterprise's request and related documents (proof of the amount the enterprise has paid to the Fund; the decision approving the settlement revaluation of the state capital value at the time of business registration by the competent authority), the Fund management agency decides to issue the Enterprise Restructuring Support Fund to refund the excess amount paid by the enterprise to the Fund within five working days.

c) If, based on the financial statements at the time the enterprise receives its first business registration certificate operating as a joint-stock company, the enterprise determines a decrease in the actual value of the state capital at the time the enterprise officially becomes a joint-stock company compared to the value of the state capital at the valuation time, the enterprise shall proactively report to the competent authority for consideration and handling of the decrease in the state capital value at the time the enterprise officially becomes a joint-stock company according to the regulations.

2. For the remaining revenues, enterprises have the responsibility to pay the revenues to the Fund no later than five working days from the due date of the revenues as prescribed.

3. Representatives of the equity contribution of Groups, Corporations, and Parent Companies have the responsibility to urge enterprises to timely and fully pay to the Fund as prescribed in this Circular.

Article 7. Sanctions for late payment to the Fund

1. The provisions below shall apply to cases where enterprises pay amounts to the Fund after the deadline specified in Article 6 of this Circular:

a) In case of delay within three months, the enterprise must bear additional interest calculated at the basic interest rate published by the State Bank of Vietnam at the nearest time point for the amount and period of delay.

After the three-month period, the enterprise must bear additional interest calculated at the overdue loan interest rate for the amount delayed beyond three months. The overdue loan interest rate for the amount delayed beyond three months is determined at 150% of the basic interest rate published by the State Bank of Vietnam at the nearest time point to the date when the overdue interest accrues.

b) Enterprises that fail to fully and timely pay amounts to the Fund as stipulated in Article 6 shall have their management boards deemed to be non-compliant with their duties and shall be held responsible according to current laws.

If the parent company's management board of economic groups, state-owned corporations, or holding companies in a holding company-subcompany structure (Board of Members, Chairman of the Company, General Director's Board, Supervisor) fails to inspect, urge, take measures to ensure full and timely payments and report as required, they shall be deemed to be non-compliant with their duties and shall be held responsible according to the current regulations on supervision and classification of enterprises.

2. Late payment penalties as stipulated in Clause 1 of this Article shall not be considered reasonable expenses when calculating corporate income tax; enterprises may only use post-tax profits to cover these penalties after deducting compensation and responsibility handling costs for the Board of Members, Board of Directors, and related collectives and individuals involved in the delay (if applicable).

PART 2
SUPPORT FOR POLICY RESOLUTION OF SURPLUS LABOR

Article 8. Eligible Recipients

1. Workers who lose their jobs or voluntarily resign in accordance with the Labor Code (hereinafter referred to as surplus workers) at wholly state-owned limited liability companies undergoing restructuring or conversion under the legal policies for surplus labor.

2. Positions of members of the Board of Members, Chairman of the Company, General Director, Deputy General Director, Director, Deputy Director, Chief Accountant, Supervisor in wholly state-owned limited liability companies undergoing restructuring or conversion under the legal policies for surplus labor.

Article 9. Principles of Support

1. For enterprises undergoing shareholding reform or sale: The Fund will only provide support for the shortfall in funds needed to resolve policies for surplus labor if the proceeds from shareholding reform or sale as prescribed by law are insufficient.

2. For enterprises undergoing dissolution or bankruptcy: The Fund will only provide support if the proceeds from dissolution or bankruptcy as prescribed by law are insufficient to resolve policies for surplus labor.

Article 10. Documents for requesting financial support for surplus labor

1. For a Limited Liability Company with one member owned by a Group, Corporation, or parent company that implements dissolution or bankruptcy, the documents include:

a) A request for financial support to resolve policies for surplus labor at the enterprise. The request must clearly state the name of the requesting unit, the unit authorized to receive funds for resolving policies for surplus labor, the account number and bank where transactions are conducted, and the total amount of requested support.

b) Court decision on initiating bankruptcy proceedings; decision on dissolving the enterprise by the competent authority (Original or certified copy).

c) Budget for resolving policies for surplus labor approved by the competent authority (Original).

d) Report on revenue from enterprise dissolution and bankruptcy used to resolve policies for surplus labor and the remaining amount of funds required, requesting support from the Enterprise Restructuring Support Fund (Original).

2. For a Limited Liability Company with one member owned by a Group, Corporation, or parent company that implements restructuring or other ownership changes outside the forms mentioned in Clause 1 of this Article, the documents include:

a) A request for financial support to resolve policies for surplus labor at the enterprise. The request must clearly state the name of the unit, the account number and bank where transactions are conducted, the total amount of internal funds at the enterprise used to resolve policies for surplus labor, and the total amount of requested support from the Fund.

b) Plan for reorganizing labor and training (accompanied by a list of regular employees at the time of the decision to restructure or change ownership, and a list of employees receiving assistance and training), approved by the competent authority (Original).

c) Budget for resolving policies for surplus labor approved by the competent authority (Original):

- Budget for surplus labor according to current laws and guidelines of the Ministry of Labor, Invalids, and Social Affairs.

- Budget for surplus labor in specific positions according to current laws and guidelines of the Ministry of Home Affairs.

d) Report on revenue from corporate shareholding, selling the enterprise to resolve policies for surplus labor, accompanied by a report on finalizing costs of corporate shareholding and selling the enterprise; confirmation of revenue from corporate shareholding and selling the enterprise by the competent authority (Original or certified copy).

đ) Decision approving the plan for reorganizing and changing ownership by the competent authority (Original or certified copy).

e) Financial settlement report for the year immediately preceding the year of restructuring.

Article 11. Procedure for preparing, reviewing, and approving documents

1. The enterprise is responsible for fully preparing the documents as stipulated in Article 10 of this Circular and reporting to the competent authority for approval.

2. Before submitting the documents to the competent authority for approval, the enterprise must publicly post the list of surplus labor and the budget for paying benefits to surplus labor determined according to regulations for five working days for employees to check and verify.

3. Deadline for submitting documents to the Fund

a) Not exceeding 90 days from the date the competent authority approves the restructuring and ownership change plans for enterprises implementing the forms of transferring to a 100% state-owned limited liability company, dissolution, bankruptcy, merger, consolidation, or conversion to a revenue-generating public service unit.

b) Not exceeding 60 days from the date the enterprise receives the business registration certificate under the Law on Enterprises for cases where the enterprise implements shareholding, selling the enterprise with revenue from shareholding and selling the enterprise insufficient to cover the surplus labor expenses.

c) Documents submitted after the deadlines specified in points a and b of Clause 3 of this Article will not be considered or processed if there are no objective or force majeure reasons. In cases due to objective or force majeure reasons, confirmation from the competent authority is required.

4. If the company has completed the transformation and registered for business under a new legal entity without having received funding, the company (new legal entity) is responsible for promptly notifying the Fund in writing of the new company name and account number.

5. Within 15 days from the date of receiving all documents, the Fund management agency is responsible for reviewing and issuing a decision to disburse the Fund to provide financial support to the enterprise. If the documents do not meet the requirements stipulated or contain calculation errors, the Fund management agency will notify the enterprise in writing within five working days from the date of receiving all documents to complete the documents.

6. If the Fund does not have sufficient resources to support affiliated enterprises implementing restructuring and resolving policies for surplus labor, the Fund management agency shall prepare documents to submit to the Ministry of Finance for consolidation and reporting to the Prime Minister to decide on reallocating funds from the Enterprise Restructuring and Development Support Fund according to Article 11 of the Management and Use Regulations of the Enterprise Restructuring and Development Support Fund issued together with Decision No. 21/2012/QĐ-TTg dated May 10, 2012 of the Prime Minister.

Article 12. Payment Organization

After receiving funds from the Fund, the enterprise shall be responsible for:

1. Publicly posting at the company the amount of funds each employee is entitled to for a minimum period of three working days.

2. Completing the payment of assistance to surplus employees within fifteen days from the date the enterprise receives the funds.

3. The payment must be made to the correct recipients, in the correct amounts, and according to the approved list. When making payments, the enterprise must prepare a list of employees receiving assistance according to Model No. 1 attached to this Circular. Employees, authorized representatives, or estate managers under the Civil Code must sign for the assistance on the payment voucher and the list.

Article 13. Final Report on Fund Utilization

1. For the funds allocated to enterprises under economic groups, state-owned corporations, and parent companies in holding structures:

a) Within forty-five days from the receipt of funds, the enterprise shall be responsible for making payments and preparing a final report on fund utilization to be submitted to the agency approving the labor restructuring plan for approval, including:

- A list of employees receiving assistance (Model No. 1 attached to this Circular);

- A report on the use of funds allocated from the Fund (Model No. 2 attached to this Circular);

- A report on the results of implementing labor restructuring as prescribed.

b) Within sixty days from the receipt of funds, the enterprise must submit the approved final report to the Fund (original copy) and bear legal responsibility for the accuracy and truthfulness of the data in the final report;

c) Any remaining funds after paying employees (if any) must be returned to the Fund along with the preparation and submission of the aforementioned final report on fund utilization.

2. For the funds allocated to social insurance agencies: within thirty days from the receipt of funds, the social insurance agency must prepare a report on the use of funds (Model No. 3 attached to this Circular) and submit it to the Fund.

3. If the entity receiving the funds fails to submit the final report on the support funds within the timeframes specified in Clause 1 and Clause 2 of this Article, it must provide a written explanation of the reasons and complete the submission of the report to the Fund within thirty days from the deadline for submitting the report as prescribed.

If the enterprise still does not submit the final report on the funds after the above period, the Fund management agency shall be responsible for enforcing collection and recovering the supported funds.

Section 3
SUPPORT FOR TRAINING FUNDS FOR SURPLUS LABOR

Article 14. Beneficiaries

Vocational training institutions listed in the notification of the competent state agency on labor in provinces and centrally-administered cities shall implement support for vocational training for surplus workers at enterprises undergoing restructuring and conversion according to the prescribed regulations.

Article 15. Preparation and Review of Application for Training Funds

1. After completing vocational training for surplus workers at enterprises, vocational training institutions for surplus workers shall prepare and submit a request for payment of training funds (Model No. 4 attached to this Circular), accompanied by free training certificates (originals) and copies of decisions to terminate employment of surplus workers undergoing training at the training institution to the Department of Labor, Invalids, and Social Affairs and the Department of Finance where the vocational training institution is located for review and comments. The vocational training institution is responsible for the truthfulness and accuracy in the request for payment of training funds.

2. The Department of Labor, Invalids, and Social Affairs is responsible for supervising and reviewing the actual number of surplus workers trained at vocational training institutions and the duration of vocational training (maximum six months).

3. The Department of Finance is responsible for reviewing the actual expenditure on training and the requested training fund amount for the Fund to settle.

Article 16. Procedures for Drawing from the Fund

1. The application for funding from training institutions shall be submitted to the Fund management agency for review and issuance of a decision to draw from the Fund.

2. Within fifteen days from the date of receipt of complete files sent by the training institution, the Fund management agency shall issue a decision to draw from the Fund and implement the provision of funds to the beneficiary unit; at the same time, send the decision to related units such as the Department of Labor, Invalids and Social Affairs, the Department of Finance where the training institution is headquartered. In cases where the file does not meet the requirements stipulated, within five working days from the date of receipt of the file, the Fund management agency shall notify in writing the training institution, the Department of Labor, Invalids and Social Affairs, and the Department of Finance to complete the file.

Section 4
ADDITIONAL CAPITALIZATION OF THE REGULATORY CAPITAL AND TRANSFER TO THE ENTERPRISE RESTRUCTURING AND DEVELOPMENT SUPPORT FUND

Article 17. Principles for Additional Capitalization of Regulatory Capital

1. The applicable subjects are wholly state-owned limited liability companies with 100% regulatory capital that are parent companies of economic groups, state-owned corporations, and parent companies in combined parent-child company structures which have large fund balances and have not been adequately invested in regulatory capital according to approved plans by competent authorities.

2. The use of the Fund to supplement regulatory capital can only be implemented after ensuring sufficient financial support for enterprises under the group, corporation, or parent company to carry out restructuring, ownership conversion, and address surplus labor policies and financial issues in accordance with the law.

3. Enterprises requiring additional capital must prepare a report to submit to the owner, simultaneously sending it to the Ministry of Finance for review, consolidation, and reporting to the Prime Minister for consideration and decision.

4. After receiving approval from the Prime Minister, the Fund management agency shall implement accounting entries and transfer the Fund source to supplement the owner's investment capital in the enterprise according to the guidelines of the Ministry of Finance.

Article 18. Transfer to the Enterprise Restructuring and Development Support Fund

The transfer of the Fund shall comply with the principles and procedures specified in Articles 23 and 24 of the Regulation on Management and Use of the Enterprise Restructuring and Development Support Fund issued together with Decision No. 21/2012/QĐ-TTg dated May 10, 2012 of the Prime Minister and the guidance of the Ministry of Finance in Circular No. 184/2012/TT-BTC dated October 25, 2012.

Section 5
ACCOUNTING FOR THE FUND AND FINAL AUDIT REPORTS

Article 19. Accounting for the Fund

1. The Fund management agency is responsible for opening separate accounts to monitor the Fund's income and expenditures; maintaining accounting books, clearly, fully, and promptly recording all income and expenditure transactions; organizing the storage of files and vouchers in accordance with the law.

2. The balance of the enterprise restructuring support fund established by Decision No. 09/2008/QĐ-BTC dated January 31, 2008 of the Ministry of Finance at economic groups, corporations, and parent companies shall continue to be monitored and transferred for management and use in accordance with this Circular.

3. The balance of the enterprise restructuring support fund at parent companies that are total corporations or wholly state-owned limited liability companies operating under the parent-child company model established by Decision No. 09/2008/QĐ-BTC dated January 31, 2008 of the Ministry of Finance shall be transferred to the enterprise restructuring support fund at economic groups, corporations, and parent companies for management and use in accordance with this Circular.

Article 20. Report on the Fund

1. Quarterly (within thirty days from the end of each quarter) or upon request by the Ministry of Finance, parent companies of economic groups, state-owned corporations, and parent companies in conglomerates of parent-child companies shall be responsible for compiling and reporting to the representative of the State owner and the Ministry of Finance on the management and use of the Fund.

2. At the end of the fiscal year, within forty-five days, parent companies of economic groups, state-owned corporations, and parent companies in conglomerates of parent-child companies must submit the final report on the Fund to the State owner's representative agency of the enterprise and the Ministry of Finance. The final report on the Fund must fully and truthfully reflect data on income and expenditure; outstanding receivables and payables, and remaining issues in the management of the Fund, accompanied by confirmation of the Fund balance from the commercial bank where the Fund has an account.

In case of failure to report fully and timely as prescribed, the leadership board of parent companies of economic groups, state-owned corporations, and parent companies in conglomerates of parent-child companies (Board of Members, Chairman of the company, Board of Directors) shall be deemed to have not fulfilled their tasks and shall bear responsibility according to the current regulations on supervision and classification of enterprises.

Article 21. Retention of Documentation

The Fund management agency, enterprises, social insurance agencies, vocational training institutions receiving funds from the Fund shall be responsible for preserving and storing books, vouchers, and relevant documents related to the Fund's income and expenditure activities in accordance with current accounting regulations to serve the inspection and supervision work of the Ministry of Finance, the Fund management agency, and related agencies.

Chapter 3
IMPLEMENTATION

Article 22. Responsibilities of the Ministry of Finance; Ministries managing sectors, agencies equivalent to ministries, provincial People's Committees under the Central Government

1. Responsibilities of the Ministry of Finance:

a) Implement state management functions over the operations of the Fund.

b) Compile and report to the Prime Minister on the use of the Fund to supplement the charter capital of economic groups, state-owned corporations, and parent companies operating under the parent-child company model; implement the regulation of the Fund sources at economic groups, state-owned corporations, and parent companies to the Enterprise Restructuring and Development Support Fund as prescribed.

c) Coordinate with ministries and provincial people's committees to inspect and audit the management and use of the Fund; compile and report the final income and expenditure of the Fund to the Prime Minister.

d) Guide the accounting of income and expenditures of the enterprise restructuring support fund.

2. Responsibilities of ministries and provincial people's committees:

a) Inspect and supervise the management and use of the Fund; urge economic groups, state-owned corporations, and parent companies to comply with the final report on the Fund as stipulated in this Circular.

b) Coordinate with the Ministry of Finance to inspect, audit, and supervise the management and use of the Fund at economic groups, state-owned corporations, and parent companies.

Article 23. Responsibilities of Economic Groups, State-Owned Corporations, Parent Companies, and Related Organizations and Individuals

1. Parent companies of economic groups, state-owned corporations, and parent companies in conglomerates of parent-child companies.

a) Organize the management and use of Fund sources in accordance with the provisions of this Circular.

b) Review and bear legal responsibility for the data in the application for labor surplus support; inspect and supervise the implementation of policies for surplus labor at enterprises undergoing restructuring and ownership conversion in accordance with the law.

c) Inspect, supervise, and urge enterprises to submit the final report on labor surplus expenses and proceeds from privatization in a timely manner as prescribed.

d) Compile and report promptly and comprehensively on the management and use of the Fund in accordance with the contents of this Circular.

đ) Comply with the decision on Fund regulation by the competent authority as prescribed.

e) The leadership boards of economic groups, state-owned corporations, and parent companies shall be responsible for managing and supervising the use of the Fund, ensuring compliance with the Fund's objectives and plans, and regularly reporting on the Fund's activities.

2. Enterprises implementing privatization and diversification of ownership:

a) Finalize accounts of income and expenditure to determine the amount to be paid into the Fund as prescribed.

b) Pay the full amount of income (including late payment interest if applicable) into the Fund within the prescribed time.

3. Enterprises receiving financial support.

Enterprises receiving financial support to resolve employee surplus benefits due to business restructuring shall be legally responsible for the accuracy and honesty of the data when determining benefit payments to employees according to current regulations; fully settle proceeds from privatization and selling the enterprise (in cases of privatization and selling the enterprise) to pay redundancy benefits to surplus employees at the time of business restructuring; implement payment of surplus employee expenses, prepare a final report on the use of funds; retain complete records and vouchers as required; and be subject to inspection and supervision by the Ministry of Finance and related agencies.

4. Surplus employees re-employed and re-employment units

Surplus employees who have received benefits from the Fund and are re-employed must return the entire or part of the benefit amount they received according to regulations. The employment unit has the responsibility to recover the benefit amount that the employee repays and deposit it into the Fund's account immediately after signing the labor contract.

The re-employment unit and the re-employed employee shall be legally responsible if they violate the provisions of this Article.

Article 24. Effective Date

This Circular takes effect from March 10, 2013, and replaces the Management and Use Regulations of the Enterprise Restructuring Support Fund issued together with Decision No. 09/2008/QĐ-BTC dated January 31, 2008, of the Ministry of Finance.

During the implementation process, if there are difficulties or obstacles, units are requested to promptly reflect them to the Ministry of Finance for guidance on handling./.