Decision No. 100/2006/QĐ-TTg On approving the Project to transfer the Eastern Seafood Corporation to operate under the holding company - subsidiary model

Pursuant to …;

Regarding the approval of the Project to transfer the Eastern Sea Fisheries Corporation to operate under the holding company - subsidiary model

Operating under the holding company - subsidiary model

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PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the State Enterprise Law No. 14/2003/QH11 dated November 26, 2003;

Pursuant to the Enterprise Law No. 13/1999/QH10 dated June 12, 1999;

Pursuant to the Government Decree No. 153/2004/NĐ-CP dated August 9, 2004 on the organization and management of state-owned holding companies and the transformation of state-owned holding companies and independent state-owned companies into the holding company - subsidiary model;

Considering the proposal of the Minister of Fisheries.

Pursuant to …;

Article 1. Approves the Project to transfer the Eastern Sea Fisheries Corporation under the Ministry of Fisheries to operate under the holding company - subsidiary model as follows:

1. The holding company - Eastern Sea Fisheries Corporation is a state-owned enterprise with legal personality, its own seal, and accounts at the State Treasury and banks; it directly carries out production and business activities and invests capital in subsidiaries and associated companies; it is responsible for preserving and developing the state's capital in the corporation and in subsidiaries and associated companies.

The holding company is a state-owned enterprise formed based on restructuring the Office of the Eastern Sea Fisheries Corporation and dependent units.

The management structure of the holding company includes: Board of Directors, Supervisory Board, General Director, Deputy General Directors, and supporting staff.

2. Subsidiaries and associated companies: have legal personality, their own assets, names, management structures, and bear civil liability within the scope of the enterprise's assets; they are organized and operate according to the relevant legal provisions corresponding to the form of subsidiaries and associated companies.

3. The charter capital structure, industries, and business operations of the holding company and subsidiaries and associated companies; the organization and management of the holding company; the relationship between the holding company and the state owner and subsidiaries and associated companies are stipulated in the Charter of the holding company's organization and operation.

4. The holding company is responsible for succeeding the legal rights and obligations of the Eastern Sea Fisheries Corporation.

5. The roadmap for restructuring and transferring the Eastern Sea Fisheries Corporation to operate under the holding company - subsidiary model is attached as Appendix.

Article 2.

1. Entrust the Minister of Fisheries:

- To direct the implementation of this Project.

- To decide on the establishment of the holding company; to form subsidiaries and associated companies as specified in Clause 1 and Clause 2 of Article 1 of this Decision in accordance with current regulations.

- To direct the Eastern Sea Fisheries Corporation to carry out bankruptcy procedures for the four enterprises listed in Section III of the attached Appendix.

- To approve the Charter of the holding company's organization and operation.

2. The Minister of Finance approves the financial management regulations of the holding company.

Article 3. This Decision takes effect 15 days from the date of publication in the Official Gazette.

The Ministers of Fisheries, Finance, Planning and Investment, Home Affairs, Labor, Invalids and Social Affairs, Governor of the State Bank of Vietnam, and heads of related agencies are responsible for implementing this Decision./.