Decision No. 140/2006/QĐ-TTg On the transfer of Da Nang Electricity to Da Nang Electricity Joint Stock Company with One Member

DECISION

Regarding the conversion of Danang Electricity to a limited liability company

with Danang Electricity Joint Stock Company

PRIME MINISTER

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

Pursuant to the State Enterprise Law on November 26, 2003;

Pursuant to the Enterprise Law on June 12, 1999;

Pursuant to the Government Decree No. 63/2001/NĐ-CP dated September 14, 2001 on the transformation of state-owned enterprises and enterprises of political organizations and political-social organizations into limited liability companies;

Pursuant to the Government Decree No. 145/2005/NĐ-CP dated November 21, 2005 amending and supplementing certain articles of Government Decree No. 63/2001/NĐ-CP;

Considering the proposal of the Board of Directors of Vietnam Electricity Corporation,

DECISION:

Article 1. Danang Electricity, a subsidiary of Electricity Company 3 under Vietnam Electricity Corporation, shall be converted into Danang Electricity Joint Stock Company.

Danang Electricity Joint Stock Company (hereinafter referred to as the Company) shall have its own seal, open accounts at domestic and foreign banks in accordance with the provisions of the law, operate according to the Charter of the Company and the Enterprise Law.

- Full name: Danang Electricity Joint Stock Company.

- Abbreviation in Vietnamese: CTĐĐN.

- International trade name: DaNang Power Company Limited.

- Abbreviation in English: DNP. - Registered charter capital: 121,000,000,000 VND.

- Head office address: No. 35 Phan Dinh Phung Street, Hai Chau District, Da Nang City

Article 2. Business sectors:

- Production and trading of electric power;

- Construction and renovation of power grid up to 110 kV;

- Repair and major overhaul of electrical equipment up to 110 kV;

- Investment consulting for construction projects of power grids up to 110 kV, including: investment project establishment, investment project management, construction survey, design, construction supervision;

- Testing and calibration of electrical equipment up to 110 kV;

- Import and export, trading of power grid materials, telecommunications equipment, and information technology;

- Agency services for public telecommunications;

- Consulting, supervising, and installation of power telecommunications networks and computer networks;

- Organizing the implementation of information technology projects;

- Training and developing human resources for power grid operation, maintenance, and telecommunications equipment;

Article 3. Organization and operation:

1. The management structure of the Company follows the model of Chairman of the Company, General Director of the Company, and supporting staff. The Vietnam Electricity Corporation Board of Directors decides on specific plans.

2. The organization and operation of the Company are specifically stipulated in the Charter of the Company's organization and operation.

Article 4. The State Council of Vietnam Electricity Corporation is the organization authorized by the State to represent the owner.

The Vietnam Electricity Corporation Board of Directors is responsible for exercising the rights of the owner's representative according to current regulations and the Company's Charter.

Article 5. Danang Electricity Joint Stock Company is responsible for receiving and effectively utilizing the capital and assets transferred by the Vietnam Electricity Corporation Board of Directors to fulfill the tasks of production development and business operations.

Article 6. The Chairman and General Director of Danang Electricity Joint Stock Company are responsible for drafting the Charter of the Company's organization and operation to submit to the Vietnam Electricity Corporation Board of Directors for approval.

Article 7. This Decision shall take effect fifteen days from the date of publication in the Official Gazette.

The Vietnam Electricity Corporation Board of Directors, the Chairman of the Company, and the General Director of Danang Electricity Joint Stock Company are responsible for implementing this Decision.