Decree No. 142/2007/NĐ-CP issuing the Financial Management Regulation of the Parent Company - Vietnam Oil and Gas Corporation, applicable from the fiscal year 2007. All previous regulations on financial management and accounting for business operations of the Vietnam Oil and Gas Corporation are hereby abolished.
Scope of application
Parent Company - Vietnam Oil and Gas Corporation
Key points
- Vietnam Oil and Gas Corporation → applies the new Financial Management Regulation from the fiscal year 2007 → all old regulations are abolished.
🌐 Social impact of this document
- Positive impact: Creates a clear legal basis for the financial management of Vietnam Oil and Gas Corporation, enhancing the efficiency of capital utilization.
- Negative impact: Requires time for the corporation to adapt to the new regulation, which may encounter difficulties during implementation.
❓ Frequently asked questions
From which fiscal year does the new Financial Management Regulation apply?
The new Financial Management Regulation applies from the fiscal year 2007.
What will happen to the old regulations on financial management of Vietnam Oil and Gas Corporation?
All previous regulations on financial management and accounting for business operations of the Vietnam Oil and Gas Corporation are hereby abolished.
Who is responsible for implementing this Decree?
The Chairman of the Board of Directors, General Director of Vietnam Oil and Gas Corporation, and Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen of provincial People's Committees, and municipal People's Committees directly under the Central Government are responsible for implementing this Decree.
When does this Decree take effect?
This Decree takes effect 15 days after its publication in the Official Gazette.
What is the responsibility of the Minister of Finance?
The Minister of Finance is responsible for supervising the implementation of the Financial Management Regulation of Vietnam Oil and Gas Corporation issued together with this Decree.
Full text
DECREE
ISSUING THE FINANCIAL MANAGEMENT REGULATIONS OF
THE PARENT COMPANY - VIETNAM OIL AND GAS CORPORATION
_____________________
THE GOVERNMENT
Pursuant to the Law on Organization of the Government dated December 25, 2001;
BASED ON THE STATE ENTERPRISE LAW IN 2003;
Pursuant to the Enterprise Law 2005;
BASED ON THE PETROLEUM LAW IN 1993 AND THE AMENDMENT AND SUPPLEMENTATION LAW OF CERTAIN PROVISIONS OF THE PETROLEUM LAW IN 2000;
Considering the proposal of the Minister of Finance,
DECREE :
Article 1. ATTACHED TO THIS DECREE ARE THE FINANCIAL MANAGEMENT REGULATIONS OF THE PARENT COMPANY - VIETNAM OIL AND GAS CORPORATION.
Article 2. THIS DECREE SHALL TAKE EFFECT 15 DAYS AFTER ITS PUBLICATION IN THE OFFICIAL GAZETTE AND SHALL BE APPLIED FROM THE 2007 FINANCIAL YEAR FOR THE PARENT COMPANY - VIETNAM OIL AND GAS CORPORATION.
ALL PREVIOUS PROVISIONS REGARDING FINANCIAL MANAGEMENT AND BUSINESS ACCOUNTING FOR THE VIETNAM OIL AND GAS CORPORATION ARE ABOLISHED.
Article 3. THE MINISTER OF FINANCE IS RESPONSIBLE FOR SUPERVISING THE IMPLEMENTATION OF THE FINANCIAL MANAGEMENT REGULATIONS OF THE PARENT COMPANY - VIETNAM OIL AND GAS CORPORATION ISSUED BY THIS DECREE.
Article 4. THE MINISTERS, HEADS OF GOVERNMENTAL BODIES AT THE MINISTERIAL LEVEL, HEADS OF GOVERNMENTAL BODIES UNDER THE GOVERNMENT, CHAIRMEN OF THE PEOPLE'S COMMITTEE OF PROVINCES AND MUNICIPALITIES DIRECTLY UNDER THE CENTRAL GOVERNMENT, CHAIRMAN OF THE BOARD OF MANAGEMENT, GENERAL MANAGER OF THE VIETNAM OIL AND GAS CORPORATION ARE RESPONSIBLE FOR IMPLEMENTING THIS DECREE./.
PRIME MINISTER
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