Decision No. 19/2005/QD-BCN On the transfer of Thac Ba Hydropower Plant to become an independent accounting subsidiary company under Vietnam Electricity Corporation

Pursuant to …;

Regarding the conversion of Thac Ba Hydropower Plant into a subsidiary company with independent accounting

under Vietnam Electricity Corporation

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decree No. 180/2004/NĐ-CP dated October 28, 2004 of the Government on the establishment, restructuring, and dissolution of state-owned enterprises;

Pursuant to Decision No. 12/2005/QĐ-TTg dated January 13, 2005 of the Prime Minister approving the supplementary restructuring and modernization plan for state-owned enterprises under Vietnam Electricity Corporation until 2005;

Considering the proposal of the Board of Directors of Vietnam Electricity Corporation at Report No. 115/TTr-EVN-HĐQT dated March 24, 2005 on the conversion of Thac Ba Hydropower Plant into an independent accounting subsidiary company;

At the suggestion of the Director of the Department of Organization and Cadres,

DECISION:

Article 1. Convert Thac Ba Hydropower Plant, a dependent accounting unit, into Thac Ba Hydropower Company, an independent accounting subsidiary unit of Vietnam Electricity Corporation.

1. Business name: Thac Ba Hydropower Company;

International trade name: Thac Ba Hydro Power Company;

Abbreviation: TBHPC;

2. The headquarters of the Company is located in Thac Ba Town, Yen Binh District, Yen Bai Province;

3. Thac Ba Hydropower Company shall have legal personality, operate an independent economic accounting system, be entitled to use its seal, open bank accounts, and establish credit relationships with domestic and foreign banks in accordance with the law.

Article 2.

1. Business activities of the company:

- Production and trading of electric power;

- Managing, operating, repairing, overhauling, reconstructing, testing, and calibrating electrical equipment, hydraulic works, and architectural structures of the hydropower plant;

- Training and development of human resources for management, operation, maintenance, and repair of power plant equipment;

- Purchasing, selling, importing, and exporting materials and equipment;

- Operating inland waterway transportation;

- Project investment construction planning, project investment construction management, and construction supervision consultancy;

- Engaging in other businesses in accordance with the provisions of the law.

2. The Charter Capital of the Company as of December 31, 2004 is: 14,700,000,000 VND (Fourteen billion seven hundred million VND).

Article 3. The organizational structure of the company includes:

1. General Director,

2. Deputy General Directors,

3. Chief Accountant,

4. Technical and operational departments,

5. Operation and repair workshops.

Article 4. Thac Ba Hydropower Company is responsible for completing all business registration procedures and operating in accordance with the Company's Charter approved by the Board of Directors of Vietnam Electricity Corporation, in compliance with the Law on State-Owned Enterprises and other relevant laws.

Article 5. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Director of the Ministry's Office, the Inspector General of the Ministry, Heads of Departments and Bureaus under the Ministry, Chairman of the Board of Directors and General Director of Vietnam Electricity Corporation, Director of Thac Ba Hydropower Company are responsible for implementing this Decision./.