Decision No. 206/2006/QD-TTg Pilot Transfer of the Institute of Economic and Technical Tobacco to a Science and Technology Enterprise Operating as a State-Owned Limited Liability Company

DECISION OF THE PRIME MINISTER

Pilot transfer of the Institute of Tobacco Economic and Technical Research to become a science and technology enterprise, internal control activities under the form of a limited liability company with one member.

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PRIME MINISTER

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

Pursuant to the Enterprise Law dated November 29, 2005;

Pursuant to Decree No. 63/2001/NĐ-CP dated September 14, 2001 of the Government on converting state-owned enterprises and enterprises of political organizations and political-social organizations into limited liability companies with one member, and Decree No. 145/2005/NĐ-CP dated November 21, 2005 of the Government amending and supplementing certain articles of Decree No. 63/2001/NĐ-CP;

Pursuant to Decree No. 115/2005/NĐ-CP dated September 5, 2005 of the Government stipulating the mechanism of self-management and self-responsibility of public scientific and technological organizations;

Pursuant to Decision No. 171/2004/QĐ-TTg dated September 28, 2004 of the Prime Minister approving the project to reform the management mechanism for science and technology;

Considering the proposal of the Board of Directors of Vietnam Tobacco Corporation;

DECISION:

Article 1. Pilot transfer of the Institute of Tobacco Economic and Technical Research, which is a scientific research institution under Vietnam Tobacco Corporation, to become a science and technology enterprise operating under the form of a limited liability company with one member.

The Institute of Tobacco Economic and Technical Research shall have legal personality, its own seal, be allowed to open accounts at domestic and foreign banks in accordance with the provisions of the law, operate in accordance with the Charter of the Institute, the Enterprise Law, the Science and Technology Law, and other relevant laws.

The Institute of Tobacco Economic and Technical Research shall apply the policies of the State towards science and technology enterprises; implement the mechanism of self-management and self-responsibility regarding tasks, finance, and assets, organizational structure, and staffing of the Institute; resolve the status of surplus labor according to Decree No. 41/2002/NĐ-CP dated April 11, 2002 of the Government on policies towards surplus labor due to restructuring of state-owned enterprises and Decree No. 155/2004/NĐ-CP dated August 10, 2004 of the Government amending and supplementing certain articles of Decree No. 41/2002/NĐ-CP.

Full name: Institute of Tobacco Economic and Technical Research.

Trade name: Institute of Tobacco Economic and Technical Research.

International trade name: Tobacco Economic Technical Institute.

Abbreviation: VTL.

Registered capital: 32,000,000,000 VND (Thirty-two billion VND).

Main office: 235 Nguyen Trai Street, Thượng Đình Ward, Thanh Xuân District, Hanoi City.

Article 2. Fields of operation and business activities of the Institute of Tobacco Economic and Technical Research include: scientific research; technology transfer; analysis and quality inspection of tobacco raw materials and auxiliary materials, tobacco products; provision of scientific and technical services, training, information, international cooperation within and outside the tobacco industry; production and sale of tobacco leaves, seeds, flavorings, and auxiliary materials for tobacco, tobacco sheets, fertilizers specifically for tobacco plants; sale of packaged tobacco; production and sale of agricultural, food, and beverage products; import and export operations and other businesses as prescribed by law.

Article 3. Organization and operation:

1. The management structure of the Institute of Tobacco Economic and Technical Research includes: Chairman of the Institute, Director of the Institute, Supervisor, and supporting staff. The Chairman of the Institute is appointed and relieved of duty by the Board of Directors of Vietnam Tobacco Corporation; the Director of the Institute and the Supervisor are appointed and relieved of duty by the Chairman of the Institute after obtaining approval from the Board of Directors of Vietnam Tobacco Corporation.

2. The organization and operation of the Institute of Tobacco Economic and Technical Research are specified in the Charter of the Institute.

Article 4. The entity authorized by the State to represent the owner is the Board of Directors of Vietnam Tobacco Corporation.

The Board of Directors of Vietnam Tobacco Corporation shall be responsible for:

- Supplementing the registered capital for the Institute of Tobacco Economic and Technical Research;

- Exercising the rights of the representative owner of the Institute of Tobacco Economic and Technical Research in accordance with current regulations and the Charter of the Institute;

- Approving the Charter of the Institute of Tobacco Economic and Technical Research;

- Appointing the Chairman of the Institute.

Article 5. The Institute of Tobacco Economic and Technical Research shall be responsible for receiving and using effectively the capital and assets transferred by the Board of Directors of Vietnam Tobacco Corporation to fulfill the mission of developing production and business; inheriting all rights and obligations of the Institute of Tobacco Economic and Technical Research.

Article 6. The Chairman of the Institute of Tobacco Economic and Technical Research shall be responsible for drafting the Charter of the Institute and submitting it to the Board of Directors of Vietnam Tobacco Corporation for approval.

Article 7. This Decision shall take effect fifteen days after its publication in the Official Gazette.

The Board of Directors of Vietnam Tobacco Corporation and the Chairman of the Institute of Tobacco Economic and Technical Research shall be responsible for implementing this Decision.