Decision No. 27/2004/QD-BTC on the functions, tasks, powers, and organizational structure of the Corporate Finance Department

DECISION OF THE MINISTER OF FINANCE

Regulations on the functions, tasks, powers, and organizational structure of the Department of Corporate Finance

The Department of Corporate Finance is a unit under the Ministry of Finance, assisting the Minister of Finance in performing state management functions over corporate finance within all economic sectors nationwide; implementing rights and obligations of the State's representative owner regarding the State's capital at enterprises according to the division, delegation, and authorization of the Minister of Finance.

THE MINISTER OF FINANCE

Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies;

Pursuant to Decree No. 77/2003/ND-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Considering the proposal of the Director of the Department of Corporate Finance, the Head of the Cadre and Civil Servant Organization Department,

DECISION:

Article 1. The Department of Corporate Finance has the following tasks:

Article 2. 1 - Regarding state management of corporate finance:

1.1 - Drafting regulations on corporate finance for submission to the Minister of Finance; mechanisms for financial supervision of corporate finance; financial management systems for state-owned enterprises; systems for managing and using state investment capital in enterprises; financial support systems for enterprises; policies and systems on cooperative society finance and other financial policies and systems for enterprises as prescribed by law and assigned by the Minister of Finance.

1.2 - Participating in drafting other regulatory documents, mechanisms, and policies related to corporate finance prepared by other Ministries or agencies at the central level (hereinafter referred to as Ministries) or other units under the Ministry._­.

1.3 - Guiding and inspecting enterprises in the implementation of regulatory documents on corporate finance and the management of state capital at enterprises.

1.4 - Summarizing and evaluating the financial situation of enterprises, the preservation and development of enterprise capital; forecasting and proposing financial solutions to enhance efficiency and competitiveness, integration of enterprises; evaluating the effectiveness of budget spending on enterprises.

2 - Regarding the performance of certain tasks of the State's representative owner of state capital at enterprises:

2.1 - Appraising the need, submitting to competent authorities for decisions on investment capital to establish state-owned enterprises, additional investment capital for state-owned enterprises; coordinating with Ministries, People's Committees of provinces and centrally-administered cities (hereinafter referred to as provincial People's Committees), state-owned holding companies to determine the registered capital of subordinate state-owned enterprises; allocating capital to state-owned enterprises under Ministries according to the authorization of the Minister of Finance.

2.2 - Appraising and submitting to the Minister of Finance for issuance of financial regulations for state-owned holding companies and parent-child companies as prescribed.

2.3 - Allocating state budget funds to support enterprises, funds for national reserve goods management, funds for certain public utility products and services, defense, and security, and supervising the use of these funds according to the regulations of the Minister of Finance.

2.4 - Organizing the implementation of financial monitoring regulations and assessing the operational effectiveness of state-owned enterprises.

2.5 - Participating in opinions on planning and strategic development of state-owned holding companies and key state-owned enterprises; participating in drafting charters of state-owned holding companies and key state-owned enterprises according to the assignment of the Minister of Finance.

Participating in building wage policies for state-owned enterprises; participating in setting product prices for those products and goods priced by the State.

2.6 - Statistics, summarizing, analyzing, and evaluating the financial situation of state-owned enterprises, the preservation and development of state capital at enterprises.

2.7 - Summarizing the implementation of tasks by agencies entrusted with the rights and obligations of the State's representative owner regarding state capital at enterprises according to the provisions of law.

Participating in evaluating the operation and management of state-owned enterprises by the Board of Directors and General Manager of state-owned enterprises according to the regulations of the Government and the assignment of the Minister of Finance.

Organizing inspections and supervision of the management and use of capital, income distribution, establishment and use of funds of state-owned enterprises.

2.9 - Implementing legal provisions on the tasks and powers of the State's representative owner regarding enterprises under the Ministry of Finance according to the regulations of the Minister of Finance.

3 - Performing tasks related to the restructuring and conversion of state-owned enterprises.

3.1 - Drafting regulations on the restructuring, ownership conversion, dissolution, and bankruptcy of state-owned enterprises for submission to the Minister of Finance.

3.2 - Guiding, inspecting, and supervising the implementation of regulations on the restructuring, ownership conversion, dissolution, and bankruptcy of state-owned enterprises.

3.3 - Participating in opinions on plans for the restructuring and conversion of state-owned enterprises of Ministries, state-owned holding companies, and provincial People's Committees.

3.4 - Appraising and proposing solutions, reporting to the Minister of Finance for decisions on financial issues exceeding the authority of Ministries and state-owned holding companies to implement the restructuring, ownership conversion, dissolution, and bankruptcy of state-owned enterprises.

3.5 - Directing and guiding provinces and centrally-administered cities in financial matters related to the restructuring and conversion of state-owned enterprises.

3.6 - Summarizing the implementation of restructuring and conversion tasks of state-owned enterprises by Ministries, state-owned holding companies, and provincial People's Committees.

4 - Regarding the management of enterprise support funds:

4.1 - Leading and participating in drafting regulatory documents on the management and use of enterprise support funds of the Government and industry associations according to the assignment of the Minister of Finance.

4.2 - Guiding the establishment, management, and use of funds of industry associations.

4.3 - Managing and operating the Enterprise Restructuring Support Fund, the Redundant Labor Support Fund, the Export Support Fund, and other financial funds to support enterprises according to the division, delegation, and authorization of the Minister of Finance.

4.3 - Manage and operate the Fund for Supporting the Restructuring and Share Offering of State-Owned Enterprises, the Fund for Supporting Surplus Labor, the Export Support Fund, and other financial funds to support enterprises in accordance with the division of responsibilities, decentralization, and delegation by the Minister of Finance.

4.4 - To consolidate and supervise the management of financial support funds for enterprises by the Government, industry associations, and commodity associations as assigned by the Minister of Finance.

5 - Provide information, disseminate laws, policies, and regulations; organize training on enterprise financial policies and regulations; participate in enhancing the professional skills and expertise of finance and accounting staff and enterprise managers; publish and distribute the Enterprise Finance Magazine.

6 - Organize the exploitation and application of information technology to serve state management and financial forecasting for enterprises; build a system of financial information and databases for enterprises.

7 - Consolidate annual budget revenue and expenditure plans of State-owned Joint Stock Companies.

8 - Participate in building national financial policies; organize scientific research or cooperate in scientific research according to approved plans and contents by authorized authorities.

9 - Carry out international cooperation and integration tasks related to enterprise finance as assigned by the Minister of Finance.

10 - Perform other tasks as assigned by the Minister of Finance.

Article 3. The Director of the Enterprise Finance Department has the authority:

1 - To submit to the Minister for handling documents on enterprise financial management issued by central and local agencies that contravene national regulations and those of the Ministry of Finance.

2 - To sign guiding, explanatory, and answering documents regarding enterprise finance under delegation or handle them according to the authorization of the Minister of Finance.

3 - To request the Directors of Provincial Departments of Finance and Heads of enterprise financial management agencies under Ministries and central agencies to report on situations, provide relevant materials and data within their jurisdiction to fulfill assigned tasks as stipulated by law.

4 - To request enterprises to report, provide information and relevant materials and data on enterprise finance to fulfill assigned tasks.

Article 4. The Enterprise Finance Department consists of a Director and several Deputy Directors.

The Director is responsible for arranging, organizing, and managing all civil servants of the Department; managing allocated finances and assets according to state regulations; being accountable to the Minister for all activities of the Department.

Deputy Directors are accountable to the Director for assigned tasks.

The organizational structure of the Enterprise Finance Department includes:

Departments:

1. Industrial Enterprise Finance Department (referred to as Department I)

2. Transportation and Construction Enterprise Finance Department (referred to as Department II)

3. Agriculture and Fisheries Enterprise Finance Department (referred to as Department III)

4. Service Enterprise Finance Department (referred to as Department IV)

5. General Department

6. Administrative Department

Affiliated units: Enterprise Finance Magazine.

Specific tasks of departments and affiliated units are defined by the Director of the Enterprise Finance Department.

The staffing of the Enterprise Finance Department is decided by the Minister of Finance.

The Enterprise Finance Department has its own seal, and is allowed to open accounts at the State Treasury and Bank to implement assigned tasks.

Article 5. This Decision takes effect from the date of signing. Decree No. 106/1999/QĐ-BTC dated September 11, 1999 of the Minister of Finance on the tasks, powers, and organizational structure of the Enterprise Finance Department is hereby abolished.

The Director of the Enterprise Finance Department, the Head of the Cadres and Civil Servants Department, Heads of units and organizations under the Ministry, and the Director of the Ministry of Finance's Office are responsible for implementing this Decision./.