Decision No. 29/2005/QĐ-TTg On the transfer of Vietnam Paper Joint Stock Corporation to operate under the holding company - subsidiary model

DECISION OF THE PRIME MINISTER

Regarding the transfer of Vietnam Paper Joint Stock Corporation Company

operates under the parent company - subsidiary model

PRIME MINISTER

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

Pursuant to the Enterprise Law No. 14/1999/QH10 dated June 12, 1999;

Pursuant to the State-Owned Enterprise Law No. 14/2003/QH11 dated November 26, 2003;

Pursuant to the Government Decree No. 153/2004/NĐ-CP dated August 9, 2004 on the organization and management of State-owned Holding Corporations and the transformation of State-owned Holding Corporations and independent State-owned Companies into a Parent-Subsidiary model;

Considering the proposal of the Minister of Industry and the Board of Directors of Vietnam Paper Joint Stock Corporation Company,

DECISION:

Article 1. Approves the Plan for transferring Vietnam Paper Joint Stock Corporation Company to operate under the Parent-Subsidiary model with the following contents:

1. The Parent Company - Vietnam Paper Joint Stock Corporation Company (VINAPACO) is a state-owned enterprise formed based on the restructuring of the Vietnam Paper Joint Stock Corporation Company Office and the Bai Bang Paper Company.

2. Subsidiaries include:

a) Limited liability companies:

- State-owned Limited Liability Company Thanh Hoa Raw Materials and Pulp;

- State-owned Limited Liability Company Southern Paper Raw Materials;

b) Joint-stock companies in which the Parent Company holds controlling shares

- Tan Mai Paper Joint-Stock Company;

- Dong Nai Paper Joint-Stock Company;

- Binh An Paper Joint-Stock Company;

- Viet Tri Paper Joint-Stock Company;

- Hong Ha Stationery Joint-Stock Company;

- Hoang Van Thu Paper Joint Stock Company.

3. Associated companies:

- Nhat Nam Joint-Stock Company;

- Phuc Yen Printing Joint-Stock Company;

- Sai Gon Match and Clothing Joint-Stock Company;

- Thong Nhat Salt and Match Joint-Stock Company;

- Van Diem Paper Joint Stock Company.

4. Vietnam Paper Joint Stock Corporation Company operates under the Parent-Subsidiary model, implementing accounting and business operations and investing capital in subsidiaries and associated companies according to the Charter of Organization and Operation and Financial Regulations of the Parent Company approved by competent state authorities.

The management structure of the Parent Company includes: the Board of Directors, General Director, Deputy General Directors, Chief Accountant, and supporting staff.

Article 2. Assignment of tasks:

1. The Minister of Industry shall direct the implementation of the Plan; decide on the establishment of the Parent Company; and the subsidiaries mentioned in Article 1 of this Decision in accordance with current regulations.

2. The Minister of Finance: approves the Financial Regulations of the Parent Company.

3. The Board of Directors of Vietnam Paper Joint Stock Corporation Company shall submit to the Prime Minister for approval the Charter of Organization and Operation of the Parent Company.

Article 3. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Ministers of Industry, Finance, Planning and Investment, Home Affairs, Labor, Invalids and Social Affairs, Governor of the State Bank of Vietnam, Vietnam Paper Joint Stock Corporation Company, and related agencies are responsible for enforcing this Decision.