Decision No. 321/2005/QD-TTg transfers Bac Son Tobacco Factory under Vietnam Tobacco Corporation to a Limited Liability Company with One Member.

DECISION OF THE PRIME MINISTER

Transfer the Bac Son Tobacco Factory under the Vietnam Tobacco Corporation

become a joint stock company with single member responsibility

PRIME MINISTER

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

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to Decree No. 63/2001/NĐ-CP dated September 14, 2001 of the Government on the conversion of state-owned enterprises and enterprises of political organizations and political-social organizations into limited liability companies with one member

Considering the proposal of the Board of Directors of the Vietnam National Tobacco Corporation,

DECISION:

 Article 1. Transfer the Bac Son Tobacco Factory, an independent accounting unit under the Vietnam Tobacco Corporation, into a Limited Liability Company with One Member named Bac Son Tobacco Factory.

The Limited Liability Company with One Member Bac Son Tobacco Factory shall have its own seal, be allowed to open accounts at domestic and foreign banks in accordance with the provisions of the law, and operate in accordance with the Company's Charter and the Enterprise Law.

- Full name: Limited Liability Company with One Member Bac Son Tobacco Factory.

- Abbreviation: Bac Son Tobacco Company.

- International trade name: Bac Son tobacco company limited.

- Abbreviation: Vinataba Bac Son.

- Registered capital as of June 30, 2005: 46,966,218,649 Vietnamese dong (Forty-six billion, nine hundred sixty-six million, two hundred eighteen thousand, six hundred forty-nine Vietnamese dong).

- Main office: Dap Cau Ward, Bac Ninh City, Bac Ninh Province.

Article 2. Business activities of the Company: production and trading of cigarette tobacco, spun tobacco, and other businesses as prescribed by law.

Article 3. Organization and operation:

1. Management structure of the Company follows the model: Chairman of the company, General Director, and supporting staff.

2. The organization and operation of the Company are specifically regulated in the Company's Charter on organization and operation.

Article 4. The State-authorized representative body for the owner is the Board of Directors of the Vietnam Tobacco Corporation.

Address: 25A Ly Thuong Kiet Street, Hoan Kiem District, Hanoi City.

The Board of Directors of the Vietnam Tobacco Corporation is responsible for exercising the rights of the owner representative over the Limited Liability Company with One Member Bac Son Tobacco Factory in accordance with current regulations and the Company's Charter.

Article 5. The Limited Liability Company with One Member Bac Son Tobacco Factory is responsible for receiving and effectively utilizing the capital and assets transferred by the Board of Directors of the Vietnam Tobacco Corporation to fulfill the tasks of developing production and business operations; inheriting all rights and obligations of the Bac Son Tobacco Factory.

Article 6. The Chairman of the Limited Liability Company with One Member Bac Son Tobacco Factory is responsible for drafting the Charter of organization and operation of the Company to submit to the approval of the Board of Directors of the Vietnam Tobacco Corporation.

Article 7. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Board of Directors of the Vietnam Tobacco Corporation, the Director of the Bac Son Tobacco Factory, and the Chairman of the Limited Liability Company with One Member Bac Son Tobacco Factory are responsible for implementing this Decision./.