Decision No. 38/2006/QĐ-BCN on the transformation of Hà Bắc Fertilizer and Chemical Corporation into Hà Bắc Fertilizer and Chemical Joint Stock Company with sole member

DECISION OF THE MINISTER OF INDUSTRY AND TRADE

Regarding the conversion of Ha Bac Fertilizer and Chemical Corporation into Ha Bac Fertilizer and Chemical Joint Stock Company with One Member Phan Dam and Hoa Chat Ha Bac

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MINISTER OF INDUSTRY AND TRADE

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

Pursuant to Decree No. 95/2006/NĐ-CP dated September 8, 2006 of the Government on the transformation of state-owned enterprises into joint stock companies with one member;

Pursuant to Decision No. 89/2006/QĐ-TTg dated April 24, 2006 of the Prime Minister approving the project to convert Vietnam Chemical Corporation into a holding company - subsidiary model;

Considering the proposal of the Board of Directors of Vietnam Chemical Corporation (Letter No. 1068/HCVN-HĐQT dated September 28, 2006);

At the proposal of the Director of the Personnel and Organization Department,

DECISION:

Article 1. Transfer Ha Bac Fertilizer and Chemical Corporation, an independent accounting unit under Vietnam Chemical Corporation, into Ha Bac Fertilizer and Chemical Joint Stock Company with One Member.

Ha Bac Fertilizer and Chemical Joint Stock Company with One Member shall have its own seal, open accounts at domestic and foreign banks in accordance with the law, and operate according to the Company's Charter and the Enterprise Law.

- Full name: Ha Bac Fertilizer and Chemical Joint Stock Company with One Member.

- Trade name: Ha Bac Fertilizer and Chemical Corporation.

- International trade name: Habac Nitrogenous Fertilizer and Chemical Company Limited.

- Abbreviation in English: Hanichemco.

- Registered capital: 352,000,000,000 VND (Three hundred fifty-two billion VND).

- Main office address: Tho Xuan Ward, Bac Giang City, Bac Giang Province.

Article 2. Business activities of the company:

- Production and trading of urea fertilizer, mixed NPK fertilizer;

- Production and trading of basic chemicals;

- Production and trading of electricity. Management and operation of distribution networks within the scope managed by Ha Bac Fertilizer and Chemical Corporation with voltage up to 35 KV;

- Production and trading of liquid ammonia, liquid and solid carbon dioxide, industrial gas products;

- Production and trading of mechanical goods;

- Construction projects. Project investment planning and construction. Designing equipment and chemical technology projects;

- Investment and financial trading;

- Trading in other industries as prescribed by law.

Article 3. Organizational structure and operations:

1. Management organizational structure of the Company:

- According to the model: Board of Members, General Director, Inspector, and supporting staff.

- Directly affiliated production and trading units.

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

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

Main office: No. 1A, Trang Tien Street, Hoan Kiem District, Hanoi City.

The Board of Directors of Vietnam Chemical Corporation is responsible for exercising the rights of the owner's representative towards Ha Bac Fertilizer and Chemical Joint Stock Company with One Member in accordance with current regulations and the Company's Charter.

Article 5. Ha Bac Fertilizer and Chemical Joint Stock Company with One Member is responsible for receiving and effectively utilizing the capital and assets transferred by the Board of Directors of Vietnam Chemical Corporation to fulfill the mission of developing production and trading; inheriting all legitimate rights, obligations, and benefits of Ha Bac Fertilizer and Chemical Corporation.

Article 6.The Board of Members of Ha Bac Fertilizer and Chemical Joint Stock Company with One Member is responsible for drafting the Company's Charter for approval by the Board of Directors of Vietnam Chemical Corporation.

Article 7. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Head of the Ministry's Office, the Inspector General, Heads of Departments and Bureaus under the Ministry, the Board of Directors and General Director of Vietnam Chemical Corporation, the Director of Ha Bac Fertilizer and Chemical Corporation, and the Board of Members and General Director of Ha Bac Fertilizer and Chemical Joint Stock Company with One Member are responsible for implementing this Decision./.