Decision No. 55/2004/QĐ-BCN On the transformation of Tractor and Agricultural Machinery Company into a State Capital Joint Stock Corporation for Tractors and Agricultural Machinery

Pursuant to …;

Regarding the transformation of the Tractor and Agricultural Machinery Company into

a Joint Stock Company with One Member - Tractor and Agricultural Machinery

__________________________

THE MINISTER OF INDUSTRY

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

Pursuant to Decree No. 63/2001/ND-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 Joint Stock Companies with One Member;

Pursuant to Decision No. 125/QD-TTg dated January 28, 2003 of the Prime Minister approving the overall restructuring plan for state-owned corporations and state-owned enterprises under the Ministry of Industry for the period 2003-2005;

Considering the proposal of the Vietnam Engine and Agricultural Machinery Corporation at Document No. 251/MDL-NN/DMDN dated June 8, 2004 and the file on the transformation of the Tractor and Agricultural Machinery Company into a Joint Stock Company with One Member - Tractor and Agricultural Machinery;

At the suggestion of the Enterprise Reform and Development Board under the Ministry and the Director of the Personnel and Organization Department,

DECISION:

Article 1. The Tractor and Agricultural Machinery Company, a member enterprise operating independently under the Vietnam Engine and Agricultural Machinery Corporation, shall be transformed into a Joint Stock Company with One Member - Tractor and Agricultural Machinery.

The Joint Stock Company with One Member - Tractor and Agricultural Machinery (referred to as the Company) shall have its own seal, open accounts at banks in accordance with the law, and operate in accordance with the Enterprise Law and the Charter of the Company.

Full name: Joint Stock Company with One Member - Tractor and Agricultural Machinery

Abbreviation: Tractor and Agricultural Machinery Company;

International trade name in English:

TRACTOR AND AGRICULTURAL MACHINERY COMPANY.

Abbreviation in English: TAMAC Co. Ltd.

Main office located at: No. 4 Chu Van An Street, Yet Kieu Ward, Ha Dong Town, Ha Tay Province.

Registered capital of the Company: 15,397,631,494 Vietnamese dong. (Fifteen billion, three hundred ninety-seven million, six hundred thirty-one thousand, four hundred ninety-four Vietnamese dong).

Article 2. Business activities of the Company:

Designing, manufacturing, and trading in various types of machinery and equipment, spare parts serving agricultural production, including: tractors and accompanying work machines, post-harvest processing machines, farm utility vehicles, and rural transport vehicles. Trading services for warehouses, workshops, and offices.

Engaging in other business activities as prescribed by law.

Article 3. Organization and operation of the Company:

1. The organizational structure of the Company includes:

a) Chairman of the Company;

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

c) Subordinate units of the Company.

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 as the owner:

Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation, address: No. 2 Trieu Quoc Dat Street, Hoan Kiem District, Hanoi City.

The Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation shall be responsible for exercising the rights of the owner according to Decree No. 63/2001/ND-CP dated September 14, 2001 of the Government and the Company's Charter.

Article 5. The Joint Stock Company with One Member - Tractor and Agricultural Machinery shall be responsible for receiving and using effectively the capital and assets transferred by the Board of Directors of the Vietnam Engine and Agricultural Machinery Corporation to fulfill the mission of developing production and business; inheriting all lawful rights, interests, and obligations regarding capital, assets, labor, and land from the Tractor and Agricultural Machinery Company.

Article 6. The Chairman of the Joint Stock Company with One Member - Tractor and Agricultural Machinery shall be 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 Engine and Agricultural Machinery Corporation; appointing the General Director, Deputy General Directors, and Chief Accountant of the Company in accordance with the Company's Charter and current laws.

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

The Head of the Office of the Ministry, the Head of the Inspectorate of the Ministry, the Heads of Departments and Bureaus under the Ministry, the Board of Directors and General Director of the Vietnam Engine and Agricultural Machinery Corporation, the General Director of the Tractor and Agricultural Machinery Company, the Chairman and General Director of the Joint Stock Company with One Member - Tractor and Agricultural Machinery shall be responsible for implementing this Decision./.