Decision No. 838-TC/QD/TCDN on the issuance of the "Model Financial Regulation for State-Owned Corporations"

GENERAL PROVISIONS

Article 1.-

A state enterprise engaged in business operations (hereinafter referred to as the enterprise) is a state-owned enterprise; it has legal personality and economic accounting; it is assigned capital, natural resources, land, and other resources by the State; it is responsible for using the assigned capital effectively, preserving and developing the capital; it has civil rights and obligations, and bears responsibility for its business activities within the scope of the state capital managed by the enterprise.

Article 2.-

The enterprise has independent accounting units, dependent accounting units, and public service units. The enterprise allocates capital and other resources to its units based on the state capital and resources allocated to the enterprise, in accordance with the business tasks of each unit and the approved capital utilization plan by the Board of Directors. The units are responsible to the State and the enterprise for the effectiveness of the use of the allocated capital and resources.

Article 3.-

The enterprise is subject to financial inspection and supervision by the Ministry of Finance as the state management agency and representative of the state owner of capital and assets in enterprises under the delegation of the Government. The units are subject to inspection and supervision by the enterprise according to the provisions of the enterprise's Charter and the financial agency regarding financial activities, capital and asset management.

FINANCIAL REGULATIONS FOR STATE ENTERPRISES

Article 4. When established, the enterprise is provided with initial charter capital by the State in accordance with the statutory capital level prescribed for the enterprise's business sector. The enterprise is responsible for continuously developing the assigned capital through its business results. Additional capital will only be provided when the State deems it necessary to invest to support business development or to fulfill additional State tasks.

Article 5.

1.

The State implements the transfer of state-owned capital to the Board of Directors of the enterprise. The transfer of capital is carried out in accordance with

Directive No. 138/CT dated April 25, 1991 of the Chairman of the Council of Ministers (now Prime Minister),

and the provisions in the Financial Management and Business Accounting Regulations for State Enterprises. Specifically:

- When transferring capital, the value of assets and capital must be assessed and determined according to the market price at the time of capital transfer.

- The capital transfer must be completed no later than 60 days after the enterprise receives its business registration certificate.

- The Minister of Finance or his authorized representative signs the capital transfer to the enterprise. The person receiving the capital is the Chairman of the Board of Directors and the General Director of the enterprise. The witness to the capital transfer is the agency deciding to establish the enterprise.

2. The General Director of the enterprise transfers capital to the units according to the approved plan by the Board of Directors.

- The person transferring capital is the General Director of the enterprise.

- The person receiving capital is the Director of the member enterprise.

Within 30 days of receiving state capital, the enterprise must transfer capital to the member enterprises. Within 15 days after completing the capital transfer to the member enterprises, the enterprise must compile and report to the agency managing state capital and assets in enterprises and the agency deciding to establish the enterprise.

Article 6.

The enterprise may use its capital and funds to meet timely business needs in accordance with the principle of preserving and developing capital. If the capital and other funds are used for purposes other than those specified, they must be returned according to the repayment principle. The use of capital and funds for investment and construction must comply with all state regulations on investment and construction management.

Article 7.

The enterprise has the right:

- To change the capital and asset structure to serve business operations.

- To adjust state capital between surplus and deficit member enterprises in accordance with the business tasks approved by the enterprise.

The General Director develops the adjustment plan, reports to the Board of Directors for approval, and issues the adjustment decision according to the principle of increasing or decreasing capital.

Within 10 days of the adjustment, the enterprise reports to the agency managing state capital and assets in enterprises and the agency deciding to establish the enterprise.

Article 8.

1.

The enterprise has the right to use its capital, assets, and land use rights under its management to invest outside the enterprise. However, the use of land use rights to invest outside the enterprise must be carried out in accordance with the provisions of the Land Law.

Investments outside the enterprise must ensure the principles of efficiency, preservation, and development of capital, increased income, and no impact on the enterprise's business tasks.

2. Forms of investment outside the enterprise include:

- Purchasing bonds and stocks;

- Joint ventures and shareholding contributions with other enterprises; - Other forms of investment as prescribed by law.

3. In the case of investment in other domestic enterprises, the Board of Directors approves the investment plan proposed by the General Director. Within fifteen days from the date of the decision, it must report to the state capital and asset management agency at the enterprise and the agency that decided on the establishment of the enterprise.

In the case of joint ventures with foreign parties, the Board of Directors reports to the agency that decided on the establishment for approval of the joint venture project. If authorized by this agency, the Board of Directors may make the decision. Within fifteen days from the date of the decision, the Corporation shall report to the state capital and asset management agency at the enterprise. The issuance of a joint venture license shall be in accordance with current laws.

4. The Corporation is not permitted to invest in enterprises belonging to other economic sectors where the father, mother, wife, husband, or child of the Chairman of the Board of Directors or the General Director is a manager or executive.

5. The Board of Directors and the General Director shall inspect and supervise the use of investment capital in other enterprises, bear responsibility for the effectiveness, preservation, and development of capital invested outside the Corporation; earn profits from such investments; appoint personnel directly managing the equity stake in other enterprises.

6. The Corporation may authorize independent accounting member enterprises to act on behalf of the Corporation to implement certain forms and levels of investment outside the Corporation.

Article 9.

1.

The Corporation has the right to lease, mortgage, or sell assets under its management for re-investment, technological renewal (except those assets leased, borrowed, held in custody, or mortgaged. Assets leased or borrowed can be subleased if the lessor or lender agrees). Such actions must follow the principle of being effective, preserving, and developing capital, ensuring procedures in accordance with the law.

2. The following assets:

a) The entire main production technology chain;

b) Assets belonging to critical infrastructure such as transportation routes, airports, ports, telecommunications systems;

Leasing, pledging, or mortgaging must be reviewed and decided by the head of the agency that decided on the establishment of the enterprise after negotiating with the state capital and asset management agency at the enterprise.

When selling, it must be agreed upon in writing by the state capital and asset management agency at the enterprise and the agency that decided on the establishment of the enterprise. If sold to foreign organizations or individuals, it must be approved by the Prime Minister.

3. Before selling, the assets must be appraised and widely announced through mass media; public auction must be organized.

4. The difference between the proceeds from the sale of assets and their remaining value, along with any selling costs, shall be accounted for as an increase or decrease in capital at the enterprise.

5. The Corporation shall classify and authorize member enterprises to carry out sales, leasing, pledging, or mortgaging of assets according to the regulations of the State expressed specifically in the Charter of organization and operation of member enterprises.

Article 10.

1.

The Corporation strictly follows the system of depreciation expense allocation and utilization of fixed assets. All depreciation expenses of fixed assets belonging to state capital retained by the Corporation for reinvestment, replacement, and modernization of fixed assets and use for business needs as stipulated by the Ministry of Finance.

2. The Corporation may mobilize depreciation expenses of independent accounting member enterprises to serve the concentrated investment needs of the Corporation. The General Director, pursuant to the authorization of the Board of Directors, decides on mobilization in the form of internal loans with interest rates determined by the Board of Directors. For special cases specified in the specific Charter of some Corporations, the Corporation may mobilize depreciation expenses (excluding depreciation of assets financed by loans not yet repaid) of independent accounting member enterprises according to the principle of reducing capital for the unit being mobilized. 3. The Corporation uses depreciation expenses, various types of capital, and funds for basic construction investment must comply with the State's regulations on investment management and construction.

Article 11.

1.

The Corporation may raise capital in all forms prescribed by law, such as borrowing from banks, financial institutions, enterprises, organizations, individuals both domestically and internationally, issuing bonds, and other borrowings to meet business operation needs. Capital raising must comply with current laws and shall not change the form of state ownership of the Corporation. The limit of a single loan is decided by the Board of Directors, but the total outstanding debt of the Corporation and member enterprises shall not exceed the registered capital of the Corporation at the same time, except as otherwise provided by law.

The Corporation shall be responsible for the purpose and effectiveness of the use of raised capital, repayment of principal and interest in accordance with the commitments in the capital-raising contract.

2. The Corporation may borrow idle funds from member enterprises and lend them back to member enterprises with internal interest rates. Borrowing and repayment shall comply with legal provisions and the Charter of organization and operation of the Corporation. The Board of Directors decides the internal interest rate.

3. Member enterprises may raise capital according to the classification and authorization of the Corporation. For capital raising for investment in construction, equipment, and machinery, the Board of Directors approves the proposal made by the General Director. The limit of a single loan is decided by the Director, and the total outstanding debt shall not exceed the registered capital of the member enterprise.

4. The Corporation may guarantee loans for member enterprises within the country according to current laws.

The guarantee of foreign loans by the Corporation and member enterprises shall be in accordance with current state regulations.

Article 12.

The Corporation shall conduct asset revaluation in the following cases:

1. Inventory and revaluation of assets according to the decision of the State.

2. Implementing shareholding, diversifying ownership forms. 3. Using assets to contribute to joint ventures, share capital contributions.

4. Adjusting prices to ensure the actual value of enterprise assets.

The inventory and valuation must comply with the State's regulations. Any discrepancies in asset value due to revaluation shall be recorded as increases or decreases in state capital at the Corporation.

Article 13.

In case of asset loss (damage reducing asset value or loss), the Corporation must establish a committee to determine the cause and extent of the loss, develop a resolution plan, and report it to the Board of Directors. If the responsibility of individuals or groups is clearly identified, they must compensate for the asset loss. The level of compensation will be decided by the Board of Directors in accordance with the law.

For losses due to force majeure, the Board of Directors will decide on handling after consulting the opinions of the capital and asset management agency at the enterprise and the agency that established the enterprise.

The Board of Directors may delegate authority to the General Director to decide on the level of compensation for asset losses within the specific limits set out in the Corporation’s Financial Regulations.

All cases of asset loss, after being resolved, must be reported in writing to the capital and asset management agency at the enterprise and the agency that established the enterprise within no more than ten days.

Article 14.

1.

The Corporation can independently liquidate assets that are obsolete, deteriorated, technologically outdated, no longer needed, irreparable damaged assets, or those that have exceeded their useful life.

For assets that have fully recovered their capital, the General Director decides on liquidation and reports to the Board of Directors. For assets that have not yet fully recovered their capital, the General Director develops a liquidation plan to be approved by the Board of Directors and then implements the liquidation. For assets specified in Clause 2, Article 9 of this Regulation, prior to liquidation, there must be a written agreement from the capital and asset management agency at the enterprise and the agency that established the enterprise.

2. Spare parts and scrap recovered from liquidated assets, if used for production and business operations, must be revalued. The Board of Directors determines the value of the recovered assets; if sold, public notice must be given and auctioned according to the State's regulations.

3. The difference between the value obtained from liquidating assets and the remaining value of the assets and liquidation costs (if any) shall be recorded as an increase or decrease in capital at the enterprise.

4. The Corporation delegates and authorizes member enterprises in the liquidation of assets within the specific levels outlined in the Charter of Organizational and Operational Activities of member enterprises, consistent with this Regulation.

5. Within ten days after liquidating assets, the Corporation must report the results of the liquidation to the capital and asset management agency at the enterprise and the agency that established the enterprise.

Article 15.

1.

The Corporation needs to have detailed regulations on debt management; clearly defining the responsibilities of each level in managing, monitoring, reconciling, recovering debts, analyzing repayment capacity, and delegating levels for handling difficult debts. For difficult debts, a committee must be established to identify the amount unrecoverable, causes, responsibilities of groups and individuals, and recommend measures for handling. The Board of Directors decides on the resolution plans for difficult debts. The discrepancy between unrecovered debt and the compensation for the responsibility of groups and individuals (if any) will be offset by the provision for difficult debts; if insufficient, it will be recorded as operating expenses or business results depending on specific circumstances under current regulations.

2. The Corporation may delegate and authorize member enterprises to handle difficult debts. The level of delegation is specifically reflected in the Charter of member enterprises.

3. Within ten days after handling difficult debts, the Corporation must report in writing to the capital and asset management agency at the enterprise.Supplement

Article 16.

1.

The revenue of the Corporation includes the revenue of its member enterprises. Revenue includes the following types:

a) Revenue from business operations, including: revenue from selling products and providing services on the market after deducting trade discounts, price reductions, returned goods; income from state subsidies and price supports when performing tasks to supply goods and services as required by the state;

b) Financial activity revenue, such as: buying and selling bills, bonds, stocks, leasing assets, joint venture activities, collecting deposits, interest on loans;

c) Other revenue, such as: recovery of previously written-off debts, proceeds from liquidation and sale of assets; and other receipts.

2. The Corporation分级管理并授权成员企业按照国家规定和各成员企业的具体章程管理各项收入。

Article 17.

1.

The expenses of the Corporation include the expenses of member enterprises and the expenses of the Corporation's management and operation body. The expenses of member enterprises are specifically defined in Article 24 of this Regulation.

The operating funds for the management and operation body of the Corporation are raised from member enterprises. The annual amount raised is proposed by the General Director and approved by the Board of Directors after obtaining written comments from the financial authority. The Corporation manages and uses these funds according to current regulations. Unspent operating funds in a year are carried over to the next year for expenditure and must be deducted from the operating funds raised from units in the next year.

The delegation and authorization to member enterprises in managing production costs are reflected in the specific charter of the Corporation consistent with current regulations.

2. The General Director of the Corporation establishes economic and technical norms, indirect cost norms to submit to the Board of Directors for approval as the basis for directing production and managing costs of the Corporation.

Corporations classified as special enterprises must register labor norms with the Ministry of Labor, Invalids, and Social Affairs. Based on registered labor norms and state-prescribed salary systems, the Corporation constructs unit product and service wage rates to submit to the competent authority for approval.

The General Director approves economic and technical norms, labor norms, indirect cost norms, and wage rates of member enterprises in accordance with the norms and rates of the Corporation approved by the Board of Directors or the competent authority.

3. For expenditures not in accordance with regulations, the person who decides on such expenditures shall bear responsibility for reimbursement; expenditures exceeding approved norms must clearly identify responsibility and propose solutions to the Board of Directors for handling. The Board of Directors of the Corporation is responsible under the law for its decisions and reports in writing to the state capital and asset management authority at the enterprise.

Article 18.

Semi-finished products circulating internally among member units for further completion, and internal services circulating among member units to support production are exempt from turnover tax. The list of such semi-finished products and services is specifically defined by the Ministry of Finance for each Corporation.

Article 19.

The profit of the Corporation is the total profit of its member enterprises. The principles for determining profit items are stipulated in Article 25 of this Charter.

Article 20.

The Corporation is entitled to establish and utilize the following centralized funds:

1. Financial Reserve Fund: The Corporation may mobilize the annual financial reserve fund contributions from independent accounting member enterprises to form a centralized financial reserve fund of the Corporation. The specific level of mobilization is defined in the Financial Regulations of each Corporation. This fund is used to offset and support losses of capital due to natural disasters, enemy attacks, business risks of the Corporation and its member enterprises when the provisions set aside in cost prices and insurance compensation are insufficient. In necessary cases, the Corporation may raise funds through internal loans with interest rates from the financial reserve fund of independent accounting member enterprises for common use within the Corporation or to support member enterprises in case of capital loss risk.

2. Development Investment Fund: Formed from the following sources:

- Non-repayable mobilization of the development investment fund contributions made annually by enterprises under independent accounting. The specific level of mobilization is defined in the Financial Regulations of each Corporation.

- Remaining profits after tax of dependent member enterprises and the share of profits distributed from joint ventures directly managed by the Corporation. Specific levels are approved by the Board of Directors upon the proposal of the General Director.

- The Corporation may raise funds through internal loans with interest rates from the development investment fund and the remaining basic depreciation funds of independent accounting member enterprises for reinvestment. The level of mobilization is decided by the General Director based on the authorization of the Board of Directors. Internal interest rates are determined by the Board of Directors but must not be lower than the rate of return on budgetary funds usage prescribed by the State.

- Additionally, for certain special cases specified in the Articles of Incorporation of some Corporations, the Corporation may mobilize the basic depreciation funds (excluding the basic depreciation of fixed assets purchased with borrowed funds that have not been fully repaid) of independent accounting member units according to the principle of reducing capital for the unit being mobilized.

The Development Investment Fund is used for concentrated investments, including supplementing the registered capital of the Corporation and its member enterprises to develop business in accordance with the strategic orientation of the Corporation.

3. Scientific Research and Training Fund: Formed from the following sources:

a) Mobilization of the development investment fund contributions made annually by independent accounting member enterprises. The specific level of mobilization is defined in the Financial Regulations of each Corporation.

b) A portion of the surplus from scientific research and training activities conducted by affiliated units within the Corporation with units inside and outside the Corporation. The specific level of mobilization is defined in the Financial Regulations of each Corporation.

c) Research and training funding supported by the state budget (if any).

The fund is used to finance the concentrated scientific research and training work of the Corporation and to support member enterprises in their scientific research and training activities.

4. Welfare Fund: The Corporation may mobilize a portion of the welfare fund contributions made annually by member enterprises to establish a welfare fund of the Corporation. The specific level of mobilization is defined in the Financial Regulations of each Corporation.

The fund is used to finance welfare for the management and operational staff of the Corporation in accordance with current regulations and to support the welfare funds of other member units. In cases where high-level mobilization is required to build common welfare facilities throughout the Corporation, the General Director will develop a mobilization plan for independent accounting member enterprises to be submitted to the Board of Directors for approval and implementation.

5. Reward Fund: The Corporation may mobilize the reward fund contributions made annually by independent accounting member enterprises to establish a reward fund of the Corporation. The specific level is defined in the Financial Regulations of each Corporation. This fund is used to finance rewards for the management and operational machinery of the Corporation; to reward outstanding member units and to support the reward funds of member units when necessary, as decided by the Board of Directors.

Article 21.

The Corporation has the obligation to comply with the Accounting and Statistics Ordinance, accounting regulations, auditing systems, prepare and submit quarterly and annual final reports in accordance with prescribed forms and deadlines; it shall be responsible for the truthfulness and accuracy of the data and documents. The Corporation's comprehensive annual financial final report includes forms such as the financial final report for enterprises issued together with Decision No. 1141 TC/QĐ/CĐKT dated November 1, 1995 of the Minister of Finance. In the final report, there must be a clear distinction between the centralized accounting portion of the Corporation and the consolidated final reports of independent accounting member enterprises and public service units.

The General Director is responsible for preparing the annual final report of the entire Corporation, including all member units, to be submitted to the Board of Directors for approval and publicly disclose the Corporation's financial situation according to the guidelines of the Ministry of Finance and bear legal responsibility for the published figures.

The Corporation and independent accounting member enterprises shall implement auditing systems, publish their annual financial operation results according to the guidelines of the Ministry of Finance and bear legal responsibility for the contents they have published.

Financial agencies shall carry out inspection and verification tasks regarding these publications of the Corporation and independent accounting member enterprises.

Article 22.-

The General Director of the Corporation shall develop an annual financial plan consistent with business plans to be submitted to the Board of Directors for approval and registered with the Ministry of Finance. Quarterly and annually, the Corporation shall report to the Ministry of Finance on the implementation of business and financial plans according to state-prescribed forms. The General Director shall approve financial plans for member units based on the Corporation's financial plan; monitor, supervise, and consolidate the implementation status of member units.

ENTERPRISE FINANCIAL REGIME OF THE CORPORATION

Article 23.

In managing capital and assets, enterprises:

1. Shall be allocated capital by the Corporation to manage and utilize in accordance with the scale and business tasks approved by the Board of Directors. Member enterprises shall be responsible to the General Director for the effectiveness of capital utilization, preservation, and development.

2. Apart from the allocated capital, enterprises may raise capital for business activities without changing the ownership form of the enterprise as stipulated by law and in accordance with the Corporation's classification; they shall bear responsibility for the effectiveness of capital raising. For borrowing to invest in basic construction, purchase equipment, and machinery, enterprises must prepare a plan to report to the General Director for submission to the Board of Directors for approval before implementation. Enterprises must strictly follow state investment and construction management regulations; borrowing limits and total outstanding debt as specified in Article 11 of this Regulation.

3. May sell, lease, pledge, mortgage, or liquidate assets under their management to serve business operations according to the principle of preserving and developing capital and the Corporation's classification. For assets specified in Clause 2, Article 9 of this Regulation, enterprises can only sell, lease, pledge, or mortgage after obtaining approval from the competent authority.

4. May proactively change the capital and asset structure of the enterprise according to business requirements and the effectiveness of capital and asset usage; external investments must comply with legal provisions and the Corporation's classification and authorization. Enterprises shall be responsible to the Corporation for the effectiveness of external investments; preservation and development of that capital; appointing personnel to directly manage the enterprise's equity stake in other enterprises; and collecting profits from that equity stake.

5. Regarding lost capital and assets, and difficult-to-collect receivables, enterprises may handle them according to the Corporation's classification and authorization and legal provisions. Enterprises shall be responsible to the Corporation and the law for their decisions; after handling, they must report in writing to the Corporation and the state capital and asset management agency at the enterprise.

6. Shall comply with the Corporation's capital and asset mobilization plan approved by the Board of Directors. If the Corporation raises funds through borrowing, enterprises shall receive interest at the rate set by the Board of Directors.

Article 24.

1.

Enterprise revenue includes business revenue, financial activity revenue, and other revenues. The contents of each type of revenue are defined in Article 16 of this Regulation.

2. Enterprise expenses include business activity expenses, financial activity expenses, and other activity expenses; all expenses must comply with approved economic and technical norms, unit prices, and have valid invoices and receipts.

Business activity expenses include factors such as raw materials, fuel, and supplies; wages and wage supplements, social insurance, health insurance, trade union fees calculated based on wages; depreciation of fixed assets, outsourcing service costs, and other monetary expenses.

Selling expenses and enterprise management expenses (including payments to higher levels) incurred during the year shall be allocated to goods and services sold during the year.

Financial activity expenses include costs for buying and selling bonds, bills, stocks, basic depreciation of leased fixed assets, joint venture activity costs...

Other activity expenses include costs for recovering written-off debts, fines collected, and costs for selling and liquidating assets...

Commission fees for brokerage services shall not apply to agents of the enterprise, designated customers, managerial positions within the enterprise, employees responsible for supplying materials, and product sales staff. The level of brokerage commission is decided by the Director and he/she shall be responsible to the Corporation and the law for this decision.

The limit on expenses for meetings, hospitality, and transactions approved by the Board of Directors for member enterprises shall not exceed the national ceiling.

In addition to the aforementioned expenses, enterprises may include the following in their costs:

- Provisions for inventory write-downs, doubtful debts, and financial investment write-downs as guided by the Ministry of Finance.

- Severance payments to employees as stipulated in Decree No. 198/CP dated December 31, 1994 of the Government guiding certain provisions of the Labor Code.

- Expenses for product warranty services consumed during the period.

For expenses that are not permitted under regulations, enterprises are not allowed to record them as costs.

Any person who decides on unauthorized expenses must compensate for such expenses.

For expenses exceeding the prescribed limits, the Board of Directors will handle them according to the current state regulations.

Article 25.

Profit and profit distribution.

An enterprise's profit is the difference between total revenue and total costs including all taxes as prescribed by law for business operations, financial activities, and other activities. Profits also include profits from previous years discovered and recognized in the current year, minus any losses from two previous years (if any) determined in the final settlement.

Profit distribution is carried out in accordance with the Financial Management and Business Accounting Regulations of state-owned enterprises.

Article 26.

Enterprises prepare financial plans linked to business plans, submit them to the Corporation for approval, organize implementation, and periodically report on the implementation of annual financial plans to the Corporation.

Article 27.

Apart from the above provisions, member enterprises have rights and obligations as independent state-owned enterprises under applicable laws.

Article 28.

Member enterprises with dependent accounting perform their rights and obligations according to the Corporation's classification.

Article 29.

Non-business units within the Corporation operate under current state regulations and organizational and operational rules approved by the Board of Directors. Their financial mechanism is based on revenue covering expenses. Revenue sources include economic service fees, training, scientific research, healthcare, education, and other training and service activities conducted with units inside and outside the Corporation. These units enjoy welfare and incentive funds according to current regulations for units with revenue covering expenses.

Article 30.

Member units of the Corporation have financial accounting and statistics systems; they implement accounting and statistical records in accordance with the Accounting and Statistics Law and State Accounting Regulations issued by the Ministry of Finance. Financial reports of member enterprises must be truthful, accurate, prepared, and submitted at the specified time and address.

Article 31.

Member units are responsible for strictly adhering to current state financial management regulations, capital management, and asset management rules, and are subject to financial activity oversight, capital management, and asset management inspections by financial authorities and the Corporation as stipulated in the Corporation's Charter.

IMPLEMENTING PROVISIONS

Article 32.

Based on the provisions of this model financial regulation, state-owned corporations develop specific financial regulations for each corporation.

The Corporation's financial regulations are developed by the General Director and promulgated by the Board of Directors after receiving written comments from the Ministry of Finance. In cases requiring supplementation or amendment to the financial regulations, the General Director must report to the Board of Directors and obtain approval from the Ministry of Finance before signing the amendments or supplements.

Article 33.

Apart from the above provisions, the Corporation and its member units must fully comply with current state financial regulations.