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THE
MINISTRY OF FINANCE
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
95/2000/QD-BTC
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Hanoi,
June 09, 2000
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DECISION
PROMULGATING THE REGULATION ON MANAGEMENT, COLLECTION,
REMITTANCE AND USE OF STATE ENTERPRISE RESTRUCTURE AND EQUITIZATION SUPPORT
FUNDS
THE MINISTER OF FINANCE
Pursuant to the Government’s Decree No.178/CP
of October 28, 1994 on the tasks, powers and organizational structure of the
Finance Ministry;
Pursuant to the Government’s Decree No.44/1998/ND-CP of June 29, 1998 on the
transformation of State enterprises into joint-stock companies;
Pursuant to the Government’s Decree No.103/1999/ND-CP of September 10, 1999 on
assigning, selling, business contracting and leasing State enterprises;
Pursuant to the Prime Minister’s Decision No.177/1999/QD-TTg of August 30, 1999
on organization and operation of the State enterprise restructure and equitization
support funds;
With the Prime Minister’s consent mentioned in the Government Office’s Official
Dispatch No.32/VPCP-DMDN of May 19, 2000;
At the proposals of the head of the Enterprise Finance Department and the
general director of the State Treasury,
DECIDES:
Article 1.- To issue
together with this Decision the Regulation on the management, collection,
remittance and use of the State enterprise restructure and equitization support
funds.
Article 2.- This
Decision takes effect from the effective date of the Prime Minister’s Decision
No.177/1999/QD-TTg of August 30, 1999 and replaces the Finance Minister’s
Decision No.01/1998/QD-BTC of January 2, 1998 promulgating the Regulation on
the management and use of proceeds from the State’s equities sale and
dividends.
The ministries, ministerial-level agencies,
agencies attached to the Government and People’s Committees of the provinces
and centrally-run cities shall have to coordinate with the Finance Ministry in
implementing this Decision.
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FOR THE FINANCE MINISTER
VICE MINISTER
Tran Van Ta
REGULATION
ON MANAGEMENT AND USE OF STATE ENTERPRISE RESTRUCTURE AND
EQUITIZATION SUPPORT FUNDS
(Issued together with the Finance Minister’s Decision No.95/2000/QD-BTC of
June 9, 2000)
Chapter I
SETTING UP OF FUNDS AND
SOURCES OF CAPITAL THEREFOR
Article 1.- The State
enterprise restructure and equitization support funds aim to settle regimes for
laborers, create conditions and provide financial support for State enterprises
in the process of restructure, ownership transformation and alteration of the
management mode, concretely for those enterprises which are subject to
division, splitting, merger, equitization, assignment, business contracting,
sale or lease under the Government’s Decree No.44/1998/ND-CP of June 29, 1998
and Decree No.103/1999/ND-CP of September 10, 1999 as well as the Prime
Minister’s Decision No.177/1999/QD-TTg of August 30, 1999.
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1. The central enterprise restructure fund:
Sources of capital for this fund shall be
created from revenues generated during the restructure and ownership
transformation of State enterprises attached to the ministries and branches;
financial supports provided by domestic and foreign organizations and/or
individuals for the Government as well as ministries and branches to
restructure and equitize State enterprises; and central budget allocations made
according to the annual plan (if any).
2. The local enterprise restructure fund:
Sources of capital for this fund shall be
created from revenues generated during the restructure and ownership
transformation of the locally-run State enterprises; financial supports
provided by domestic and foreign organizations and/or individuals for
localities to restructure and equitize State enterprises, and local budget
allocations made according to the annual plan (if any).
3. The enterprise restructure fund at a
corporation 91:
Sources of capital for this fund shall be
created from revenues generated during the restructure and ownership
transformation of State enterprises being members of a corporation 91;
financial supports provided by domestic and foreign organizations and/or
individuals for the corporation to restructure and equitize State enterprises.
Article 3.- Concrete
revenue sources from enterprises to enterprise restructure funds at the
above-mentioned 3 levels include:
1. The actual proceeds from the sale of State
capital at State enterprises upon their equitization (including the proceeds
from the deferred-payment sale of equities to laborers).
2. The proceeds from the sale, business
contracting or lease of State enterprises (which shall be resold to the
lessees) after subtracting the expenses therefor; payment of wage debts, social
insurance debts and other secured debts as well as other expenses prescribed by
law.
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4. The money gained from the recovery of bad
debts, which had already been handled, the sale of assets no longer needed for
use or left in stock and liquidated assets which had already been excluded from
the value of enterprises upon the ownership transformation after subtracting the
expenses for asset sale and liquidation as well as debt recovery activities.
5. The proceeds from the sale of assets of
dissolved State enterprises after subtracting the expenses for dissolution
activities and debt payment as prescribed in the Finance Ministry’s Circular
No.25/TC/TCDN of May 15, 1997 guiding the order, procedures and principles for
the financial handling upon the dissolution of State enterprises.
6. The dividends and incomes gained from the
State’s contributed capital at the joint-stock companies and limited liability
companies, which are established on the basis of the ownership transformation
of State enterprises, or State capital contributed by such enterprises.
Article 4.- With regard
to the proceeds from the sale of State capital at the already equitized State
enterprises, which are deposited in the account "deposits from State
enterprise equitization", the State Treasury shall, depending on the
levels which manage such enterprises, transfer money into the account of the
corresponding enterprise restructure fund.
For corporations 90 (with Managing Boards)
attached to the branch-managing ministries and the People’s Committees of the
provinces and centrally-run cities, whose member enterprises undertake the
ownership transformation, the fund-managing body shall, on the case-by-case
basis, consider to permit the corporations to retain proceeds from the sale of
State capital at the concerned member enterprises in order to meet the
investment development requirements according to the use plan already approved
by the competent authority.
Article 5.- The
ministries, the People’s Committees of the provinces and centrally-run cities
and corporations 91 shall direct their functional departments and sections:
1. To coordinate with the enterprise finance
agencies of the same level in examining the expenses for ownership
transformation in enterprises under their respective management and determining
the amounts to be paid by such enterprises to the funds.
2. To urge the dependent enterprises that
undertake the ownership transformation, the asset liquidation boards and
enterprise dissolution councils (managed by the ministries, localities and
corporations) to immediately remit to the funds the money gained from the sale,
assignment and equitization of enterprises as well as from the liquidation and
sale of assets of enterprises upon their dissolution or recovered assets and/or
debts which had not been included in the enterprises’ value before the
ownership transformation (after subtracting expenses according to the
prescribed regime).
3. The representatives of the State’s
contributed capital at joint-stock companies and limited liability companies
shall have to inspect and urge the distribution and timely transfer of the
dividends (corresponding to the State’s contributed capital at these
enterprises) into the enterprise restructure funds at all levels.
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USE OF FUNDS
I. TO IMPLEMENT ENTITLEMENT
POLICIES AND PROVIDE SUPPORT FOR LABORERS IN ENTERPRISES UNDERTAKING THE
RESTRUCTURE AND OWNERSHIP TRANSFORMATION
Article 6.- Before the
restructure or ownership transformation of State enterprises, the Managing
Boards or directors (for enterprises without Managing Boards) and the
enterprise renewal boards shall have to coordinate with the enterprise trade
unions in:
1. Listing of and classifying the existing
number of laborers in enterprises being under the restructure and ownership
transformation according to the following subjects:
a/ Laborers who will be trained, re-trained for
transfer to new jobs.
b/ Laborers who will lose their jobs.
c/ Laborers who voluntarily discontinue their
jobs.
d/ Laborers who have their labor contracts
expire.
2. Elaborating plans on the implementation of entitlement
policies toward these laborers under the guidance of the Ministry of Labor, War
Invalids and Social Affairs. The plans on the implementation of entitlement
policies toward laborers of enterprises must clearly determine:
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b/ The enterprises’ self-financing capacity from
the job severance funds.
c/ The deficit proposed to be offset by the
support funds.
3. The lists and plans on the implementation of
entitlement policies toward laborers who will be retrained for transfer to new
jobs, laborers who have their labor contracts expire or voluntarily discontinue
their jobs and laborers who will not be employed, must be publicized at
enterprises and sent together with the enterprise restructure or ownership
transformation plans to the competent levels for consideration and approval as
well as to the enterprise restructure fund-managing bodies for monitoring and
coordination.
Article 7.- The funds’
support levels for the training and retraining of laborers for their continued
employment at enterprises after the restructure and ownership transformation
according to the plans mentioned in Article 6 shall be determined as follows:
1. For laborers to be trained and retrained at State
enterprises after division, splitting or merger: The funds’ support level shall
be equal to 50% of the spending norm prescribed by the State for one-year
training and/or retraining; the training fund deficit shall be accounted and
included into the enterprises’ production and business costs.
2. For laborers to be trained and retrained at
State enterprises after equitization, assignment, sale, business contracting or
lease: The support shall be given according to the actual expenses but shall
not exceed the spending norm prescribed by the State for one-year training
and/or retraining; the training fund deficit shall be accounted and included
into the enterprises’ production and business costs.
3. The spending norm for training and retraining
shall be properly adjusted in each period; in the immediate future, the
training spending norm provided for by the Finance Ministry and applied since
1998 shall apply.
Article 8.- The funds’
support levels for the payment of allowances to laborers who lose or discontinue
their jobs (upon the expiry of their contracts or at their own will) in
enterprises subject to the restructure and ownership transformation according
to the plans mentioned in Article 6 shall be determined as follows:
The support
level from the enterprise restructure fund
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The expense for
payment of allowances to laborers who lose or discontinue their jobs
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The balance of the enterprise’s job
severance fund
- The expenses for payment of job
discontinuation and loss allowances shall comply with the regimes prescribed in
the Labor Code, the Government’s Decree No.198/CP of December 31, 1994 and
Decree No.72/CP of October 31, 1995 as well as the guiding documents of the
Ministry of Labor, War Invalids and Social Affairs.
Article 9.- Basing
themselves on the funds’ support plans and levels already approved by the
competent authorities, enterprises shall proceed with:
- The compilation of dossiers, requesting the
fund-managing bodies to transfer support money.
- The reception of support amounts from the
funds.
- Organization of payments to beneficiaries.
- Account settlement and final settlement with
the enterprise restructure funds.
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- The plan on support for the implementation of
entitlement policies toward laborers in enterprises, which has been approved by
the competent level (attached with the list of laborers entitled to allowances
and the allowance levels).
- The copy of the enterprise’s financial statement
at the time before the restructure and ownership transformation.
- The training contract between the enterprise
and a training establishment (in case the enterprise has no training
establishment).
Article 11.- Settlement
of funding account:
1. For job severance or discontinuation
allowances: within 30 days after receiving the financial supports from the
funds, the enterprises or organizations that receive and use them shall report
the account settlement thereof to the fund-managing bodies.
2. For supports for training and retraining:
within 30 days after completing the training and retraining programs,
enterprises shall have to report the account settlement of the support funding
to the fund-managing bodies.
3. Where the funding is not used up, enterprises
shall have to clearly report the reasons therefor and the handling measures to
the fund-managing agencies as well as the support plan approving agencies for
decision.
4. Within 30 days after receiving the
enterprises’ reports on funding account settlement, the fund-managing bodies
shall have to examine such reports directly with the recipient enterprises or
organizations.
II. CAPITAL SUPPORT AND
INVESTMENT FOR ENTERPRISES
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1. To supplement capital to State enterprises
which need priority for consolidation.
2. To supplement capital to enterprises where
the State capital is not enough for the implementation of preferential policies
on the prices of equities sold to laborers under the plans already approved by
the competent authorities as prescribed in Article 14 of the Government’s
Decree No.44/1998/ND-CP of June 29, 1998.
3. To supplement capital to enterprises where
the State capital is not enough to ensure the dominant proportion of the State
capital.
For enterprises of this category, the funds’
support levels shall be determined on the basis of the State capital proportion
which needs to be maintained in the charter capital structure of enterprises
according to the ownership transformation plans already approved by the
competent authorities as well as the State capital amount actually available in
such enterprises.
4. To supplement capital to enterprises where
the proportion of the State capital to business capital is low, so as to create
conditions for such enterprises to handle their overdue debts and restructure
the debts, thus raising the production and business efficiency before the
transformation.
For enterprises of this category, the funds’
support levels shall be determined on the basis of the enterprises’ plans for
debt restructure before ownership transformation, which have been approved by
the competent authorities; the enterprises’ total overdue debts and actual paying
capacity at the time of issuing decisions on ownership transformation.
Article 13.- Capital
investment for equitized enterprises
1. Form of support: buying back shares issued by
the above-mentioned enterprises in order to implement investment projects.
2. Funds’ support levels and scope:
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Article 14.- Debt-
payment support for State enterprises to be assigned, sold or leased:
1. For enterprises to be assigned to collectives
of laborers: The enterprise restructure funds shall provide support for social
insurance debt payment by enterprises which become insolvent at the time of
issuing decisions on enterprise assignment due to their production and business
losses.
2. For State enterprises to be sold or leased
(then resold to the lessees): The enterprise restructure funds shall provide
support for payment of social insurance debts, bank loans and other payable
debts only in cases where none of the purchasers agrees to inherit debts and
revenues from the lease or sale of enterprises and to recover outstanding debts
and the capital balance in cash at the time of sale is not enough for the
payment. The above-mentioned support for payment shall only be effected on the
basis of the Finance Minister’s decision.
Article 15.- If
enterprises eligible for capital support and supplement by enterprise
restructure funds as mentioned in Articles 12, 13 and 14 above have demand
therefor, they shall have to elaborate plans, asking for the funds’ support,
which shall be sent together with the relevant documents (the plans on
equitization, assignment, sale or lease of enterprises, already approved or
certified by the competent authorities; the decisions ratifying the investment
projects, the share-issuing plans, the plans on debt restructure before
ownership transformation, which have been approved by the competent
authorities; and the enterprises’ financial statements...) to the competent
agencies for consideration and approval of the support plans; and concurrently
to the fund-managing bodies for comments and coordination in implementation.
After the support plans are approved,
enterprises shall send them to the fund-managing bodies for support provision.
Article 16.-
Enterprises which receive capital supports and/or supplements from the funds
shall have to manage and use the support capital sources in strict accordance
with the plans already approved by the competent authorities and submit to the
inspection and supervision by the fund-managing bodies as well as the
enterprise finance agencies. If detecting any acts of using the funds support
capital sources for the wrong purposes and violating the prescribed regime, the
fund-managing bodies and the enterprise finance agencies shall have to report
them to the Finance Minister or the presidents of the People’s Committees of
the provinces or centrally-run cities or the Managing Boards of corporations 91
for decisions to withdraw capital and handle violations according to the
current law provisions.
Chapter III
FUND MANAGEMENT
I. DIVISION OF RESPONSIBILITY
FOR FUND MANAGEMENT
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1. The central enterprise restructure fund shall
be managed by the Finance Minister and used to provide financial supports for
State enterprises attached to the ministries and centrally-run branches in the
process of restructure and ownership transformation; and for the implementation
of entitlement policies toward laborers in such enterprises. The Finance
Ministry shall effect the allocation on the basis of the plans on the use of
revenues from the ownership transformation of State enterprises, which have
been approved by the branch-managing ministries as well as the funds’
capital-balancing capacity.
2. The local enterprise restructure funds shall
be managed by the presidents of the People’s Committees of the provinces and
centrally-run cities, who shall also decide and approve plans on financial
supports for the locally-run State enterprises in the process of restructure
and ownership transformation; and for the implementation of entitlement policies
towards laborers in such enterprises.
3. The enterprise restructure funds at
corporations 91 shall be managed by the corporations’ Managing Boards, which
shall also decide and approve plans on financial supports for member
enterprises of the corporations in the process of restructure and ownership
transformation; and for the implementation of entitlement policies towards
laborers in such enterprises.
Article 18.- Agencies
assisting the Finance Minister, presidents of the People’s Committees of the provinces
and centrally-run cities and Managing Boards of corporations 91 in managing the
funds:
1. The Enterprise Finance Department is the body
to assist the Finance Minister in performing the function of State management
over the operations of the enterprise restructure fund system; appraising plans
on support for enterprises of the ministries and branches; organizing the
inspection and supervision of the use of the enterprise restructure funds’
capital at the centrally-run enterprises; examining the annual final account
settlement reports of the enterprise restructure funds at all levels, and
directly managing the central enterprise restructure fund.
2. The provincial/municipal Finance-Pricing
Departments shall act as the bodies to assist the People’s Committees of the
provinces or centrally-run cities in appraising plans on support for the
locally-run enterprises; inspecting the use of the enterprise restructure
funds’ capital at the locally-run enterprises and exercising the direct
management over the local enterprise restructure funds.
3. The Finance Departments or the
Finance-Accountancy Sections of corporations 91 are the units which assist the
Managing Boards in appraising plans on support for member enterprises,
coordinating with the Enterprise Finance Department in inspecting the use of
the enterprise restructure funds’ capital at enterprises managed by the
corporations and exercising the direct management over the enterprise
restructure funds of corporations 91.
Article 19.- Fund
accounts
1. The enterprise restructure funds shall be
concentrated at the State Treasury system, with the former account
"deposits from equitization of State enterprises" used and renamed
"funds for support of enterprise restructure and equitization". More
concretely:
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b/ The local enterprise restructure funds: shall
be deposited to account No.945.07 with account holders being the presidents of
the provincial/municipal People’s Committees or the authorized persons.
c/ The enterprise restructure funds of
corporations 91: shall be deposited to account No.945.08 with account holders
being the chairmen of the corporations’ Managing Boards or the authorized
persons.
2. The opening, settlement and use of account
"funds for support of enterprise restructure and equitization" shall
comply with the guidance of the central State Treasury.
II. FUND PLANNING AND
REGULATION
Article 20.- The
revenue-expenditure plans and regulation of the enterprise restructure funds
1. Annually, together with the elaboration of
the budget plan, basing themselves on the State enterprise restructure and
ownership transformation plans, the ministries, the People’s Committees of the
provinces and centrally-run cities and corporations 91 shall direct the
enterprise management renewal boards to coordinate with the bodies authorized
to directly manage the funds in drawing up the draft revenues for and expenditures
from the enterprise restructure funds, then reporting them to the ministries,
the People’s Committees of the provinces and centrally-run cities and the
Managing Boards of corporations 91 for approval and submission to the Finance
Ministry (Enterprise Finance Department).
2. On the basis of the situation on the fund
management and use in the reporting year, the enterprise restructure and
ownership transformation plans of the ministries, localities and corporations
as well as the revenue-expenditure plans of the enterprise restructure funds at
all levels, the Enterprise Finance Department of the Finance Ministry shall
evaluate, integrate and report to the Finance Minister plans on the use and
regulation of the fund sources throughout the country.
Article 21.- Regulation
of funds
1. Basing themselves on the mobilization
decisions of the Finance Minister, within 15 days after receiving such
decisions, the mobilized fund-managing bodies shall have to carry out the
procedures to transfer money from the funds to the account of the central
enterprise restructure fund. Past this time-limit, if the mobilized
fund-managing bodies fail to transfer the money, the State Treasuries where the
funds open their accounts shall automatically transfer the funds’ capital sources
to the central enterprise restructure fund under the mobilization decisions of
the Finance Minister and notify such to the bodies managing the mobilized
enterprise restructure funds.
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III. ALLOWANCE PAYMENT AND
SUPPORT PROVISION
Article 22.- The
enterprise restructure funds shall pay allowances and provide supports to
laborers and enterprises eligible therefor only when the latter have complete
support dossiers and plans which have been approved by the competent agencies.
Article 23.- Before the
allocation or payment, the bodies directly managing the enterprise restructure
funds at all levels shall have to re-examine the conditions for, and
calculation of the allowance and support levels for the beneficiaries.
If detecting any errors or ambiguities, the
bodies directly managing the funds shall have to immediately report them to the
agencies that approve the support levels and plans for prompt consideration and
adjustment thereof. Where the approving agencies cannot give reasonable
justifications or supplements to the dossiers or do not adjust the support
levels, the bodies directly managing the funds shall have to obey the order on
spending at the reset level and report it to the Finance Minister for solution.
Article 24.- The
allocation and payment of allowances and supports from the funds to laborers
and enterprises subject to restructure and ownership transformation shall be
effected according to the following order of priority:
1. Financial support for training and
re-training of laborers.
2. Support for implementation of entitlement
policies towards laborers who lose or discontinue their jobs.
3. Support for payment of wage and social
insurance debts.
4. Support for implementation of price
preference policies towards laborers in the equitized State enterprises where
the State capital is not enough therefor.
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6. Capital investment in the equitized State
enterprises according to the plans already approved by the competent
authorities.
Article 25.- Basing
itself on the written approvals of the competent authorities as well as the
authorized spending orders of the bodies directly managing the funds, the State
Treasury shall carry out procedures to transfer allowance and support money to
beneficiary enterprises and subjects.
The State Treasury must not use the funds for other
purposes or for the payment of expenditures contrary to the provisions of this
Regulation.
IV. REPORTING-ACCOUNTING
REGIME
Article 26.- The
enterprise restructure funds at all levels shall have to open accounting books
and fully account all revenues and expenditures and keep vouchers in strict
compliance with the State’s prescribed regime.
A fiscal year of the enterprise restructure
funds shall commence on January 1st and ends on December 31st. The first fiscal
year shall be counted from the day a fund starts its operations till the last
day of the year.
Article 27.- Monthly
and quarterly, the bodies managing the enterprise restructure funds at all
levels (the presidents of the People’s
Committees of the provinces and centrally-run cities for the local enterprise
restructure funds; and the Managing Boards of corporations, for enterprise
restructure funds of corporations 91) shall have to report the situation on the
fund management and use to the Finance Minister. In necessary cases, the
enterprise restructure funds at all levels shall also have to promptly report
and explain matters related to the situation on the fund management and use at
the Finance Minister’s
request.
Article 28.- At the end
of a fiscal year, the bodies managing the enterprise restructure funds at all
levels shall, within 45 days, have to direct and urge the making and sending of
the fund final account settlement reports to the Finance Ministry (Enterprise
Finance Department) for coordination in examination, consideration and submission
to the Finance Minister for ratification and integration into a report to the
Government.
A fund final account settlement report must
fully and honestly reflect the fund situation at the time of making the report;
the revenue-expenditure situation and remaining problems in the fund management
work such as the uncollected or unspent amounts; the amounts overspent or
uncovered by any sources.., which shall be attached with the fund balance
certification by the State Treasury where the fund opens its account.
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Article 29.- The
enterprise restructure funds shall submit to the regular and periodical
inspection and supervision by the Finance Ministry.
On the basis of the reports on the fund
management and use situation in localities and corporations 91, the Enterprise
Finance Department under the Finance Ministry shall work out and implement
plans for inspection of the fund management and use by the Finance Minister’s decisions.
Article 30.- Final
account settlement of funds
1. Annually, the enterprise restructure
fund-managing bodies at all levels shall have to make the final account
settlement of the funds’
revenues and expenditures with the Finance Ministry.
2. Within 90 days after receiving the final
account settlement reports of the enterprise restructure funds at all levels,
the Enterprise Finance Department under the Finance Ministry shall have to
assist the Finance Minister in examining such reports.
3. The results of examination of the funds’ final account settlement
reports shall be notified to the presidents of the People’s Committees of the provinces
and centrally-run cities and the Managing Boards of corporations 91, and
submitted to the Finance Minister for consideration and approval.
Chapter IV
HANDLING OF VIOLATIONS
Article 31.- Acts of
violating the provisions of this Regulation shall, depending on their nature
and seriousness, be handled according to the current law provisions.
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FOR THE FINANCE MINISTER
VICE MINISTER
Tran Van Ta