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THE PRIME
MINISTER
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No.
61/2009/QD-TTg
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Hanoi, April 17,
2009
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DECISION
ISSUING THE REGULATION ON ORGANIZATION AND OPERATION OF
PRIVATE UNIVERSITIES
THE PRIME MINISTER
Pursuant to the December 25,
2001 Law on Organization of the Government;
Pursuant to the June 14, 2005 Education Law;
Pursuant to the Government's Decree No. 75/2006/ND-CP of August 2, 2006,
detailing and guiding the implementation of a number of articles of the
Education Law;
At the proposal of the Minister of Education and Training,
DECIDES:
Article 1.
To issue the Regulation on organization and operation of
private universities.
Article 2.
This Decision takes effect 45 days from the date of its
signing.
This Regulation replaces the
Regulation on organization and operation of private universities issued
together with the Prime Minister's Decision No. 14/2005/QD-TTg of January 17,
2005.
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Article 3.
Ministers, heads of ministerial-level agencies, heads of
government-attached agencies, presidents of provincial-level People's
Committees and private universities shall implement this Decision.
FOR THE PRIME
MINISTER
DEPUTY PRIME MINISTER
Nguyen Thien Nhan
REGULATION
ON ORGANIZATION AND OPERATION OF PRIVATE UNIVERSITIES
(Issued together with the Prime Minister's Decision No. 61/2009/QD-TTg of
April 17, 2009)
Chapter I
GENERAL PROVISIONS
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1. This Regulation provides for
the organization, management and operation of private universities.
Including their organization and
personnel; lecturers, cadres, employees and learners; training, scientific
research and international cooperation: finance; property; inspection,
examination, commendation and handling of violations.
2. Private universities are
founded by social organizations, socio-professional organizations, economic
organizations or individuals that invest in the building of their material
foundations and ensure funding for their operation with non-state budget
capital. Private universities operate according to this Regulation, their
charters and law.
Article 2.
Status of private universities
1. A private university has the
legal person status and a seal and may open accounts at banks and state
treasuries.
2. Private universities have the
same legal status, functions, tasks, obligations and interests as public
universities in the national education system.
Article 3.
Interpretation of terms
1. "Capital
contribution" means the contribution of assets by a party to a university
in order to become its owner. Assets for capital contribution may be in Vietnam
dong (VND), gold, foreign currencies, land use right value (land), intellectual
property right value or other property as stated in the Regulation on
organization and operation of the university. Total value of assets contributed
by individuals shall be converted into Vietnam dong at the exchange rate set by
the State Bank at the time of capital contribution for the creation of
university capital.
2. "Common owner"
means the owner of assets under common ownership by integration contributed by
organizations and individuals as well as assets increased in the university's
operation process.
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4. "Contributed capital
portion" means the proportion (in %) of capital amount contributed by an
owner to the charter capital.
5. "Capital portion with
voting right" means a contributed capital portion which entitles its owner
to vote on issues falling within the deciding power of the Shareholders'
General Meeting. Capital share with voting right of a private university shall
be decided by the Shareholders' General Meeting.
6. "Founding member"
means a person directly involved in proposing and preparing for the founding of
a university right from the beginning; in formulating and approving the
university's first Regulation on organization and operation, who has
contributed a capital amount in accordance with regulations of the university.
7. "Share" means an
equally divided part of the charter capital.
8. "Shareholder" means
the owner of at least one share. A shareholder may be institutional or
individual. Shareholders holding capital portions with voting right are called
voting shareholders. Shareholders with capital portions insufficient to have
the voting right are called ordinary shareholders.
9. "Permanent lecturers and
cadres" mean those who work under long-term contracts (of one year or
longer) at a university, who neither belong to the state payroll nor work under
long-term contracts at other universities, other agencies or organizations; who
get their salaries, insurance premiums and policy benefits paid by the
university according to state regulations; and who have the rights and
obligations of staff on the payroll of universities as provided for by law.
Article 4.
State management of private universities
Private universities are subject
to the state management of education by the Ministry of Education and Training;
and to the territory-based administration by the People's Committees of the
provinces or centrally run cities (below collectively referred to as
provincial-level People's Committees) where they are headquartered.
Article 5.
Party and mass organizations
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Socio-political organizations
and social organizations shall be established and operate in private
universities in accordance with the Constitution and law.
Article 6.
Tasks and powers of private universities
Tasks and powers of private
universities comply with their charters and other provisions of law.
A private university may not
lend its name to any individual or organization to conduct illegal activities
which fail to accord with its principles and purposes. It shall take
responsibility for its illegal activities.
Article 7.
Founding, termination, merger, division, split and dissolution
The founding, operation
termination, merger, division, split and dissolution of private universities
comply with the Prime Minister's Decision No. 07/2009/QD-TTg of January 15,
2009, on conditions and procedures for founding, operation termination, merger,
division, split and dissolution of universities.
The founding of a private
university requires at least 3 members (institutional or individual) to contribute
charter capital, each of whom may contribute charter capital at not more than 2
private universities or colleges which must not exceed 51 % of the charter
capital of each university.
Chapter II
ORGANIZATION AND
PERSONNEL
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A private university has its
organizational structure meeting the relevant requirements in its charter and
suitable to its conditions and training scale at each of its development
stages.
The organizational structure of
a private university consists of:
1. The Board of Directors.
2. The rector and vice rectors.
3. The Control Board.
4. The Academic and Training
Council.
5. Specialized departments
(divisions).
6. University-run faculties and
disciplines.
7. Faculty-run disciplines.
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9. Party and mass organizations.
Article 9.
Shareholders' General Meeting
1. The Shareholders' General
Meeting includes all voting shareholders and ordinary shareholders of whom the
latter have no right to vote but may raise opinions at meetings.
2. The Shareholders' General
Meeting has the following rights and tasks:
a/ To identify objectives and
orientations for university construction and development: annual and periodical
plans; the expansion, alteration, adjustment of training disciplines, scale and
degrees, and orientations for scientific and technological activities in line
with the university development strategy;
b/ To elect, dismiss, relieve
from office members of the Board of Directors or the Control Board of the
university; to settle requirements on the supplementation or replacement of
members of the Board of Directors.
c/ To adopt annual financial
statements of the university;
d/ To approve regulations on
capital portions with voting right and other internal regulations of the
university such as criteria for selection of members of the Board of Directors,
the Control Board and the rector:
e/ To exercise other rights and
perform other tasks according to the Regulation on organization and operation
of the university.
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In case the Board of Directors
seriously violates the Regulation on organization and operation of the
university, the Control Board may convene an irregular meeting of the
Shareholders' General Meeting and concurrently the Board of Directors thereof.
All costs of convening and
organizing a meeting of the Shareholders' General Meeting shall be accounted
into the operation funding of the university.
A meeting of the Shareholders'
General Meeting shall be convened through sending written invitations, enclosed
with a tentative agenda and related documents, to all shareholders at least 7
days before the meeting.
4. A meeting of the
Shareholders' General Meeting shall be considered valid when attended by
shareholders holding at least 51 % of total shares with voting right. A
specific proportion shall be set in the Regulation on organization and
operation of the university but must not be lower than the above-mentioned
percentage.
5. Proceedings at meetings of
the Shareholders' General Meeting must be recorded in writing and adopted right
at the meetings, with signatures of their chairpersons and secretaries, for archive.
Decisions of the Shareholders' General Meeting shall be adopted by voting or
secret ballot at meetings. A Shareholders' General Meeting decision shall be
considered valid when it is voted for by attending shareholders holding at
least 51% of total shares with voting right. A specific proportion shall be set
in the Regulation on organization and operation of the university.
Article 10.
Board of Directors
1. The Board of Directors is the
managing body and the sole representative of ownership of a private university;
responsible for organizing the implementation of resolutions of the
Shareholders' General Meeting and competent to decide on organizational,
personnel, financial, property, planning and plan issues, and development
investment plans and orientations of the university in accordance with law.
2. The Board of Directors shall
be elected by the Shareholders' General Meeting of the private university and
recognized by decision of the Minister of Education and Training. The Board of
Directors has between 3 and 11 members, including the chairman; a deputy
chairman (when necessary) and members. At least two-thirds of its members must
possess university or higher degrees.
Members of the Board of
Directors of a private university must be representatives of organizations or
individuals that hold a necessary quantity of shares as required by that
university.
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3. The Board of Directors of the
first term of a private university is established based on nomination by the
university's founding members and elected by secret ballot. From the second
term, the establishment of the Board of Directors must comply with Clause 2 of
this Article.
4. The Board of Directors shall
meet once every three months. The convention of irregular meetings of the Board
shall be decided by its chairman but must be agreed upon by at least one-third
of its members. Resolutions of the Board of Directors shall be adopted through
open voting at meetings. Resolutions of the Board of Directors shall be
elaborated on the principle that each member of the Board has one voting card
and all decisions will be effective only when they are approved by more than
half of total members of the Board of Directors. In case the numbers of votes
for and votes against are equal, the final decision will rest on the side with
the opinion of the chairman of the Board of Directors.
5. The addition or change of
members of the Board of Directors must be approved by secret ballot by the
Shareholders' General Meeting.
In case the number of members of
the Board of Directors decreases by more than one-third compared to the number
set in the Regulation on organization and operation of the university, within
60 days after this happens, the chairman of the Board of Directors shall
convene a meeting of the Shareholders' General Meeting in order to elect
additional members to the Board of Directors.
6. Dismissal, relief from office
of members of the Board of Directors
a/ A member of the Board of
Directors shall be dismissed in the following cases:
- Violating law or committing
serious violations of regulations of the Ministry of Education and Training,
especially in the enrolment, training and management, which, however, are not
serious enough for penal liability examination;
- Being dead or having
restricted civil act capacity;
- Voluntarily resigning:
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- Other cases specified by the
Regulation on organization and operation of the university.
b/ A member of the Board of
Directors shall be relieved from office in one of the following cases:
- Being examined for penal
liability;
- Having committed a serious
violation of law which, however, is not serious enough for penal liability
examination;
- Violating seriously the
Regulation on organization and operation of the university and requested to be
relieved from office by the Shareholders' General Meeting.
Article 11.
Tasks and powers of the Board of Directors
The Board of Directors has the
following tasks and powers:
1. To elaborate the university's
Regulation on organization and operation for adoption by the Shareholders'
General Meeting; to propose the Shareholders' General Meeting to consider,
amend and supplement the university's rules and regulations when necessary or
propose the addition, dismissal or relief from office of members of the Board
of Directors.
2. To set the university's
strategic orientations for development and direction of its organization and
operation, to be submitted to the Shareholders" General Meeting at its
meetings. To elaborate and issue the university's regulations on financial
mechanisms and entitlements as well as revenue and expenditure norms in
accordance with law and financial management regulations.
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4. To elect the university's
rector and submit the election result to the Minister of Education and Training
for consideration and issue of a recognition decision. To decide on appointment
of vice rectors at the nomination of the rector and the Shareholders' General
Meeting.
5. To approve the dismissal,
relief from office of vice rectors; to propose competent authorities to dismiss
the rector, the chairman and vice chairman of the Board of Directors according
to regulations.
6. To approve the overall scheme
on organizational apparatus, payroll and issues related to the university's
organization and personnel at the proposal of the rector.
7. To identify basic principles to
handle affairs related to training, scientific research, technological
development, services, construction of material foundations and external
relations of the university annually and in each period.
8. To monitor the leadership and
administration by the rector and the Managing Board in order to ensure that all
the university's activities are conducted in accordance with law; to abide by
resolutions of the Shareholders' General Meeting and the Board of Directors.
9. To convene regular or
extraordinary meetings of the Shareholders' General Meeting.
Article 12.
Control Board
1. The Control Board of a
private university consists of representatives of its institutional or
individuals shareholders that hold a quantity of shares up to the level set in
the university's regulations; is elected by the Shareholders' General Meeting,
and has between 3 and 5 members, at least one of whom has a degree in
accountancy. The head of the Control Board is elected directly by the
Shareholders' General
Meeting.
The Control Board shall monitor
operations of the university and take responsibility before the Shareholders'
General Meeting for its performance according to regulations. The Control Board
is also answerable to the Shareholders' General Meeting, the Board of Directors
and permanent cadres, lecturers and employees of the university, for its
reports and activities.
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3. A term of office of the
Control Board coincides with that of the Board of Directors.
Article 13.
Rights and tasks of the Control Board
The Control Board has the
following rights and tasks:
1. To monitor and inspect
activities of the university; its Board of Directors, rector, the Managing
Board and organizations and units.
2. To examine the rationality
and legality in the management and administration of the university, and the
recording of accounting books and financial statements.
3. To appraise the university's
annual financial statements; check details of issues related to the management
and administration of the operation of the university.
4. To regularly notify the Board
of Directors of its operation results and contents of its reports, conclusions
and proposals before they are officially approved by the Shareholders' General
Meeting.
5. To report to the
Shareholders' General Meeting on the results of operation of the university at
the meetings of the General Meeting.
6. To exercise other rights and
perform other tasks according to the university's Regulation on organization
and operation.
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8. In the course of performing
its tasks, the Control Board shall ensure that its operations do not obstruct
or interrupt operations of the Board of Directors of the university.
Article 14.
Chairman of the Board of Directors
1. The chairman of the Board of
Directors is head of the Board of Directors; elected by the Board of Directors
and recognized by decision of the Minister of Education and Training. The
chairman of the Board of Directors must possess university or higher degree.
The chairman of the Board of
Directors may concurrently act as the rector if meeting the criteria set for
university teachers and rectors.
2. The chairman of the Board of
Directors has the following powers and tasks:
a/ To assume the prime
responsibility for directing and running operations of the Board of Directors.
To be responsible for preparing agendas, contents and documents of meetings of
the Board of Directors; to have the right to convene meetings of the Board of
Directors; and to assume the prime responsibility for resolutions and the
implementation of resolutions of the Board of Directors;
b/ To sign and submit to the
Minister of Education and Training for issuance a decision recognizing the
rector of the university. To approve decisions to appoint vice rectors of the
university at the proposal of the Board of Directors and approval of the
Shareholders' General Meeting;
c/ When necessary, to sign
decisions to nominate an acting rector of the university who may run the
university for not more than 1 month pending the nomination of a rector
according to regulations;
d/ To exercise other powers and
perform other tasks according to the Regulation on organization and operation
of the university.
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4. In case the chairman of the
Board of Directors is absent for a certain period according to regulations of
the private university, he/she must mandate the vice chairman (if any) of the
Board of Directors or one of the remaining members of the Board of Directors to
assume his/her responsibilities in that period. The mandate shall be made in
writing and publicly notified, and concurrently reported to the educational
administration agency and local competent management agency. The mandate period
must not exceed 6 months and two successive mandates are not allowed.
The private university may
nominate an acting chairman of the Board of Directors. The election and
recognition of the acting chairman of the Board of Directors must comply with
the principles applied to the election of the chairman of the Board of
Directors. The time for recognition of the acting chairman of the Board of
Directors must not exceed 6 months from the date of issue of the recognition
decision and two successive recognitions of the same individual are not
allowed.
Article 15.
Rector
1. The rector of a private
university shall meet qualifications for teachers in accordance with the
Education Law; hold the academic title of associate professor or doctorate, have
been involved in tertiary education administration for at least 5 years as
chief of a discipline, division or section: have professional experience,
capacity and prestige within the university; and be physically fit to undertake
the assigned tasks, and other than a civil servant on the state payroll.
2. The rector of a private
university shall be nominated by the Board of Directors on the principle of
secret ballot with more than half of the votes being cast for; be approved by
the Shareholders" General Meeting and recognized by decision of the
Minister of Education and Training.
A term of office of the rector
coincides with the term of the Board of Directors.
3. The rector of a private
university is the university's representative in the implementation of assigned
tasks; shall administer operations of the university and take responsibility
for his/her decisions on all issues related to the university before the Board
of Directors, the Ministry of Education and Training and law.
4. In addition, the rector of a
private university has the following powers and responsibilities:
a/ To organize the
implementation of resolutions of the Board of Directors;
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c/ To organize the mobilization,
management and use of the university's resources, training, scientific and
technological and other activities according to regulations, ensuring quality
and compliance with law and plans already approved by the Board of Directors
for development of the university;
d/ To organize accounting work
and financial and property management according to law;
e/ To formulate cost estimates
and annual financial settlements to be submitted to the Board of Directors for
approval. To organize the implementation of financial plans according to
regulations of the university. To periodically report to the Board of Directors
and relevant management authorities on financial matters and operations of the
university;
f/ To implement the laws on
labor, salary, remuneration, insurance, tuition, commendation and disciplining
of lecturers, cadres, employees and learners of the university;
g/ To implement regulations on
enrolment, organize the management of training, tests, examinations, recognition
of graduation and award of diplomas and certificates; to issue internal rules
and regulations for administration of the university;
h/ To build up and organize
scientific research, technology transfer and domestic and international
cooperation activities;
i/ To organize the maintenance
of order, security and safety in the university;
j/ To nominate vice rectors for
consideration and appointment by the Board of Directors;
k/ To report to the
Shareholders' General Meeting on the university's training activities according
to regulations and to reserve his/her opinions on decisions of the Board of
Directors for reporting to the Ministry of Education and Training or competent
authorities for consideration and handling.
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1. Vice rectors of a private
university must meet the criteria for teachers set in the Education Law and the
university's charter; and possess university or higher degree and good health.
Vice rectors are assistants to the rector. A vice rector in charge of training
and scientific research must meet the requirements on academic title and degree
as for the rector; be appointed under decision by the chairman of the Board of
Directors after being approved by the Board of Directors by secret ballot with
a majority of votes for.
2. A vice rector has the
following powers and responsibilities:
a/ To assist the rector in
managing and administering operations of the university, directly run a number
of work domains and handle affairs assigned by the rector;
b/ When handling affairs
assigned by the rector, the vice rector shall act on behalf of the rector and
take responsibility before law and the rector for his/her performance;
c/ A term of office of the vice
rector coincides with the term of office of the rector.
Article 17.
Academic and Training Council
1. The Academic and Training
Council of a private university consists of the rector, vice rectors,
department heads, a number of division chiefs, representatives of professors,
associate professors and principal lecturers of the university, and a number of
scientists, education administrators and representatives of socio-economic
organizations outside the university which are interested in. and knowledgeable
about, tertiary education.
2. The Academic and Training
Council is set up under decision of the rector and chaired by the rector. A
term of office of the Council corresponds to the term of office of the rector.
3. The Academic and Training
Council shall advise the rector on:
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b/ Training and retraining of
the university's permanent lecturers, cadres and employees;
c/ Domestic and international
cooperation in training and scientific research.
4. The Academic and Training
Council shall meet at least once every 6 months or extraordinarily when
convened by its chairman.
5. Members of the Academic and
Training Council may propose plans of action of the Council. Conclusions of
meetings of the Council must be notified to the university's departments and
disciplines.
6. A term of office of the
Academic and Training Council corresponds to the term of office of the rector.
Article 18.
Divisions, departments and disciplines
The functions and tasks of
divisions, departments or disciplines of a private university are the same as
those of public universities. Depending on its training scale and tasks, the
rector may propose the Board of Directors to organize divisions, departments
and disciplines in a way to ensure effective operation of the university.
Heads and deputy heads of
divisions, departments and disciplines shall be nominated by the rector and
appointed by decision of the chairman of the Board of Directors.
Article 19.
Scientific and technological institutions, training service establishments, and
production and business establishments in a private university
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2. Production and business
establishments in a private university shall be established based on its
training tasks and operate in accordance with law.
3. Other organizations serving
training:
a/ A private university has an
information and documentation center to serve training, scientific and
technological activities. The information and documentation center shall
manage, supplement and supply information sources and materials on domestic and
foreign sciences and technologies in the university's operation fields; collect
and preserve books, journals, tapes, discs and theses which have been defended
at the university, the university's publications and other archives; and guide
and manage intellectual property work of the university. It shall operate
according to regulations issued by the rector and the State's regulations;
b/ A private university also has
training, scientific research and technological service establishments suitable
to its development conditions.
Chapter
III
LECTURERS, CADRES,
EMPLOYEES AND LEANERS
Article 20.
Lecturers
1. Lecturers of a private university
must meet criteria on moral and professional qualifications and health
conditions according to its charter and Point e, Clause 1 of Article 77, and
Article 79 of the Education Law. Lecturers of a private university have
responsibilities and powers as defined in Articles 70,71,72,73.74 and 75 of the
Education Law and relevant laws.
2. Permanent lecturers of a
private university will be recruited according to law; entitled to
remunerations and wages, and to pay social insurance and health insurance
premiums; enjoy benefits corresponding to their capital portions, and may join
in activities of social and mass organizations in accordance with law.
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4. Lecturers of a private
university shall strictly observe the Party's lines and policies and the
State's law; fully abide by the university's charter and regulations of the
Ministry of Education and Training, the Regulation on organization and
operation of the university and regulations issued by the university.
5. Permanent lecturers of
private universities who fully meet the set criteria may be considered for the
award of "Outstanding Teacher". "People's Teacher", Professor
or Associate Professor title and commemorative medals for the cause of
education.
6. Guest lecturers of private
universities have the same rights and duties as guest lecturers of public
universities.
Article 21.
Cadres, employees
1. Permanent cadres and
employees of a private university are entitled to remuneration and salaries
according to operation results of the university; may pay social and health
insurance premiums, enjoy benefits corresponding to their capital portions and
all other benefits during festive and new-year holidays as prescribed by law.
They may also join in political, social and mass organizations in accordance
with law.
2. Cadres and employees
recruited for short-term jobs according to law are entitled to salaries
according to the university's regulations and the minimum salary level set by
the State; have health and social insurance premiums paid and other benefits
assured by the university during their working duration at the university in
accordance with law.
3. Cadres and employees of a
private university shall strictly observe the Party's undertakings, line and
policies and the State's law: fully abide by the charter of the university and
regulations of the Ministry of Education and Training, the Regulation on
organization and operation of the university and relevant regulations issued by
the university.
Article 22.
Tasks and rights of learners
Learners at a private university
shall perform tasks and exercise rights provided for in the Education Law and
the charter of the university.
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TRAINING SCIENTIFIC AND
TECHNOLOGICAL ACTIVITIES, AND INTERNATIONAL COOPERATION
Article 23.
Training activities
A private university shall
organize the formulation of training programs, teaching and learning plans and organize
the enrolment; manage the training process, assess the teaching and learning
process; award diplomas and certificates and accredit the university education
quality in accordance with its charter.
Article 24.
Scientific and technological activities
A private university shall
organize and conduct scientific and technological activities, provide
scientific consultancy services, and carry out technology transfer, production
and business activities in its training disciplines; set up research and development
centers; organize the management of an information and documentation system;
distribute scientific publications and documents for training activities in
accordance with the Law on Science and Technology and the university's charter.
Article 25.
International cooperation
A private university shall
perform tasks of international cooperation in accordance with its charter.
Chapter V
FINANCE AND PROPERTY
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1. A private university shall
operate on the principle of voluntary capital contribution, financial autonomy,
self-balancing of revenue and expenditure, observance of the laws on
accountancy, statistics and obligations towards the state budget, and other
current relevant regulations
2. A private university may
borrow capital from credit institutions for investment in the expansion of its
material foundations, improvement of training quality, scientific research,
production and service provision.
3. A private university will be
allocated with funds by the State for performing tasks ordered by the latter.
Article 27.
Financial sources
Financial sources of a
university include:
1. Capital contributed by
shareholders and financial sources added from annual operation results of the
university.
2. Other financial sources,
including:
a/ Tuitions and fees paid by
learners in accordance with law;
b/ Revenues from cooperation
activities in training, scientific research, technology transfer, trial
production and other labor, production and service activities as prescribed by
law;
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d/ Investments, aid, donations
and gifts (in cash or kind) from domestic or foreign organizations and
individuals;
e/ Loans provided by banks,
credit institutions or individuals;
f/ Other lawful revenues.
Article 28.
Expenditure items
1. Salaries, salary allowances,
remuneration, bonuses and social and health insurance premium payments for
laborers; expenses on training and retraining to raise qualifications of
cadres, lecturers and employees of the university.
2. Expenses for learners, on
scholarships and rewards.
3. Expenses on cultural,
physical training and sports activities.
4. Expenses on teaching,
learning, training, job training, scientific research, deployment and application
of technology, and activities serving teaching and learning.
5. Expenses on administrative
affairs.
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7. Expenses on depreciation of
fixed assets.
8. Expenses on payment of loan
principals and interests.
9. Expenses on humanitarian and
charity activities.
10. Other expenses under the
university's regulations (its internal expenditure rules), which are not in
contravention of law.
Article 29.
Management of finance and property
1. Finance and property of a
private university are created from its revenue sources specified in Article 26
of this Regulation. Specific regulations on financial expenditure and property
use must be issued by the Board of Directors in a transparent manner.
2. A private university shall
report its annual financial activities to its managing agency and concerned
local finance agency.
3. Annual cost estimates and
financial settlements of a private university shall be submitted by the
university's rector, approved by the Board of Directors and reported publicly
at annual meetings (or conferences) of the Shareholders' General Meeting.
4. Annually, the university's
property must be inventoried, revaluated and audited in accordance with law.
The university may set a rapid depreciation rate for its fixed assets to
recover capital, which, however, must not exceed the maximum depreciation rate prescribed
by law for enterprises. It shall elaborate an internal spending regulation to
serve as a legal basis for its financial management.
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a/ Assets invested or
contributed by organizations and individuals;
b/ Assets increased from the
university's operation results;
c/ Assets acquired from
donation, presentation or assistance;
d/ Tuitions and fees collected
from learners according to law.
6. Property ownership rights
Assets of a private university
created from capital contributed by shareholders belong to private ownership of
capital contributors in proportion to their shares. Assets acquired from
donation, presentation or assistance or increased from the university's
operation results come under common ownership of the private university. Assets
under private or common ownership shall be protected by the State in accordance
with law.
7. The private university shall
observe financial publicity regulations and submit to financial inspection
under state regulations and at the request of the Control Board. It is subject
to inspection by financial agencies according to the law on the use of funds
and the increase and decrease of its property or capital sources.
Article 30.
Revenue and use of revenue
Total revenue of a private
university may, after covering necessary expenses for its activities specified
in Article 28 of this Regulation, be used for the following:
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2. Deduction for setting up the
university's investment development fund and other funds according to
resolutions of the Board of Directors and Shareholders' General Meeting.
3. Distribution to shareholders
corresponding to their capital portions after covering expenses defined in
Clauses 1 and 2 of this Article.
4. The levels of payment to
laborers and profit distribution to capital-contributing members shall be
decided by the Board of Directors based on resolutions of the Shareholders'
General Meeting and in line with the Regulation on organization and operation
of the university.
Article 31.
Transfer of ownership rights and capital withdrawal
The ownership right transfer and
capital withdrawal must ensure the development and stability of a university.
1. Capital-contributing
shareholders may transfer or withdraw part or all of their contributed capital
according to regulations approved by the Shareholders' General Meeting.
Specific regulations on ownership right transfer and capital withdrawal in the
university must comply with the Enterprise Law. The private university may take
the initiative in formulating its financial regulations for adoption by the
Shareholders' General Meeting before they are approved by the Board of
Directors.
2. Shareholders may transfer
part or the whole of their contributed capital to others according to the
following provisions:
a/ A shareholder that wishes to
transfer part or the whole of his/her capital portion shall, first of all,
transfer that portion to other shareholders at a negotiable price at the time
of transfer;
b/ The transfer may be made to
persons other than the university's shareholders only when other shareholders
of the university refuse to buy or do not buy up the transferred capital.
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Chapter VI
INSPECTION, EXAMINATION,
COMMENDATION AND HANDLING OF VIOLATIONS
Article 32.
Inspection, examination
1. A private university shall
organize self-inspection of its operations according to current regulations.
2. A private university is
subject to inspection and examination by competent state agencies in accordance
with law.
Article 33.
Commendation
Collectives and individuals
(leaders, lecturers, cadres and employees) of a private university that make
contributions to the cause of education and learners who record outstanding
achievements in study and scientific research will be commended in accordance
with law.
Article 34.
Handling of violations
If a private university commits
acts in violation of law or regulations of the Ministry of Education and
Training; fails to meet training conditions or violate other regulations on
environment, prestige of the education sector, the university or concerned
locality, the Ministry of Education and Training shall, depending on the
severity of its violation, consider and handle the violation according to
regulations applicable to state management agencies in charge of education:
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2. To impose administrative
sanctions, issues decisions annulling the recognition of the chairman of the
Board of Directors or the rector in necessary cases, and propose legal and
competent bodies to consider and handle violations beyond its competence.
3. To decide on definite or
indefinite suspension of enrolment or training activities pending the handling.
4. To propose the Prime Minister
to suspend the operation of. or dissolve, a private university.