Seven prohibited acts in management and investment of State capital proposed

Seven acts will be prohibited in the field of management and investment of State capital in enterprises. — Photo baochinhphu.vn

HÀ NỘI — In the amended draft of the Law on Management and Use of State Capital Invested in Production and Business in Enterprises, the Ministry of Finance (MoF) proposes seven prohibited acts in the field of management and investment of State capital in enterprises.

The MoF is proposing to develop a Law on Management and Use of State Capital Invested in Production and Business in Enterprises (amended), Law No 69/2014/QH13.

Accordingly, seven prohibited acts in the field of management and investment of State capital in enterprises are listed below:

State capital investment in enterprises is not in accordance with the objectives, competence, scope, order and procedures prescribed by law;

Improperly interfering with functions, tasks and powers in production and business activities of enterprises;

Improperly exercising the rights and responsibilities of the capital owner's representative agency and the capital owner's representative in the management and investment of State capital in the enterprise;

Supervising, examining and inspecting the investment of capital in enterprises that are not in accordance with the functions, tasks and powers prescribed by law;

Providing dishonest, inaccurate and incomplete information and reports as prescribed by law;

Disclosing and using information of enterprises, capital ownership representative agencies, State management agencies in contravention of the provisions of law;

Violating regulations causing damage to enterprises, capital owners and the State.

In addition, the amended draft law also specifies general principles on management and investment of State capital in enterprises.

The MoF said that in the recent period, a number of policies, guiding opinions and legal systems related to the management and use of State capital invested in production and business at enterprises had changed.

The process of implementing the Law on Management and Use of State Capital Invested in Production and Business at Enterprises (amended) and guiding documents, through review, had revealed a number of shortcomings and limit ations, which had not promptly solved the problems in the actual production and business activities of enterprises.

Therefore, it was necessary to review and amend Law No 69/2014/QH13 to suit reality and restructure State-owned enterprises in the near future.