{"id":2028,"date":"2021-07-28T11:22:58","date_gmt":"2021-07-28T04:22:58","guid":{"rendered":"https:\/\/pl-partners.vn\/?p=2028"},"modified":"2023-01-13T17:06:15","modified_gmt":"2023-01-13T10:06:15","slug":"new-highlights-of-the-law-on-enterprise-2020-part-3","status":"publish","type":"post","link":"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/","title":{"rendered":"New highlights of the law on enterprise 2020 \u2013 Part 3"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">N\u1ed9i dung b\u00e0i vi\u1ebft<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#PART_3_AMENDMENTS_REGARDING_LIMITED_LIABILITY_COMPANY_AND_JOINT_STOCK_COMPANY\" title=\"PART 3: AMENDMENTS REGARDING LIMITED LIABILITY COMPANY AND JOINT STOCK COMPANY\">PART 3: AMENDMENTS REGARDING LIMITED LIABILITY COMPANY AND JOINT STOCK COMPANY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#1_LIMITED_LIABILITY_COMPANIES_ARE_ALLOWED_TO_ISSUE_BONDS\" title=\"1. LIMITED LIABILITY COMPANIES ARE ALLOWED TO ISSUE BONDS\">1. LIMITED LIABILITY COMPANIES ARE ALLOWED TO ISSUE BONDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#2_INSPECTION_COMMITTEE_IS_NOT_REQUIRE\" title=\"2. INSPECTION COMMITTEE IS NOT REQUIRE\">2. INSPECTION COMMITTEE IS NOT REQUIRE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#1_AMENDMENTS_ON_RIGHTS_AND_OBLIGATIONS_OF_ORDINARY_SHAREHOLDERS\" title=\"1. AMENDMENTS ON RIGHTS AND OBLIGATIONS OF ORDINARY SHAREHOLDERS\">1. AMENDMENTS ON RIGHTS AND OBLIGATIONS OF ORDINARY SHAREHOLDERS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#2_AMENDMENTS_ON_CONDITIONS_FOR_HOLDING_THE_GENERAL_MEETING_OF_SHAREHOLDERS\" title=\"2. AMENDMENTS ON CONDITIONS FOR HOLDING THE GENERAL MEETING OF SHAREHOLDERS\">2. AMENDMENTS ON CONDITIONS FOR HOLDING THE GENERAL MEETING OF SHAREHOLDERS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#3_THE_MINUTES_OF_GMS_ARE_STILL_EFFECTIVE_WITHOUT_THE_SIGNATURES_OF_THE_CHAIR_AND_SECRETARY\" title=\"3. THE MINUTES OF GMS ARE STILL EFFECTIVE WITHOUT THE SIGNATURES OF THE CHAIR AND SECRETARY\">3. THE MINUTES OF GMS ARE STILL EFFECTIVE WITHOUT THE SIGNATURES OF THE CHAIR AND SECRETARY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#4_RIGHTS_TO_FILE_A_LAWSUIT_OF_A_SHAREHOLDER_AND_A_GROUP_OF_SHAREHOLDERS\" title=\"4. RIGHTS TO FILE A LAWSUIT OF A SHAREHOLDER AND A GROUP OF SHAREHOLDERS\">4. RIGHTS TO FILE A LAWSUIT OF A SHAREHOLDER AND A GROUP OF SHAREHOLDERS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#5_THE_TERM_OF_OFFICE_OF_INDEPENDENT_DIRECTORS_SHALL_NOT_EXCEED_02_TERMS\" title=\"5. THE TERM OF OFFICE OF INDEPENDENT DIRECTORS SHALL NOT EXCEED 02 TERMS\">5. THE TERM OF OFFICE OF INDEPENDENT DIRECTORS SHALL NOT EXCEED 02 TERMS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#6_SUPER-VOTING_SHARES_CAN_BE_TRANSFERRED\" title=\"6. SUPER-VOTING SHARES CAN BE TRANSFERRED\">6. SUPER-VOTING SHARES CAN BE TRANSFERRED<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#7_SHAREHOLDERS_CAN_AUTHORIZE_OTHER_PEOPLE_TO_ATTEND_THE_GENERAL_MEETING_OF_SHAREHOLDERS\" title=\"7. SHAREHOLDERS CAN AUTHORIZE OTHER PEOPLE TO ATTEND THE GENERAL MEETING OF SHAREHOLDERS\">7. SHAREHOLDERS CAN AUTHORIZE OTHER PEOPLE TO ATTEND THE GENERAL MEETING OF SHAREHOLDERS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#8_SOLE_PROPRIETORSHIP_HAS_THE_RIGHT_TO_BE_CONVERTED_INTO_A_JOINT_STOCK_COMPANY\" title=\"8. SOLE PROPRIETORSHIP HAS THE RIGHT TO BE CONVERTED INTO A JOINT STOCK COMPANY\">8. SOLE PROPRIETORSHIP HAS THE RIGHT TO BE CONVERTED INTO A JOINT STOCK COMPANY<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-3\/#PL_AND_PARTNERS_LAW_FIRM\" title=\"PL AND PARTNERS LAW FIRM\">PL AND PARTNERS LAW FIRM<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"PART_3_AMENDMENTS_REGARDING_LIMITED_LIABILITY_COMPANY_AND_JOINT_STOCK_COMPANY\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>PART 3: AMENDMENTS REGARDING LIMITED LIABILITY COMPANY AND JOINT STOCK COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The Law on Enterprise 2020 officially takes effect from January 1, 2021, along with changes and adjustments to provisions that still had many shortcomings in the previous law, thereby creating a flexible business environment, which is more suitable for the developing economy as today.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">In order to support enterprises to update information in a timely and accurate manner in accordance with new regulations, PL and Partners will provide information about changes in Law on Enterprise 2020.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Continuing the contents sent to our readers before in part 1 and part 2 related to changes in General Provisions and the establishment, suspension, and dissolution of enterprises, in this part, PL and Partners are going to continue figuring out changes related to limited liability companies and joint stock companies.<\/span><\/p>\n<p><span style=\"color: #ed1c24; font-size: 19px;\"><strong>First, for LIMITED LIABILITY COMPANY, there are two prominent amendments as follows:<\/strong><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_LIMITED_LIABILITY_COMPANIES_ARE_ALLOWED_TO_ISSUE_BONDS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>1. LIMITED LIABILITY COMPANIES ARE ALLOWED TO ISSUE BONDS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 04 Article 74 of the Law on Enterprise 2020 supplements provision that allows single-member limited liability companies to mobilize capital by issuing bonds.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Similarly, Clause 04 Article 46 also allows multi-member limited liability companies to issue bonds.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">This amendment makes it easier for enterprises to mobilize capital.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_INSPECTION_COMMITTEE_IS_NOT_REQUIRE\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>2. INSPECTION COMMITTEE IS NOT REQUIRE<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;\" width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Article 55 stipulated that a multi-member limited liability company having more than 11 members must establish an Inspection Committee.<\/span><\/p>\n<p>&nbsp;<\/td>\n<td width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Only two cases in which it is necessary to establish an Inspection Committee:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">&#8211; Multi-member limited liability company cum state-owned enterprise.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">&#8211; Subsidiaries of a state-owned enterprise.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Other cases are decided by the company itself.<\/span><\/p>\n<p><span style=\"font-size: 19px; color: #ed1c24;\"><strong>For joint stock companies, there are many new points related to shareholders, shares, general meeting of shareholders (GMS), etc, specifically:<\/strong><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_AMENDMENTS_ON_RIGHTS_AND_OBLIGATIONS_OF_ORDINARY_SHAREHOLDERS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>1. AMENDMENTS ON RIGHTS AND OBLIGATIONS OF ORDINARY SHAREHOLDERS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">In order for a shareholder or a group of shareholders to have certain rights such as Access to or extract the meeting minutes, resolutions and decisions of the Board of Directors, financial statements, reports of the Inspection Committee, contracts and transactions subject to approval by the Board of Directors, convene the GMS, etc.<\/span><\/p>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 2 Article 114 stipulated that: To have the above benefits, a shareholder or a group of shareholders must meet 02 conditions: (i) holding at least 10% of the total ordinary shares (ii) for at least 6 consecutive months.<\/span><\/p>\n<\/td>\n<td style=\"vertical-align: top;\" width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 2 Article 115 amends the (i) condition: holding <strong>at least 5% of the total ordinary shares.<\/strong><\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\"><strong>\u00a0<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"2_AMENDMENTS_ON_CONDITIONS_FOR_HOLDING_THE_GENERAL_MEETING_OF_SHAREHOLDERS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>2. AMENDMENTS ON CONDITIONS FOR HOLDING THE GENERAL MEETING OF SHAREHOLDERS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 141 of the Law on Enterprise 2014 stipulated that the GMS shall be held when it is attended by a group of shareholders that represent at least 51% of votes.<\/span><\/p>\n<\/td>\n<td style=\"vertical-align: top;\" width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 145, the GMS is held when it is attended by a group of shareholders that represent<strong> more than 50% of the total votes.<\/strong><\/span><\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"3_THE_MINUTES_OF_GMS_ARE_STILL_EFFECTIVE_WITHOUT_THE_SIGNATURES_OF_THE_CHAIR_AND_SECRETARY\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>3. THE MINUTES OF GMS ARE STILL EFFECTIVE WITHOUT THE SIGNATURES OF THE CHAIR AND SECRETARY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;\" width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Point i Clause 1 Article 154 of the Law on Enterprise 2014 stipulated: The minutes of the GMS must be signed by the chair and secretary.<\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Point i Clause 1 Article 150 stipulates: In case the chair and the secretary refuse to sign the minutes, they will be effective if they are <strong>signed by the other members of the Board of Directors and contain all necessary information<\/strong><strong>.<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"4_RIGHTS_TO_FILE_A_LAWSUIT_OF_A_SHAREHOLDER_AND_A_GROUP_OF_SHAREHOLDERS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>4. RIGHTS TO FILE A LAWSUIT OF A SHAREHOLDER AND A GROUP OF SHAREHOLDERS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 161 of the Law on Enterprise 2014 stipulates that a shareholder or a group of shareholders holding at least 1% of the total ordinary shares for 06 consecutive months has the right to file a lawsuit.<\/span><\/p>\n<\/td>\n<td style=\"vertical-align: top;\" width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 166 stipulates that a shareholder or a group of shareholders that holds <strong>at least 1% of the total ordinary shares<\/strong> has the right to file a lawsuit (abolish the conditions on 06 consecutive months).<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"5_THE_TERM_OF_OFFICE_OF_INDEPENDENT_DIRECTORS_SHALL_NOT_EXCEED_02_TERMS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>5. THE TERM OF OFFICE OF INDEPENDENT DIRECTORS SHALL NOT EXCEED 02 TERMS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Not setting the term limit for independent directors.<\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 2 Article 154 stipulates that Independent directors may only be elected for up to <strong>02 consecutive terms<\/strong>.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"6_SUPER-VOTING_SHARES_CAN_BE_TRANSFERRED\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>6. SUPER-VOTING SHARES CAN BE TRANSFERRED<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;\" width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Super-voting shares cannot be transferred.<\/span><\/p>\n<p>&nbsp;<\/td>\n<td width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 3 Article 116 stipulates that super-voting shares can be transferred if it is demanded by an <strong>enforceable\u00a0court judgment or decision<\/strong> or transferred in accordance with <strong>inheritance laws<\/strong>.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"7_SHAREHOLDERS_CAN_AUTHORIZE_OTHER_PEOPLE_TO_ATTEND_THE_GENERAL_MEETING_OF_SHAREHOLDERS\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>7. SHAREHOLDERS CAN AUTHORIZE OTHER PEOPLE TO ATTEND THE GENERAL MEETING OF SHAREHOLDERS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" width=\"288\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/td>\n<td style=\"text-align: center;\" width=\"336\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;\" width=\"288\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 140 stipulated that shareholders can directly attend the meeting or make a written authorization to another person to attend the meeting.<\/span><\/td>\n<td style=\"vertical-align: top;\" width=\"336\"><span style=\"font-size: 16px; color: #000000;\">Allows authorization to <strong>one or some other organizations<\/strong> <strong>and individuals<\/strong> to participate in the GMS.<\/span><\/p>\n<p><span style=\"font-size: 16px; color: #000000;\"><strong>\u00a0<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"8_SOLE_PROPRIETORSHIP_HAS_THE_RIGHT_TO_BE_CONVERTED_INTO_A_JOINT_STOCK_COMPANY\"><\/span><span style=\"font-size: 19px; color: #000080;\"><strong>8. SOLE PROPRIETORSHIP HAS THE RIGHT TO BE CONVERTED INTO A JOINT STOCK COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"2\">\n<tbody>\n<tr>\n<td width=\"288\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2014<\/strong><\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: center;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Law on Enterprise<\/strong> <strong>2020<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;\" width=\"288\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sole Proprietorship was only directly converted into Limited Liability Companies.<\/span><\/p>\n<\/td>\n<td width=\"336\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Clause 1 Article 205 of the Law on Enterprise 2020 allows Sole Proprietorship to be directly converted into a Limited Liability Company, Joint Stock Company, or Partnership.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">PL and Partners Law Firm has introduced you to some new points regarding LIMITED LIABILITY COMPANY AND JOINT STOCK COMPANY under the Law on Enterprise 2020.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">We do hope that the above information will help you have a better understanding of this law.<\/span><\/p>\n<p><strong>See more:<\/strong> <a href=\"https:\/\/pl-partners.vn\/en\/new-highlights-of-the-law-on-enterprise-2020-part-1\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\"><strong>New highlights of the law on enterprise 2020 &#8211; Part 1<\/strong><\/span><\/a><\/p>\n<hr \/>\n<h3><span class=\"ez-toc-section\" id=\"PL_AND_PARTNERS_LAW_FIRM\"><\/span><span style=\"color: #ed1c24;\"><strong>PL <\/strong><strong>AND<\/strong> <strong>PARTNERS<\/strong><strong> LAW FIRM<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #282828;\"><span style=\"color: #000000;\"><em><strong>Head<\/strong><strong>quarters<\/strong><strong>:<\/strong><\/em><\/span> <span style=\"color: #000000;\">46<sup>th<\/sup> Floor, Bitexco Financial Tower, No. 2 Hai Trieu, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>O<\/strong><strong>ffice:<\/strong><\/span><\/em> <span style=\"color: #000000;\">Lot 1.16 Viva Riverside, 1472 Vo Van Kiet, Ward 3, District 6, HCMC<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>Hotline:<\/strong><\/span><\/em> <span style=\"color: #000000;\">093.1111.060<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Email:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"http:\/\/info@pl-partners.vn\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">info@pl-partners.vn<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Facebook:<\/em><\/strong>\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.facebook.com\/PLLaw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">www.facebook.com\/PLLaw<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Website:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"https:\/\/pl-partners.vn\/\"><em>www.PL-PARTNERS.vn<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.hoidapluat.net\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.HOIDAPLUAT.net<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.thutucphaply.org\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.THUTUCPHAPLY.org<\/em><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Law on Enterprise 2020 officially takes effect from January 1, 2021, along with changes and adjustments to provisions that still had many shortcomings in the previous law, thereby creating a flexible business environment,<\/p>\n","protected":false},"author":18,"featured_media":2032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[168],"tags":[],"class_list":["post-2028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-focus-tdl"],"_links":{"self":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/2028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/comments?post=2028"}],"version-history":[{"count":0,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/2028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media\/2032"}],"wp:attachment":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media?parent=2028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/categories?post=2028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/tags?post=2028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}