Law Amending Article 170 of Enterprise Law, Law No. 37/2013/QH13

THE PRESIDENT

Order No. 10/2013/L-CTN of June 28, 2013, on the promulgation of law

THE PRESIDENT OF THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to Articles 103 and 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of December 25, 2001, of the Xth National Assembly, the 10th session;

Pursuant to Article 91 of the Law on Organization of the National Assembly;

Pursuant to Article 57 of the Law on Promulgation of Legal Documents,

PROMULGATES:

the Law Amending and Supplementing Article 170 of the Enterprise Law,

which was passed on June 20, 2013, by the XIIIth National Assembly of the Socialist Republic of Vietnam, at its 5th session.

President of the Socialist Republic of Vietnam
TRUONG TAN SANG

Law Amending and Supplementing Article 170 of the Enterprise Law

(No. 37/2013/QH13)

Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of December 25, 2001, of the X^th National Assembly, the 10^th session;

The National Assembly promulgates the Law Amending and Supplementing Article 170 of Enterprise Law No. 60/2005/QH11, which was amended and supplemented under Article 3 of Law No. 38/2009/QH12.

Article 1. To amend and supplement Clause 2, Article 170 of the Enterprise Law as follows:

“2. A foreign-invested enterprise established before July 1, 2006, except the case specified in Clause 3 of this Article, may either:

a/ Make re-registration for organizing its management and operation under this Law and relevant laws.

A foreign-invested enterprise established before July 1, 2006, and having its operation duration expired under its investment license after July 1, 2006, but not yet carried out the procedures for its dissolution and wishes to continue its operation, shall make re-registration before February 1, 2014, under the conditions specified by the Government. In this case, the re-registration would take effect on the date of operation expiration stated in the investment license;

b/ Make no re-registration. In this case, the enterprise shall organize its management and operation according to its investment license and charter. For contents not stipulated in its investment license and charter, the enterprise shall comply with this Law and relevant laws.

The enterprise may modify and add business lines in case of not changing its operation duration stated in the investment license. The modification or addition of business lines must comply with law at the time of modification or addition.

In case of changing the operation duration or the modification or addition of business lines leads to a change in the operation duration stated in the investment license, the enterprise shall make re-registration under Point a of this Clause.

The Government shall detail this Clause.”

Article 2. This Law takes effect on August 1, 2013.

This Law was passed on June 20, 2013, by the XIIIth National Assembly of the Socialist Republic of Vietnam, at its 5th session.-

Chairman of the National Assembly
NGUYEN SINH HUNG