Vietnam: To promulgate new internal regulation on public company administration applied from February 15

Nguyen Trinh

16:35, 30/01/2021

Recently, the Ministry of Finance of Vietnam issued Circular 116/2020/TT-BTC on guidelines for administration of public companies in Decree No. 155/2020/ND-CP and the Law on Securities.

Promulgated together with Vietnam's Circular 116/2020/TT-BTC is the model charter, model internal regulations on company administration, model regulations on operation of the Board of Directors, model regulations on operation of the Board of Controllers, and model regulations on operation of the Audit Committee of public companies in Vietnam which will apply from February 15, 2021, specifically attached in the following Appendices:

Appendix I: Model Charter;
Appendix II: Model internal regulations on company administration;
Appendix III: Model regulations on operation of the Board of Directors;
Appendix IV: Model regulations on operation of the Board of Controllers;
Appendix V: Model regulations on operation of the Audit Committee.

Details of the above samples can be found in Vietnam's Circular 116/2020/TT-BTC, effective from February 15, 2021, replacing Vietnam's Circular 95/2017/TT-BTC.

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