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Tuesday, December 12, 2017

The new regime of companies’ legal representatives: an overview

Updated: 10:54’ - 21/04/2015

Bui Duc Giang
PhD in Law[1]

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Cell phone manufacturing line of Samsung Vietnam in Bac Ninh province __Photo: Duc Tam/VNA

KEY POINTS:

* The 2014 Law on Enterprises provides for a more complete regime of legal representative although certain issues remain to be clarified;

* In particular, a company may have more than one legal representative;

* The civil liability of legal representatives is also addressed in a more intelligible manner.

On November 26, 2014, Law on Enterprises No. 68/2014/QH13 was passed by the National Assembly (the “2014 Law on Enterprises”). It will take effect on July 1, 2015. This law is widely seen as a significant step forward in the company legislation[2]. The regime of legal representative has been considerably improved. Nevertheless, certain issues remain to be clarified or may create difficulties in practice. This article will try to provide an overview of the new provisions and those issues...



[1] The author would like to thank Mr. Le Trong Dung from the Legal Department of Vietcombank for his insightful comments on an earlier draft of this article.

[2] For a full discussion of the new changes, see Tran Thanh Tung (in Vietnamese), “The 2014 Law on Enterprises extends the right of business freedom” (Luật doanh nghiệp 2014 mở rộng quyền  tự do kinh doanh), the Saigon Times Online, December 7, 2014; Phan Duc Hieu, “Top three changes of the new Enterprise Law”, Vietnam Law and Legal Forum, Vol. 21 - issue 244 December 2014; Bui Duc Giang and Le Trong Dung, “Tendering aspects of the new concept of State-owned enterprise”, Vietnam Law and Legal Forum, Vol. 21 - issue 247 March 2015.


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