Guidance on financial handling when arranging and renovating agricultural and forestry companies
The Ministry of Finance has just issued Circular 51/2015/TT-BTC providing guidance on financial handling when arranging, innovating, developing, and improving the operational efficiency of agricultural and forestry companies.
Regarding the principles of financial handling when implementing arrangement and conversion, the Circular clearly states that agricultural and forestry companies are allowed to continue to be maintained and consolidated in the form of the State holding 100% of charter capital in accordance with the provisions of Decree 71/2013/ND-CP, Circular 220/2013/TT-BTC...
Agricultural and forestry companies are arranged and converted into joint stock companies in accordance with the provisions of Decree 59/2011/ND-CP, Decree 189/2013/ND-CP, and documents guiding the decrees.
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Agricultural and forestry companies that are reorganized and converted into limited liability companies with two or more members shall carry out the conversion in accordance with the provisions of the law on enterprises, management and use of state capital invested in production and business at enterprises. Agricultural and forestry companies subject to dissolution shall comply with the provisions of Decree 172/2013/ND-CP and related guiding documents.
The handover of infrastructure (roads, electricity systems, irrigation works and other welfare works) from agricultural and forestry companies to localities is carried out in accordance with Decision 255/2003/QD-TTg and Decision 1362/QD-TTg of the Prime Minister...
In case an agricultural or forestry company has a nursery, kindergarten, or medical center that needs to be retained to serve the company's production and business activities, it shall comply with the provisions of the law guiding the specific financial mechanism after the arrangement, innovation, development, and improvement of the operational efficiency of the agricultural or forestry company.
Selling preferential shares to employees with contracted jobs
Regarding the sale of preferential shares to employees with contracted contracts who are not cadres, workers, or civil servants on the company's list of regular employees, the Circular stipulates that agricultural and forestry companies that are equitized are allowed to sell shares at preferential prices to employees who have long-term, stable contracted contracts with the company (called contractors).
The contractor is allowed to buy shares at a price equal to 60% of the lowest successful auction price (in case of prior public auction) or equal to 60% of the lowest successful sale price to strategic investors (in case of prior sale to strategic investors).
The maximum number of shares sold at a preferential price to each contractor shall not exceed 3,000 shares/contractor (equivalent to the maximum number of shares purchased by regular employees of the enterprise working in the state sector for 30 years).
Circular 51 takes effect from June 2, 2015.
According to Chinhphu.vn
