Under Article 17.2 of the 2020 Law on Enterprises and Article 40.6 of the 2012 Law on Cooperatives on subjects who are not allowed to establish and manage enterprises, cooperatives or cooperative unions, in which mentioning those whose positions and authorities as prescribed in the Anti-Corruption Law and other cases as per the law.
Simultaneously, pursuant to Article 20.2(d) of the 2018 Law on Anti-Corruption: “Office holders in state organizations are prohibited from establishing, holding managerial or executive positions in sole proprietorships, limited liability companies, joint-stock companies, partnerships and cooperatives in the field that was under their management according to regulations of the Government” (Hereinafter generally referred to as enterprises and cooperatives).
In order to implement the above regulations, on 03/10/2022, the Ministry of Finance issued Circular No. 60/2022/TT-BTC ("Circular 60") stipulating the list of prohibited financial sectors and their time limit for the office holders to take after their resignation.
Specific contents in Circular 60 are as follows:
|
No. |
List of sectors |
Term |
|
1 |
State management on accounting and audit |
Within adequately 24 months from the date of resignation upon the decision of the competent authority |
|
2 |
State management on securities and stock market |
|
|
3 |
State management on insurance |
|
|
4 |
State management on customs |
|
|
5 |
State management on prices |
|
|
6 |
State management on taxation, fees, charges and other receipts of the state budget |
|
|
7 |
State management on corporate finance and state capital management at enterprises |
|
|
8 |
State management on national reserves |
|
|
9 |
Management on loans, repayment of domestic and foreign debts of the Government, public debt, national foreign debt, inbound and outbound loans and aid |
|
|
10 |
State management on the state budget |
Within adequately 12 months from the date of resignation upon the decision of the competent authority |
|
11 |
State management on public properties |
Circular 60 shall take effect from 17/11/2022.
Comment: