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Right to search books and records of public companies allows shareholders to closely monitor business activities, through which shareholders monitor the financial situation and optimize profits, making an important contribution to the company’s development direction. Therefore, the following article by Long Phan will provide the necessary information to help you understand the regulations on the right to search books and records effectively in public companies.
A public company is a special form of business organization in the Vietnamese legal system. According to Clause 1, Article 32 of the Law on Securities 2019, a public company is a joint stock company when it falls into one of the following two cases. Specifically:
The right to search books and records in public companies is one of the basic rights of shareholders of public companies. Article 49, Section XI, Appendix I, Circular 116/2020/TT-BTC provides detailed regulations on this issue. The actual right to search books and records in public companies is as follows:
For Common Shareholders:
For shareholders or groups of shareholders owning 5% or more of the total common shares:
Profit distribution in public companies is carried out according to the principles of transparency and fairness. Article 51 Section XIII Appendix I Circular 116/2020/TT-BTC clearly stipulates the process and method of profit distribution. Specifically, the basic principles for profit distribution are as follows:
With professionalism and experience in the corporate sector. Long Phan specializes in consulting on shareholder rights in public companies, meeting the diverse needs of customers in protecting the rights and optimizing the role of shareholders. And the consulting and support services that Long Phan provides include:
The right to search books and records in public companies is an important tool to help shareholders effectively monitor corporate operations and accurately grasp the financial situation and make wise investment decisions, and protect your rights. If you need in-depth advice about this right, please contact Long Phan immediately via the hotline 0906735386 for effective advice and support, protecting maximum benefits in your investment activities.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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