Vietnam’s Legal Policy on Obligations of Company Managers

Vo Trung Hau; Le Thi Minh

doi:doi:10.11648/j.ijls.20230601.23

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Vietnam’s Legal Policy on Obligations of Company Managers

Vo Trung Hau, Le Thi Minh

Published in International Journal of Law and Society (Volume 6, Issue 1)

Received: 20 February 2023 Accepted: 10 March 2023 Published: 20 March 2023

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Abstract

The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.

Published in	International Journal of Law and Society (Volume 6, Issue 1)
DOI	10.11648/j.ijls.20230601.23
Page(s)	97-101
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Corporate Legal Policy, Company Managers, Obligations of Company Managers

References

[1]	Bui Xuan Hai (2005), “Company manager under the Enterprise Law 1999 - From the comparative law perspective”, Journal of Legal Science, No. 04/2005.
[2]	Do Minh Tuan (2018), Some legal issues about the obligations of company managers, Publishing House of Justice, pp. 50-51.
[3]	Harry G. Henn & John R. Alexander (1991), Laws of Corporations and Other Business Enterprises, West Academic Publishing; 3rd edition.
[4]	Harry G. Henn & John R. Alexander (1983), Laws of Corporations and Other Business Enterprises, West Publishing Company.
[5]	Jethro K. Lieberman & George J. Sided (1989), The Legal Environment of Business, NewYork Law School, https://digitalcommons.nyls.edu/cgi/viewcontent.cgi?article=1106&context=fac_books, accessed on December 17, 2022.
[6]	International Finance Corporation (IFC) Project on Corporate Governance in Vietnam, G20/OECD Translation G20/OECD Principles of Corporate Governance, p. 49, https://www.ifc.org/wps/wcm/connect/f05f4bff-81c1-4f41-a689-0bf68ec03b49/G20-ECD+CG+Principles_English-Vietnamese+by+IFC.pdf?MOD=AJPERES&CVID=lAAQVAw&fbclid=IwAR0Jyk97XxVbcP8nJRdzMKT-UNSfT5JEPOQm-gadgeOSm9fYG4ZARuI99Rs, accessed on December 17, 2022.
[7]	Le Duc Nghia (2014), “Responsibilities of a company manager under Vietnamese law”, Legislative Research Journal, http://www.lapphap.vn/Pages/tintuc/tinchitiet.aspx?tintucid=207848, accessed on December 17, 2022.
[8]	Model Business Corporation Act (2016 Revision) (December 9, 2016), Subchapter C Directors, Article 8.30 Standards of Conduct for Directors.
[9]	Ngo Huy Cuong (2013), Textbook of Commercial Law, General and Traders, Ha Noi National University Publishing.
[10]	National Assembly of the Socialist Republic of Vietnam (1999), Enterprise Law No. 19/1999/QH.
[11]	National Assembly of the Socialist Republic of Vietnam (2005), Enterprise Law No. 60/2005/QH11.
[12]	National Assembly of the Socialist Republic of Vietnam (2014), Enterprise Law No. 68/2014/QH13.
[13]	National Assembly of the Socialist Republic of Vietnam (2020), Enterprise Law No. 59/2020/QH14.
[14]	The Australian orporations Act 2001, Chapter 2D – Officers and employees, Part 2D.1 – Duties and powers, Division 1 – General duties, Article 180.2 Business judgment rule.
[15]	The French Commercial Code applicable to SARL (Limited Liability Company);
[16]	The French Commercial Code is applicable to SA (Company).
[17]	Keith Abbott, Norman Pendlebury, and Kevin Wardman (2007), Busniness Law, Cengage Learning EMEA; 8th edition.

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APA Style

Vo Trung Hau, Le Thi Minh. (2023). Vietnam’s Legal Policy on Obligations of Company Managers. International Journal of Law and Society, 6(1), 97-101. https://doi.org/10.11648/j.ijls.20230601.23

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Vo Trung Hau; Le Thi Minh. Vietnam’s Legal Policy on Obligations of Company Managers. Int. J. Law Soc. 2023, 6(1), 97-101. doi: 10.11648/j.ijls.20230601.23

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AMA Style

Vo Trung Hau, Le Thi Minh. Vietnam’s Legal Policy on Obligations of Company Managers. Int J Law Soc. 2023;6(1):97-101. doi: 10.11648/j.ijls.20230601.23

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@article{10.11648/j.ijls.20230601.23,
  author = {Vo Trung Hau and Le Thi Minh},
  title = {Vietnam’s Legal Policy on Obligations of Company Managers},
  journal = {International Journal of Law and Society},
  volume = {6},
  number = {1},
  pages = {97-101},
  doi = {10.11648/j.ijls.20230601.23},
  url = {https://doi.org/10.11648/j.ijls.20230601.23},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijls.20230601.23},
  abstract = {The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.},
 year = {2023}
}

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TY  - JOUR
T1  - Vietnam’s Legal Policy on Obligations of Company Managers
AU  - Vo Trung Hau
AU  - Le Thi Minh
Y1  - 2023/03/20
PY  - 2023
N1  - https://doi.org/10.11648/j.ijls.20230601.23
DO  - 10.11648/j.ijls.20230601.23
T2  - International Journal of Law and Society
JF  - International Journal of Law and Society
JO  - International Journal of Law and Society
SP  - 97
EP  - 101
PB  - Science Publishing Group
SN  - 2640-1908
UR  - https://doi.org/10.11648/j.ijls.20230601.23
AB  - The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.
VL  - 6
IS  - 1
ER  -

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Author Information

Vo Trung Hau

Faculty of Politics - Law, Ho Chi Minh City University of Food Industry, Ho Chi Minh City, Vietnam
Le Thi Minh

Faculty of Management Science, Thu Dau Mot University, Binh Duong Province, Vietnam

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APA Style

Vo Trung Hau, Le Thi Minh. (2023). Vietnam’s Legal Policy on Obligations of Company Managers. International Journal of Law and Society, 6(1), 97-101. https://doi.org/10.11648/j.ijls.20230601.23

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ACS Style

Vo Trung Hau; Le Thi Minh. Vietnam’s Legal Policy on Obligations of Company Managers. Int. J. Law Soc. 2023, 6(1), 97-101. doi: 10.11648/j.ijls.20230601.23

Copy | Download

AMA Style

Vo Trung Hau, Le Thi Minh. Vietnam’s Legal Policy on Obligations of Company Managers. Int J Law Soc. 2023;6(1):97-101. doi: 10.11648/j.ijls.20230601.23

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@article{10.11648/j.ijls.20230601.23,
  author = {Vo Trung Hau and Le Thi Minh},
  title = {Vietnam’s Legal Policy on Obligations of Company Managers},
  journal = {International Journal of Law and Society},
  volume = {6},
  number = {1},
  pages = {97-101},
  doi = {10.11648/j.ijls.20230601.23},
  url = {https://doi.org/10.11648/j.ijls.20230601.23},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijls.20230601.23},
  abstract = {The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Vietnam’s Legal Policy on Obligations of Company Managers
AU  - Vo Trung Hau
AU  - Le Thi Minh
Y1  - 2023/03/20
PY  - 2023
N1  - https://doi.org/10.11648/j.ijls.20230601.23
DO  - 10.11648/j.ijls.20230601.23
T2  - International Journal of Law and Society
JF  - International Journal of Law and Society
JO  - International Journal of Law and Society
SP  - 97
EP  - 101
PB  - Science Publishing Group
SN  - 2640-1908
UR  - https://doi.org/10.11648/j.ijls.20230601.23
AB  - The Company is a legal entity that cannot carry out its activities but must go through the actions of specific objects called the company's manageCompanyerprise law always has provisions that compel the company manager to perform their obligations to protect the interests of investors adequately. The article uses historical and statistical methods to assess the development and limitations of Vietnam's current legal policies for company managers. Accordingly, the performance of obligations of a company manager in Vietnam, mainly corporate governance, should generally be taken more seriously. The article also uses analytical and comparative jurisprudence methods to evaluate and comment on regulations on the obligations of company managers in the United States, Australia, and France. On that basis, the article proposes to improve the Vietnamese law related to the duties of the company manager, specifically: (i) To improve the Vietnamese enterprise law in both form and content to create a legal corridor as the foundation for business and commercial relations to develop. This is done through the development of a system of case law on corporate law in general and obligations of company managers in particular; (ii) attach great importance to the duties of honesty, diligence, loyalty, and prudence of the Company's managers because these are influential subjects who can interfere in management and operating decisions; (iii) Develop criteria to identify those considered company managers.
VL  - 6
IS  - 1
ER  -

Copy | Download