DECREE No. 26/1998/ND-CP OF MAY 7, 1998 ADJUSTING THE LEGAL CAPITAL LEVELS OF PRIVATE COMPANIES, LIMITED LIABILITY COMPANIES AND JOINT-STOCK COMPANIES

THE GOVERNMENT

Pursuant to the Law on Organization of the Government of September 30, 1992;

Pursuant to the Law on Companies and the Law on Private Enterprises of December 21, 1990;

At the proposal of the Minister of Finance,

DECREES:

Article 1.- To prescribe the legal capital levels applicable to the establishment of private enterprises, limited liability companies and joint stock companies as follows:

For enterprises which undertake more than one business line, the legal capital level of the business line with the highest legal capital level shall apply.

Article 2.- This Decree takes effect 15 days after its signing and replaces the list of legal capital levels of business lines issued together with Decree No. 221/HDBT and Decree No. 222/HDBT of July 23, 1991 of the Council of Ministers (now the Government) detailing a number of articles of the Law on Private Enterprises and the Law on Companies applicable to the establishment of new private enterprises, limited liability companies and joint stock companies. All previous provisions which are contrary to this Decree are hereby annulled.

Article 3.- The ministers, the heads of the ministerial-level agencies and agencies attached to the Government and the presidents of the People's Committees of the provinces and cities directly under the Central Government shall have to implement this Decree.

On behalf of the Government

Prime Minister