Dismissal, removal and addition of members of the Board of Management
Dismissal, removal and addition of members of the Board of Management
1. A member of the Board of Management shall be removed and dismissed in the following cases:
(a) Loss of criteria and conditions stipulated in article 110 of this Law;
(b) Not participating activities of the Board of Management within (6) consecutive months, except for force majeure cases;
(c) Resignation;
(d) Other cases stipulated in the charter of the company
2. In addition to cases stipulated in clause 1 of this article, members of the Board of Management may be dismissed at any time pursuant to a resolution of the General Meeting of Shareholders.
3. Where the number of members of the Board of Management is reduced to less than one third (1/3) of the number stipulated in the charter of the company, the Board of Management shall convene a General Meeting of Shareholders within sixty (60) days from the date the number of members [of the Board of Management] is reduce to less than one third (1/3), to elect additional members of the Board of Management.
In other cases, the next General Meeting of Shareholders shall elect new members of the Board of Management to replace members of the Board of Management who have been removed or dismissed.
- Contact directly at the following address:
Daiviet Law Firm
Daiviet Notary Office
No. 335 Kim Ma Street - Ba Dinh District - Hanoi- Vietnam
Tel: (84-4) 37478888/ Hot-line: 0933 668 166
Fax: (84-4) 37473966
