On August 8, 2019, the Ministry of Finance issued Circular No. 50/2019 / TT-BTC prescribing the Auction Guide for the auction of shares and receivable debts of state enterprises with the function of buying, selling and handling. The loan takes effect on October 1, 2019.
Accordingly, Circular No. 50/2019 / TT-BTC has the following outstanding contents:
– Subjects of application of this provision include: State enterprises with the function of buying, selling and handling debts (hereinafter referred to as debt trading enterprises); Joint-stock companies (unlisted or registered for trading on stock exchanges; already listed or registered for trading but not performing transactions on stock exchanges), at the same time having contributed capital and receivable debts of debt trading enterprises; Organizing auctions; Investors participating in the purchase of shares with debt receivables; Other organizations and individuals related to the transfer of capital together with receivable debts.
– Debt purchase and sale enterprises shall transfer the shares lots together with their receivable debts according to the business plans and plans approved by the Members’ Council or the company presidents according to their prescribed competence.
– Auction order: The Board of members or the company’s President of the debt trading company shall decide the auction price of the share lot with receivable debts but not lower than the starting price of the share lot plus. with the reserve price of receivable debts; Organize the auction of shares with debt receivables; Compilation of auction documents of shares with receivable debts; Information disclosure; Conducting auction; Determining auction results; Handling auction results.
Therefore, Circular No. 50/2019 / TT-BTC provides detailed guidance on the order and procedures for conducting auction of shares with receivable debts of state enterprises with the function of buying, selling and handling in debt collection.