Vietnam Business Law is a website managed by lawyers of Venture North Law Limited (VNLaw). Venture North Law Limited (VNLaw) is a Vietnamese commercial law firm. We won the Rising Law Firm of the Year Award at the Southeast Asia Law Awards for the years 2020 and 2021 held by The Legal 500. Very few Vietnamese law firms have achieved a similar regional recognition.
Decree 42/2015 is an entirely new decree governing “derivative securities” (chứng khoán phái sinh) and will take effect from July 2015. A quick read of Decree 42/2015 seems to indicate that Decree 42/2015 is intended to provide a legal framework for a regulated market for derivatives in Vietnam. In particular, Decree 42/2015 provides detailed requirements for:
Article 279 of the Criminal Code imposes criminal liability on the act of receiving bribes (tội nhận hối lộ), which is defined as an act, among others, of a person who holds an official position or power and directly or indirectly has received or will receive money, properties or other “material benefit” in any form, which has a value of VND 2,000,000 (approx. USD100) or more “with the intent of taking advantage of his/her official position or power in order to perform or refrain from performing certain acts for the benefit of, or as requested by, the person who offers the bribe”.
A manager of a State-owned enterprise (SOE Manager) is not a public official who may be “cadre” (cán bộ), “civil servant” (công chức) or “public employees” (viên chức) under Vietnamese law. This is because SOE Manager is not covered by the legal definitions of public officials under Vietnamese law. There are certain specific regulations relating to public officials which are applicable to the appointment, demotion or performance review of certain SOE Managers at a wholly State-owned enterprise. These managers include:
In Vietnam, comparative advertising is subject to the following regulations, among other things: