Key issues under the model power purchase agreement (PPA) for Rooftop Solar System

In this post, we discuss some key issues under the model PPA used for roof top solar system (RTS) under Circular 18/2020. This post is written by Le Thanh Nhat and edited by Nguyen Quang Vu.

Limited ability to amend the RTS PPA

1.1. Under the laws of Vietnam, the use of the RTS PPA for sale and purchase of power with EVN is mandatory, and the parties are only allowed to supplement the RTS PPA to clarify the parties’ rights and obligations and may not change the main contents of the RTS PPA. The supplementary content injected by the parties must also be consistent with, and must therefore not contradict, the RTS PPA. Under the RTS PPA, the parties can agree on the following additional information:

Read MoreInfo
Comment
Written by Nguyen Quang Vu On In

Sample charter of a private joint stock company (Enterprise Law 2020 version)

The team at Venture North Law has prepared a sample draft charter of a private joint stock company in Vietnam under the new Enterprise Law 2020. There are a few points to note:

  • The draft is prepared with the interest of the controlling shareholder and company’s managers in mind;

  • The draft is prepared for a private joint stock company which has been set up and which has paid up its initial charter capital;

  • The draft needs to be read in parallel with the Enterprise Law 2020 since we do not simply cut and paste various articles of the Enterprise Law 2020 in the sample charter;

Read MoreInfo
Comment
Written by Nguyen Quang Vu On In ,

Legal issues and lack of anti-deadlock mechanisms in a recent shareholder dispute

In the recent controversial case of shareholder dispute in Vietnam, the appellate court of Ho Chi Minh City (Appellate Court) held that two following articles of a company charter conflict with each other and therefore the provisions of the Enterprise Law 2014 are applied to resolve the dispute:

· Article 10.1 of the company charter which provides a member’s right to request the redemption of its capital contribution portion if such member objects a resolution of the Members’ Council on some important matters of the company; and

· Article 23.1 of the company charter which requires a consensus of all members on some important matters of the company.

Read MoreInfo
Comment
Written by Lawyers VNLaw On In