The National Assembly approved the Law on Enterprises (revised) with 90.68 percent of votes in the morning of June 17.

At the meeting (Photo: VNA)

The new law with 10 chapters and 219 articles does not cover business households, which will be regulated in a separate law.

It will take effect on January 1, 2021, regulating the establishment, organisation, restructuring, dissolution and relevant activities of enterprises, including limited liability companies, joint stock companies, partnerships, private companies and groups of enterprises.

The law stipulates that State-owned enterprises are those in which the State holds 100 percent of charter capital, and those in which the State holds more than 50 percent of charter capital or voting shares.

Before voting on the entire revised bill, NA deputies adopted Article 88 on State-owned enterprises, Article 115 on rights of common shareholders and Article 128 on offer for sale of shares in the bill./.

Source: VNA