On 6 June 2017, the Government issued Decree 71/2017/ND-CP guiding corporate governance of public companies. Decree 71 will replace Circular 121/2012/TT-BTC from 1 August
2017. New provisions include:
• All public companies must have internal corporate governance rules, which previously applies to large scale public companies only. The rules are developed by the board and approved by the general meeting of shareholders (GMS).
• A public company must notify shareholders of a GMS at least 20 days in advance of the meeting, compared to 5 days under Circular 121.
• With effect from 1 August 2020, the chairman of the board of management may not be an executive director of the same public company.
For more information click ATT00041.
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