Sanctioning of administrative violation on business registration
Decree No 37/2003/ND-CP dated on 10 April, 2003 stipulated for sanctioning of administrative violation on business registration was abrogated by Decree No 53/2007/ND-CP dated on 4 April, 2007 regulates sanctioning of administrative violation in the field of planning and investment.According to Item 3, Chapter II, action to violate regulations on establishment and management, registration capital of enterprises, co-operative, union co-operative, households; registration to change business registered dossier of enterprises, households; hanging signboard; public information; practice certificate, re-organize enterprise, co-operative, union co-operative; registration for branch, representative office; using Investment Certificate, Business Certificate, etc are administrative violations in the field of investment and business registration. Organizations, individuals doing those actions will be subjected to an administrative punishment in accordance with Chapter II of this Decree. For each administrative violation on business registration, organizations, individuals shall be imposed fining together with one or more than one attached measures such as be forced re-apply to get Business Certificate in case of not apply for business registration to change business address, name of household, business line, registry capital, representative person when it was changed, etc. The highest fine level is applied for the administrative violation on business registration is 10 million VND (not maintaining legal capital, appoint person who do not have practice certificate to do business need practice certificate by law, registration individuals who do not have right to establish and manage an enterprise, etc).
The Decree is published on Official Gazette on 7 May, 2007 and comes into effect 15 days afterward.
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