The Civil Code 2015 was approved by the National Assembly Legislature XIII in the morning of 24 November 2015 and it will officially come into effect from 01 January 2017. It is the first time that hardship clause is found in this code at Article 420. The clause is introduced aiming to form a legal framework which permits modification or termination of a contract upon fundamental changes of the circumstance based on which the parties agree to conclude the contract. It is forecasted that the hardship clause shall cause several positive impacts to corporate business. Thus, in this volume, NHQuang&Associates hereby present some analyses on the provisions on hardship clause of Civil Code 2015.
Continuing with the topic of "Minor gap between progress and barrier", Policy Brief this volume writes "The regulation of Article 56 Decree 78/2015/ND-CP does not base on any provision of the Law on Enterprises 2014 or specialised laws when it does not permit enterprises to register for changes to their enterprise registration contents."
"It seems that the Law on Enterprises 2014 no longer requires enterprises to register their business lines under specific code; however, Decree No. 78/2015/ND-CP continues to require enterprises to write their business lines and areas by selecting economic sector level four in Vietnamese economic sector system under the Decision of the Minister of Planning and Investment"
The newsletter this week updates some important contents of the Trans-Pacific Partnership Agreement, of which the negotiation was just declared close on 5 October 2015. Some other newly issued legal documents are also summarised, namely Decree No. 99/2015/ND-CP dated 20 October 2015 of the Government providing details and guidelines for implementation of some articles of the Law on Housing, Circular No. 20/2015/TT-NHNN of the State Bank of Vietnam dated 28 October 2015 providing the opening and use of foreign currency accounts abroad, Decree No. 108/2015/ND-CP providing details and guidelines for implementation of some articles of the Law on Special Consumption Tax and the Law amending and supplementing the Law on Special Consumption Tax, Decision No. 1819/QD-TTg on approval of the National program for application of information technology in operations of state agencies in period of 2016 - 2020, Decision No. 1833/QD-TTg on approval of the Planning of job service center network in period of 2016 - 2025. In this volume, NHQuang&Associates continues with the last section of the Study for commenting the Draft Civil Procedure Code for improving business environment under Resolution 19 of the Government. The writing involves sparticular recommendations to the bill.
In furtherance to Section I and II of the Study for Commenting the Draft Civil Procedure Code for improving business environment under Resolution 19 of the Government, which were provided in previous newsletter, the Legal & Policy Brief this week comments the particular recommendations to the bill.