Commercial Law 2005

This Law governs the commercial activities conducted in the territory of the Socialist Republic of Vietnam.

LAW

COMMERCIAL

(No. 36/2005/QH11)

Pursuant to Article 103 and Article 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of 25 December, 2001, of the X th National Assembly, the 10 th session;

This Law provides for commercial activities.

Chapter I

GENERAL PROVISIONS

SECTION 1. GOVERNING SCOPE AND SUBJECTS OF APPLICATION

Article 1.- Governing scope

1. Commercial activities conducted in the territory of the Socialist Republic of Vietnam.

2. Commercial activities conducted outside the territory of the Socialist Republic of Vietnam in cases where the involved parties agree to this Law for application, or where a foreign law or a treaty to which the Socialist Republic of Vietnam is a contracting party stipulates the application of this Law.

3. Activities not for profit purposes conducted by a party in its transactions with traders in the territory of the Socialist Republic of Vietnam in cases where the party conducting such not-for-profit activities chooses to apply this Law.

Article 2.- Subjects of application

1. Traders conducting commercial activities as provided for in Article 1 of this Law.

2. Other organizations and individuals conducting commerce-related activities.

3. Basing itself on the principles provided for by this Law, the Government shall specify the application of this Law to individuals who independently and regularly conduct commercial activities without having to make business registration.

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Article 323.- Implementation effect

This Law takes effect on January 1, 2006.

This Law replaces the Commercial Law of May 10, 1997.

Article 324.- Detailed provisions and implementation guidance

The Government shall detail and guide the implementation of this Law.

This Law was passed on June 14, 2005, by the XIth National Assembly of the Socialist Republic of Vietnam at its 7th session.