Guidelines for Handing Over Assets on Land When Implementing Land Recovery and Handing Over Land

Guidance on Handing Over Assets on Land When Implementing Land Reclamation and Handover (Illustrative Image)

Circular 51/2015/TT-BTC stipulates that agricultural and forestry companies must hand over assets on land when implementing land reclamation and handover to localities as prescribed in Article 15, Decree 118/2014/ND-CP as follows:

1. Handover Assets: All assets on the reclaimed and handed-over land area to the locality.

2. Handover Principles: Handover the assets and capital in their original state according to the inventory data at the time of handover.

3. Handover Timing: Decided by the sector management Ministry and the provincial People’s Committee for each agricultural and forestry company.

4. Handover Presiding Persons:

- Representative of the sector management Ministry or the authorized person presides over the handover for agricultural and forestry companies under central management (including member companies of the group, corporation managed by the sector management Ministry), group, corporation representative.- Representative of the provincial People’s Committee or the authorized person presides over the handover for agricultural and forestry companies under the provincial People’s Committee management (including member companies of the corporation managed by the provincial People’s Committee), corporation representative.

5. Handover Entities:

Handover Party: Director of the agricultural and forestry company.

Receiving Party: Representative of the provincial People’s Committee

**6. Handover must be documented with a Record signed by the receiving party, the handing over party, and representatives of the sector management Ministry, provincial People’s Committee, and group, corporation leadership (if the agricultural and forestry company is a member unit of the group, corporation). The handover record must clearly state each asset and the capital handed over, existing issues, and the responsibility of each party.

**7. When handing over land to organizations, households, or individuals leasing the reclaimed land area, the provincial People’s Committee assigns the Department of Finance to preside, cooperate with the Department of Agriculture and Rural Development, and related agencies to recover the invested capital of the agricultural and forestry company concerning the assets on this land area for payment to the agricultural and forestry company according to the asset valuation principles specified in Article 13 of this Circular.

For details, refer to Circular 51/2015/TT-BTC, effective from June 2, 2015

Le Hai

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE