What are the procedures for refusal to register security interests in Vietnam? 10 cases of refusal to register security interests in Vietnam?
10 cases of refusal to register security interests in Vietnam?
Pursuant to Clause 1, Article 15 of Decree 99/2022/ND-CP, the registry may refuse to register a security interest in any of the following cases:
(1) The security interest falls beyond its registration competence;
(2) The registration application is invalid as prescribed in Clause 5, Article 3 of Decree 99/2022/ND-CP;
(3) The property is ineligible to be used to secure the performance of obligations as prescribed by the Land Law, Housing Law and other relevant laws. If the property is in dispute, the registry may only refuse the registration when a document accepting or justifying the acceptance of settlement of dispute issued by the court or other dispute settlement authority;
(4) Information in the registration application is inconsistent with information kept at the registry, except for the cases specified in Clause 8 Article 25, Clause 1 and Clause 3 Article 36 and Article 37 of Decree 99/2022/ND-CP;
(5) The information described on the application form for registration for the property specified in Clause 3, Article 5 of Decree 99/2022/ND-CP is inconsistent with the information on the Certificate, unless the information described on the application form for registration is consistent with the information being kept at the registration office due to the establishment of a new cadastral map to replace the documents and measurement data used to issue the Certificate but the land user, owner of property on land that has not yet been granted a replacement certificate according to the new cadastral map;
(6) Information of the grantor or the secured party in the case of registration through the online registration system or the information of the representative in the case of registration specified in Clause 2, Article 24 of Decree 99/2022/ND-CP does not match the information of the online registration account used;
(7) The request for registration of change or deregistration of information on security interests, or notice of collateral realization is not kept at the registry;
(8) The registry detects by itself that documents, signatures and seals in the registration application are forged as their ones or receives information with certification from a competent authority that documents, signatures and seals in registration application are forged;
(9) Before the time of recording or updating the registered information in the Register or in the Database, the registry:
- Receives a written notice from the civil judgment enforcement agency or the enforcer stating the distraint of the collateral or request the suspension or use of the registration of the property of which the grantor is the judgment debtor in accordance with the law on civil judgment enforcement;
- Receives a written request from a presiding authority or officer or from another competent agency or another competent person requesting not to register in accordance with regulations of law.
The provisions at this point do not apply in cases where the National Assembly's Resolution on handling bad debts of credit institutions or relevant laws stipulate otherwise;
(10) The registration applicant does not pay the registration fee, unless otherwise provided by the law on fees and charges or other relevant laws.
What are the procedures for refusal to register security interests in Vietnam? 10 cases of refusal to register security interests in Vietnam?
What are the procedures for refusal to register security interests in Vietnam?
- The registry may refuse to register only when there are grounds prescribed in Clause 1 of Decree 99/2022/ND-CP and shall take responsibility in accordance with relevant laws in case of groundless refusal to register.
In case there are grounds for refusal of registration, the registry shall make the refusal within working days of receiving the application or within the working day on which it receives documents from competent agencies or competent persons specified in cases (3), (8) or (9); if the time of receipt is after 15:00 of the same day, it can be done in the next working day.
The refusal must be made in writing, clearly stating the grounds for refusal to register. In case of refusal to register according to the grounds specified at cases (2), (4), or (5), the refusal document must contain instructions on the contents to be completed and supplemented.
- In case of registration but the new registry receives a document from a competent agency or a competent person specified at case (9), the registry shall notify in writing that the registration has been completed to the agency or person who has a written request.
- Where the registration applicant files a complaint against the document or decision of a competent agency that is not the registry or of a competent person who is not the competent person of the registry specified in cases (3), (8) or (9), the complaint shall conform to the provisions of the law on procedures, on civil judgment enforcement and other relevant laws.
In what cases is the registration cancellation of security interests in Vietnam done?
Pursuant to Clause 1, Article 21 of Decree 99/2022/ND-CP, the registration cancellation of security interests is done in the following cases:
- The security interest was registered but the registry receives a legally effective court judgment or decision that the registration must be deregistered in whole or in part;
- The registered security interest is found by the registry to be in the case of registration refusal specified at Point a or h, Clause 1, Article 15 of Decree 99/2022/ND-CP. In the case specified at Point h, Clause 1, Article 15 of Decree 99/2022/ND-CP, the registry shall cancel all registered information;
- Handling of duplicate registration specified in Article 49 of Decree 99/2022/ND-CP.
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