What are cases ineligible for grant of auction practice certificates in Vietnam under the Law amending Law on property auction 2024?
What are cases ineligible for grant of auction practice certificates in Vietnam under the Law amending Law on property auction 2024?
According to Article 15 of the Law on property auction 2016, amended by Clause 10 Article 1 of the Law amending Law on property auction 2024, the cases ineligible for grant of auction practice certificates in Vietnam include:
- Not meeting the standards specified in Article 10 of the Law on property auction 2016, amended by Clause 6 Article 1 of the Law amending Law on property auction 2024.
- Being officers, professional soldiers, workers, and public employees in defense agencies, units under the People's Army;
Officers, non-commissioned officers, professional technicians in agencies, units under the People's Police;
Officials and public employees, except for those officials and public employees recommended to be granted an auction practice certificates to work for the property auction Service Center.
- Losing or being restricted in civil acts capacity; having difficulties in cognition, behavior control.
- Being prosecuted for criminal liability;
Being convicted with a legally effective judgment;
Having been convicted without expunging the criminal record;
Having been convicted of crimes related to auction activities, fraud, asset appropriation, and corruption crimes, even if the criminal record has been expunged.
- Being subject to administrative measures for compulsory detoxification, mandatory education in accordance with the law on handling administrative violations.
What are cases ineligible for grant of auction practice certificates in Vietnam under the Law amending Law on property auction 2024? (Image from the Internet)
What are the principles of property auction in Vietnam?
According to Article 6 of the Law on property auction 2016, which contains this phrase replaced by points b and o, Clause 45 Article 1 of the Law amending Law on property auction 2024, the principles of property auction in Vietnam are stipulated as follows:
Principles of property auction
1. Comply with the provisions of the law.
2. Ensure independence, honesty, publicity, transparency, fairness, objectivity.
3. Protect the legitimate rights and interests of the auctioned asset owners, auction participants, winning bidders, auctioned asset buyers, auction practice organizations, auctioneers.
4. The auction session must be conducted by an auctioneer, except for cases where the auction is carried out by the property auction Council.
The principles of property auction in Vietnam are as follows:
- Comply with the provisions of the law.
- Ensure independence, honesty, publicity, transparency, fairness, objectivity.
- Protect the legitimate rights and interests of the auctioned asset owners, auction participants, winning bidders, auctioned asset buyers, auction practice organizations, auctioneers.
- The auction session must be conducted by an auctioneer, except for cases where the auction is carried out by the property auction Council.
What are cases of revocation of auction practice certificates in Vietnam?
According to Clause 1 Article 16 of the Law on property auction 2016, amended by Clause 11 Article 1 of the Law amending Law on property auction 2024:
Revocation of auction practice certificates
1. The auction practice certificates shall be revoked in the following cases:
a) Falling into one of the cases specified in Article 15 of this Law;
b) Not practicing property auction according to the provisions of Clause 1 Article 18 of this Law for 2 consecutive years, except for force majeure cases;
c) Being administratively sanctioned according to the provisions of the law on handling administrative violations due to violations specified in points b, c, or d Clause 1 Article 9 of this Law;
d) Voluntarily ceasing to practice;
dd) Being declared missing or dead.
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The auction practice certificates shall be revoked in the following cases:
(1) Falling into one of the cases specified in Article 15 of the Law on property auction 2016, amended by Clause 10 Article 1 of the Law amending Law on property auction 2024;
(2) Not practicing property auction according to the provisions of Clause 1 Article 18 of the Law on property auction 2016, which contains this phrase replaced by point c Clause 45 Article 1 of the Law amending Law on property auction 2024 for 2 consecutive years, except for force majeure cases;
(3) Being administratively sanctioned according to the provisions of the law on handling administrative violations due to violations specified in points b, c, or d1 Clause 1 Article 9 of the Law on property auction 2016, amended by point a Clause 5 Article 1 of the Law amending Law on property auction 2024 and supplemented by point b Clause 5 Article 1 of the Law amending Law on property auction 2024;
(4) Voluntarily ceasing to practice;
(5) Being declared missing or dead.
The Law amending Law on property auction 2024 shall take effect from January 1, 2025, except for the provisions stipulated in Article 3 of the Law amending Law on property auction 2024.
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