If practicing certificates of lawyer are revoked, will practice certificates of asset management officers also be revoked in Vietnam?

If practicing certificates of lawyer are revoked, will practice certificates of asset management officers also be revoked in Vietnam?

Pursuant to Article 15 of the 2014 Bankruptcy Law, there are provisions on revocation of practice certificates of asset management officers as follows:

1. An issued practice certificates of asset management officers shall be revoked if the obtainers are:

a) Officials and civil servants; military officers, professional soldiers and military workers who are working in the offices and bases of the People’s Army; professional commissioned and non-commissioned officers who are working in the offices and bases of the Police Authorities.

b) Individuals who are convicted and the sentence

c) Individuals whose practicing certificates of lawyer or auditor is revoked;

d) individuals replaced according to Point a and b of Clause 1 Article 46 of this Law in 02 or more bankruptcy cases.

2. The Government shall regulate the revocation of practice certificate of asset management officer.

Thus, if you have had your practicing certificate of lawyer revoked, your license to practice certificate of asset management officer will also be revoked in Vietnam.

Can revoked practice certificates of asset management officers be re-issued in Vietnam?

Pursuant to Article 5 of Decree 22/2015/ND-CP, there are regulations on reissuance of the asset management officer’s practicing certificate as follows:

1. The persons who have been issued with the asset management officer’s practicing certificate, if their practicing certificate has been lost or damaged to the extent that it can not be used any more, shall be considered, reissued with another practicing certificate.

2. The application for reissuance of the asset management officer’s practicing certificate shall be composed of the followings:

a) An application form for reissuance of the asset management officer’s practicing certificate by completing the form No. TP-QTV-03 issued herewith;

b) 2 color photos, size 3cm x 4cm.

3. The applicant must send 01 set of documents submitted to apply for reissuance of the asset management officer’s practicing certificate by post or directly to the Ministry of Justice, and pay reissuance fee stipulated by laws. Within a permitted period of 15 days of receipt of all valid documents, the Ministry of Justice shall be responsible for reissuing the asset management officer’s practicing certificate to the applicant.

Thus, there is no provision that the practice certificates of asset management officers can be re-issued if revoked. Therefore, if you have your practice certificate of asset management officer revoked, it will not be reissued in Vietnam.

Best Regards!