Market Inspectors' Authority to Sanction Enterprises Without Business Licenses Selling Gold Bars
According to Clause 2, Article 55 of Decree 88/2019/ND-CP stipulating the authority to impose administrative penalties of the Market Management Agency:
Market controllers shall impose penalties for administrative violations specified in Clause 1, Article 23, and Clause 1, Article 24 of this Decree;
Referring to Clause 1, Article 24 of this Decree, the following violations shall be subject to a warning penalty:
- Buying or selling gold bars with credit institutions or enterprises without a Gold Bar Trading License;
- Using gold as a means of payment.
Thus, in the case that your enterprise does not have a Gold Bar Trading License, the market controller has the authority to impose penalties according to current regulations.
Respectfully!
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