Decree 129: Procedures for liquidation of irrigation infrastructure property in Vietnam

Decree 129: Procedures for liquidation of irrigation infrastructure property in Vietnam (Illustrative image)

According to the provisions in Article 29 of Decree 129/2017/ND-CP, the procedures for the liquidation of irrigation infrastructure property in Vietnam are carried out as follows:

- The agency assigned to manage the property prepares a dossier requesting liquidation and sends it to the competent authority specified in Clause 2 of this Article for consideration and decision. The dossier requesting the liquidation of property includes:

- Written request for asset liquidation from the agency assigned to manage the property: 01 original;- List of property proposed for liquidation (type, quantity, condition, original price, remaining value, reason for liquidation) according to Form No. 06/TSTL-DM issued with this Decree: 01 original;- Written opinion from the specialized agency on construction regarding the condition of the property and repair capability: 01 copy;- Other related documents and materials: 01 copy.

- Within 30 days from the date of receiving a complete and valid dossier, the competent authority will consider and issue a decision on the liquidation of irrigation infrastructure property. The main contents of the Decision include: Name of the agency assigned to manage the property; List of property for liquidation (type, quantity, original price, remaining value, reason for liquidation); Form of liquidation; Management and use of proceeds from liquidation; Responsibility for implementation.

- Within 30 days from the date of the competent authority's liquidation decision, the agency assigned to manage the property will carry out the liquidation of the property as regulated;

- Payment for the purchase of property (if any) and remittance of proceeds into the temporary account at the State Treasury are carried out as regulated;

- After completing the liquidation of property, the agency assigned to manage the property performs accounting reduction, report declaration of asset changes as stipulated in this Decree and related laws.

More details can be found in Decree 129/2017/ND-CP which comes into force in Vietnam from January 1, 2018.

Ty Na

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