Decree 97: New Regulations on Revaluation of Assets in Criminal Proceedings

Illustration (source: internet)

According to the regulations, the revaluation of assets in criminal proceedings is conducted when there is suspicion about the initial valuation conclusion carried out by the competent proceeding authorities with sufficient basis for such suspicion.

This revaluation is conducted by the higher-level valuation council:

- The provincial-level valuation council revalues assets initially valued by the district-level valuation council;

- The ministerial-level valuation council revalues assets initially valued by the provincial-level valuation council;

- The valuation council following the decision of the Prime Minister of the Government of Vietnam revalues assets initially valued by the ministerial-level valuation council. The valuation conclusion of the valuation council following the decision of the Prime Minister of the Government of Vietnam is the final conclusion on the asset's value.

Additionally, the second revaluation of assets is conducted when there is a conflict between the initial valuation conclusion and the revaluation conclusion on the value of the assets needing valuation, provided that the following conditions are met:

- The revaluation conclusion differs from the initial valuation conclusion when both the initial valuation and the revaluation have complied with the principles, procedures, and valuation processes stipulated in this Decree, applying the correct information and characteristics of the assets needing valuation and the content request for valuation;

- The competent proceeding authorities continue to have sufficient basis to doubt the revaluation conclusion.

Decree 97/2019/ND-CP stipulates that the second revaluation will be carried out by the valuation council at the same level as the valuation council established for the revaluation, specifically:

- The provincial-level valuation council conducts the second revaluation in case of a conflict between the initial valuation conclusion by the district-level valuation council and the revaluation conclusion by the provincial-level valuation council.

- The ministerial-level valuation council conducts the second revaluation in case of a conflict between the initial valuation conclusion by the provincial-level valuation council and the revaluation conclusion by the ministerial-level valuation council.

Moreover, the revaluation of assets stipulated in Decree 97/2019/ND-CP and Decree 30/2018/ND-CP is conducted according to the general principles, procedures, and valuation guidelines stipulated in Decree 30 and related laws. The competent proceeding authorities are responsible for submitting all relevant documents and information about the assets needing valuation, along with documents explaining the legal basis and reasons for doubting the valuation and revaluation results, to the higher-level valuation council.

See more regulations in Decree 97/2019/ND-CP, which takes effect from February 15, 2020.

Thu Ba

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