New Regulations on the Disclosure of Asset Declarations

According to Clauses 17, 18 Article 1 of the amended 2012 Anti-Corruption Law, adding Articles 46a, 46b after Article 46 of the Anti-Corruption Law 2005, the disclosure of asset declarations of individuals required to declare is implemented as follows:

- The asset declaration of individuals required to declare must be disclosed within the agency, organization, or unit where that person regularly works.

The person with authority to manage officials and public employees decides the disclosure form either by announcement at a meeting or by posting the declaration at the headquarters of the agency, organization, or unit.

The timing of the disclosure is carried out between January 1 to March 31 each year. If the disclosure is in the form of posting, it must ensure a continuous minimum period of 30 days.

- The asset declaration of candidates for the National Assembly and People's Council members must be disclosed at the voters' conference at the workplace of the candidate. The timing and form of disclosure are regulated by the Election Council.

- The asset declaration of individuals expected to be elected or approved in the National Assembly, People's Council must be disclosed to National Assembly delegates and People's Council delegates at the session. The timing and form of disclosure are regulated by the Standing Committee of the National Assembly and the Standing Committee of the People's Council.

The law also stipulates that the individual declaring assets is obliged to explain the origin of the increased assets specified in Clause 2, Article 44 of the Anti-Corruption Law 2005.

The Government of Vietnam regulates the value threshold of the increased assets and determines the value of the increased assets, the authority to request explanations, the responsibility of the individual providing the explanation, as well as the procedures for such explanations.

More details can be found in the amended 2012 Anti-Corruption Law effective February 1, 2013.

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