Procedures for withdrawal of public property in Vietnam from October 30, 2024

Procedures for withdrawal of public property in Vietnam from October 30, 2024​ (Image from Internet)

On September 15, 2024, the Government of Vietnam issued Decree 114/2024/ND-CP amending and supplementing certain articles of Decree 151/2017/ND-CP detailing certain provisions of the Law on Management and Use of Public Property.

Procedures for withdrawal of public property in Vietnam from October 30, 2024

To be specific: in Article 18 of Decree 151/2017/ND-CP (amended in Decree 114/2024/ND-CP), the procedures for withdrawal of public property in Vietnam from October 30, 2024, are stipulated as follows:

(1) In case a government agency assigned to manage and use public assets voluntarily returns the assets to the State as prescribed in Point g, Clause 1, Article 41 of the Law on Management and Use of Public Property 2017:

- The government agency assigned to manage and use the assets compiles one set of documents and sends them to the superior supervisory agency (if any) for review and requests the authorized agency or person to reclaim the assets as prescribed in Article 17 of Decree 151/2017/ND-CP for consideration and decision.

The dossier proposing to return assets to the State includes:

+ The proposal document for returning the assets from the government agency assigned to manage and use the assets: 1 original copy;

+ The proposal document from the superior supervisory agency (if any): 1 original copy;

+ List of assets proposed for return to the State (type, quantity; condition; original cost, remaining value according to accounting books): 1 original copy;

+ Other relevant documents related to the proposal to return the assets (if any): 1 photocopy.

- Within 30 days from the date of receipt of a complete and valid dossier, the agency or person authorized according to Article 17 of Decree 151/2017/ND-CP decides to reclaim assets or provides written feedback in case the proposal to return the assets is not appropriate.

The main contents of the Decision to reclaim public assets include:

+ The name of the government agency with reclaimed assets;

+ List of reclaimed assets (type, quantity; original cost, remaining value according to accounting books; reason for reclaiming);

+ Responsibility for organizing implementation.

- Within 30 days from the date of the decision to reclaim assets of the authorized agency or person, the government agency with reclaimed assets shall hand over all assets and related documents to the agency assigned to perform the task of managing public assets as stipulated in Clauses 2 and 3, Article 19 of the Law on Management and Use of Public Property 2017. Specifically:

+ Hand over to the agency assigned to perform the task of managing public assets as prescribed in Clause 2, Article 19 of the Law on Management and Use of Public Property 2017 for assets reclaimed by the Minister or Head of the central authority;

+ Hand over to the Department of Finance for public assets reclaimed by the provincial-level authorized agency or person;

+ Hand over to the District Financial and Planning Department for public assets reclaimed by the district or commune-level authorized agency or person.

- The exploitation and disposal of assets after the decision to reclaim is made are performed according to the regulations in Article 19 of Decree 151/2017/ND-CP.

(2) In case of withdrawal of public property according to the provisions of Points a, b, c, d, dd, and e, Clause 1, Article 41 of the Law on Management and Use of Public Property 2017:

- The agencies with the function of inspection, audit, administrative violation sanction, and other state management agencies when detecting public assets under the cases specified in Points a, b, c, d, dd, and e, Clause 1, Article 41 of the Law on Management and Use of Public Property 2017 shall send a written proposal and transfer the dossier (if any) to the authorized agency or person to reclaim the assets as prescribed in Article 17 of Decree 151/2017/ND-CP for consideration and decision according to legal regulations;

- Within 30 days from the date of receipt of the proposal and dossier (if any) from the agencies specified in Point a of this Clause, the authorized agency or person to reclaim assets according to Article 17 of Decree 151/2017/ND-CP shall check and verify the management and use of public assets according to the proposal;

- Within 30 days from the date of completion of the inspection and verification, the authorized agency or person according to Article 17 of Decree 151/2017/ND-CP shall decide to reclaim the assets if the assets are subject to reclaiming according to legal regulations.

The main contents of the Decision to reclaim public assets shall follow the regulations in Point b, Clause 1, Article 18 of Decree 151/2017/ND-CP.

In case, after checking and verifying, the assets are not subject to reclaiming according to legal regulations, the authorized agency or person according to Article 17 of Decree 151/2017/ND-CP shall notify the proposing agency in writing.

- The handover of assets after the decision to reclaim is made shall follow the regulations in Point c, Clause 1, Article 18 of Decree 151/2017/ND-CP. The exploitation and disposal of assets after the decision to reclaim is made shall follow the regulations in Article 19 of Decree 151/2017/ND-CP.

(3) In the case of withdrawal of public property according to Point h, Clause 1, Article 41 of the Law on Management and Use of Public Property 2017, the authority, procedures, and handling, exploitation of assets after reclaiming shall be implemented according to related laws; if the related law does not provide for these contents, the implementation shall follow Clauses 1 and 2 of Article 18 of Decree 151/2017/ND-CP.

More details can be found in Decree 114/2024/ND-CP which comes into force in Vietnam from October 30, 2024.

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