The Government to agree on a number of contents of the Law amending Law on Property Auction in Vietnam

The Government to agree on a number of contents of the Law amending Law on Property Auction in Vietnam (Internet image)

The Government to agree on a number of contents of the Law amending Law on Property Auction in Vietnam

The content mentioned in Resolution 115/NQ-CP on thematic session on lawmaking in July 2023 issued by the Government. Regarding the draft Law amending and supplementing a number of articles of the Law on Property Auction:

The Government of Vietnam agreed on the necessity of developing a Law project to concretize the guidelines of the Party and the State's policies on promoting administrative reform, judicial reform, and preventing and combating corruption and misconduct attitudes in handling public property; ensure the uniformity and consistency of the legal system; and overcome limitations and inadequacies in the implementation of the Law on Property Auction 2016.

The Government of Vietnam basically agreed on the amendments and supplements in the draft Law. The Ministry of Justice shall assume the prime responsibility for, and coordinate with the Government Office and relevant ministries and agencies in, continuing to study and absorb as much as possible the opinions of the Government members with the following requirements:

- Researching and fully institutionalizing the Party's guidelines on socio-economic development, management and use of natural resources, land, administrative reform, judicial reform, anti-corruption, misconduct... in the process of formulating and finalizing the Law project.

- Thoroughly summarizing the implementation of the Law on Property Auction 2016, clearly explaining the provisions still suitable for inheritance; regulations are no longer consistent with reality, not in accordance with Vietnam's commitments in international treaties, ensuring compliance with Vietnam's actual conditions. The content of the explanation should carefully analyze the political, legal, and practical bases of the inheritance, amendment, and supplementation of each specific regulation.

- Reviewing the draft Law, ensuring consistency and synchronization with the current Codes and Laws and law projects being submitted by the Government to the National Assembly, such as: Civil Code, Law on Management and Use of Public Property, Competition Law, Law on Radio Frequency, Law on Pricing (amended), Law on Cooperatives (amended), Law on Minerals, Law on Handling of Administrative Violations, the Land Law (amended) project, the Credit Institutions Law (amended) project...

- The provisions of the draft Law must clearly show the principles and policy of promoting decentralization and decentralization in state management on asset auctions; central agencies must focus on formulating mechanisms and policies, conducting inspections and examinations in order to ensure law enforcement; and clearly define the responsibilities of agencies, organizations, and individuals involved in auction activities.

- Auction orders and procedures must ensure transparency, feasibility in practice, protect the interests of the State and the legitimate rights and interests of organizations and individuals involved in asset auction activities; strengthen the application of science and technology in the management and implementation of the auction process, and promote the application of online auctions.

- Completing regulations on standards and conditions of auctioneers, asset auction organizations, organizations and individuals participating in auctions, auctioned assets, and prepayments and handling prepayments and legal responsibilities of organizations and individuals related to auction activities and auctions in order to improve quality and professionalism in auction activities; anti-corruption, misconduct behavior, violations of rights of property owners, auction participants, the expression "green army, red army," and other illegal acts in the field of asset auction.

- Reviewing regulations on auction of specific assets (such as land use rights, mineral mining rights, radio frequency usage rights, license plates...), ensuring the principles of the Law on Property Auction on the order and procedures for asset auction, before and after the auction, such as: appraise auctioned assets, set prices, determine starting prices, conditions of auction participants, approve auction results, sign purchase and sale contracts, pay auction winnings, hand over auctioned assets ... comply with the provisions of the Specialized Law; study the auction of a number of other specific properties such as the right to operate highways, state shares, debt trading...; study and develop general regulations on auction of specific properties to ensure the stability and long-term validity of the Law, and to have a basis for handling when other types of specific properties arise in practice.

On the basis of receiving the opinions of the Government members, the Ministry of Justice completes the project file of the Law amending and supplementing a number of articles of the Law on Property Auction, and reports it to the Prime Minister before submitting this Law to the National Assembly at its 6th Session, October 2023.

The Government assigned Deputy Prime Minister Tran Luu Quang to direct the completion of this Law project.

More details can be found in Resolution 115/NQ-CP in 2023.

Duong Chau Thanh

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