Vietnam: Loss of ownership if sunken property is not reported

09:02, 07/05/2017

This is the content of Decree No. 05/2017/NĐ-CP of Vietnam’s Government on treatment of property sunk in inland waterways, port waters and territorial waters of Vietnam.

According to Decree No. 05/2017/NĐ-CP of Vietnam’s Government, with regard to shipwrecked property in the port waters and territorial waters of Vietnam, the owner of shipwrecked property shall be deprived from ownership of such property if notification of salvage is not issued or salvage of such property fails to meet the prescribed deadline.

In this case, such shipwrecked property shall automatically become the state-owned property. Authority to treat shipwrecked property is as follows:

- The Ministry of Transport shall take charge of conducting treatment of dangerous shipwrecked property.

- The Ministry of Culture, Sports and Tourism Transport shall take charge of conducting treatment of shipwrecked property considered as cultural relics.

- The Ministry of National Defense shall take charge of treating shipwrecked property relating to national defense and those that have been discovered in military zones.

- The Ministry of Public Security shall take charge of treating shipwrecked property relating to national security.

- The People’s Committees of provinces shall take charge of treating shipwrecked property other than those referred to above.

View details in Article 6 of Decree No. 05/2017/NĐ-CP and Articles 281, 284 of Vietnam Maritime Code 2015.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

51 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn