Vietnam’s Circular 29: Handling of selling public property without decisions issued by competent authorities

According to the Circular No. 29/2020/TT-BTC of the Ministry of Finance of Vietnam, the act of selling, transferring, liquidating or destroying property without decisions issued by competent authorities prescribed in Clause 3 Article 20 of Decree No. 63/2019/NĐ-CP is the failure to obtain a decision issued by a competent authority in accordance with the Law on management and disposal of property of state-funded projects at the time of selling, transferring, liquidating or destroying such property.

Moreover, the act of failure to request competent authorities to establish all-people ownership of property transferred by project experts or supervision consultancy contractors to Vietnam Government prescribed in Point b Clause 1 Article 20 of Decree No. 63/2019/NĐ-CP is the act of failure to carry out procedures for establishing all-people ownership of such property within the relevant time limit prescribed in Decree No. 29/2018/ND-CP dated March 05, 2018 prescribing procedures for establishing all-people ownership of property and disposal of property under established all-people ownership.

Besides, fines imposed on administrative violations in the field of management and utilization of public property prescribed in Section 1 through 4 Chapter II of Decree No. 63/2019/NĐ-CP of Vietnam’s Government shall be determined according to the following principles:

- The fine imposed on a violation without aggravating or mitigating factors is the average of the maximum fine and minimum fine of the fine bracket for that violation. Where mitigating factors are considered, the fine imposed on the violation may be reduced but shall not be lower than the minimum fine of the fine bracket for that violation; Where aggravating factors are considered, the fine imposed on the violation may be increased but shall not exceed the maximum fine of the fine bracket for that violation.

- Aggravating and mitigating factors are defined according to Article 9 and Article 10 of the Law on Penalties for Administrative Violations of Vietnam dated June 20, 2012.

View more details at Circular No. 29/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from June 02, 2020.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE