Vietnam: The holder of an auction practice certificate who has failed to practice auction for 2 years shall have his/her certificate revoked

Specifically, according to Article 16 of the Law on Property Auction 2016 of Vietnam, the holder of an auction practice certificate will have such certificate revoked in the following cases:

- One of the cases specified in Article 15 of this Law;

- He/she has failed to practice auction under Clause 1, Article 18 of this Law for 2 years after being granted the certificate, except where his/her failure is caused by a force majeure event;

- He/she is administratively sanctioned in accordance with the law on handling of administrative violations for the act prescribed at Point b or c, Clause 1, Article 9 of this Law;

- He/she is willing to quit practicing;

- He/she is declared missing or dead.

Order and procedures for the revocation of an auction practice certificate

According to Clause 2 Article 16 of the Law on Property Auction 2016 of Vietnam, the revocation of an auction practice certificate shall be carried out as follows:

- Within 20 days after receiving information that the auction practice certificate holder falls into one of the cases subject to certificate revocation, the provincial-level Justice Department of the locality where the organization in which he/she practices is located or where he/she permanently resides in case he/she has not yet commenced practice shall conduct the verification of information;

- Within 7 working days after obtaining a ground to believe that the auction practice certificate holder falls into one of the cases subject to certificate revocation, the provincial-level Justice Department shall request in writing the Ministry of Justice to revoke his/her auction practice certificate and relevant papers;

- Within 15 days after receiving a written request from the provincial-level Justice Department, the Minister of Justice shall issue a decision to revoke the auction practice certificate. 

- Such decision shall be sent to the certificate holder, organization where he/she practices and provincial-level Justice Department requesting the revocation. In case there are insufficient grounds for certificate revocation, the Ministry of Justice shall notify such in writing to related agencies, organizations and individuals.

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