Vietnam: What are the duties of the Mineral Mining Rights Auction Council during the auction?

Vietnam: What are the duties of the Mineral Mining Rights Auction Council during the auction? (Illustrative image)

Article 5 of Circular 16/2014/TT-BTNMT stipulates the duties of the Mineral Mining Rights Auction Council during the auction in Vietnam as follows:

- Approving the auction regulations and rules for the mineral mining rights auction drafted by the Standing Committee.

- Deciding on the preliminary deposit amount and the bidding step for the auction.

- Organizing and managing the auction.

- Verifying and presenting the results of the mineral mining rights auction to the licensing authority for approval.

- Handling violations occurring during the auction; supervising the auction (in cases where a professional auction organization is hired).

- Settling complaints and denouncements during the implementation of the mineral mining rights auction.

In addition, each member of the Auction Council has the following responsibilities and powers:

- During the performance of duties, comply with the auction rules and regulations

- Perform duties assigned by the Chairman of the Auction Council in accordance with the required demands and stipulated time.

- Timely report to the Chairman of the Auction Council about any violations or suspicious signs during the duty performance to take necessary measures.

- Be accountable to the Chairman of the Auction Council and to the law for the assigned duties.

- Attend meetings and auctions for mineral mining rights organized by the Auction Council; discuss and vote on issues raised in the meetings or auctions, or provide written opinions.

- Be provided with related auction documents and have the right to request detailed information or clarifications from the Standing Committee of the Auction Council.

- Have the right to suggest that opinions be recorded in documents related to the mineral mining rights auction.

More details can be found in Circular 16/2014/TT-BTNMT effective from June 2, 2014.

Thuy Tram

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