Additional requirements to be satisfied by legal representative, director of valuation enterprises in Vietnam 

Additional requirements to be satisfied by legal representative, director of valuation enterprises in Vietnam 
Đức Thảo

Recently, the Government of Vietnam issued Decree 12/2021/ND-CP on amendments to a number of articles of Decree 89/2013/ND-CP on elaboration of some Articles of the Law on Prices regarding valuation.

According to Clause 2, Article 1 of Vietnam's Decree 12/2021/ND-CP, Article 8a has been added after Article 8 of Vietnam's Decree 89/2013/ND-CP on the requirements to be satisfied by the legal representative, director or general director of a valuation enterprise

  • He/She is a valuator who has registered to practice at the enterprise as prescribed in Point c Clause 1 or Point c Clause 2 or Point c Clause 3 or Point c Clause 4 or Point c Clause 5 Article 39 of Vietnam's Law on Prices.
  • He/She has acted as a valuator for at least 03 years (36 months) before becoming the legal representative, Director or General Director of the valuation enterprise.

  • He/She has not been the legal representative, Director or General Director of a valuation enterprise whose Certificate of eligibility to provide valuation services has been revoked for a period of 01 year (12 months) by the time of submitting the application for issuance or re-issuance of the certificate of eligibility to provide valuation services.

More details can be found in Vietnam's Decree 12/2021/ND-CP takes effect from May 1, 2021.

 

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