Cases of revocation of auction practice certificates in Vietnam

Criteria for grant of auction practice certificates in Vietnam

Pursuant to the provisions of Article 10 of the Law on Property Auction 2016, an auctioneer must fully satisfy the following criteria:

- Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;

- Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

- Having graduated from an auction training course prescribed in Article 11 of the Law on Property Auction 2016, except where he/she is exempted from such a course under Article 12 of the Law on Property Auction 2016;

- Having passed the examination of auction practice internship results.

Within 15 days after receiving a complete and valid dossier, the Minister of Justice shall decide to grant an auction practice certificate. In case of refusal to grant such certificate, he/she shall state the reason in writing. Persons whose applications for auction practice certificates are rejected may file complaints or initiate lawsuits in accordance with law.

An auction practice certificate holder shall be granted an auctioneer card by the provincial-level Justice Department at the request of the property auction organization where he/she practices.

Cases of revocation of auction practice certificates in Vietnam (Internet image)

Cases of revocation of auction practice certificates in Vietnam

Pursuant to Clause 1, Article 16 of the Law on Property Auction 2016,

The holder of an auction practice certificate will have such certificate revoked in the following cases:

(1) One of the cases specified in Article 15 of the Law on Property Auction 2016;

(2) He/she has failed to practice auction under Clause 1, Article 18 of the Law on Property Auction 2016 for 2 years after being granted the certificate, except where his/her failure is caused by a force majeure event;

(3) 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 the Law on Property Auction 2016;

(4) He/she is willing to quit practicing;

(5) He/she is declared missing or dead.

Order and procedures for revocation of auctioneer practice certificates

Pursuant to Clause 2, Article 16 of the Law on Property Auction 2016, the revocation of an auction practice certificate shall be carried out according to the following order and procedures:

- Within 20 days after receiving information that the auction practice certificate holder falls into one of the cases subject to certificate revocation specified in Clause 1 of Article 16 of the Law on Property Auction 2016,

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 of 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.

Mai Thanh Loi

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