Missing a deposit can result in a penalty of 6 months to 5 years.
On the afternoon of June 27, continuing the 7th Session, with 463/463 delegates participating in the vote (100%), the National Assembly passed the Law amending and supplementing a number of articles of the Law on Property Auction.
Accordingly, the Law amending and supplementing a number of articles of the Law on Property Auction has added provisions on auctions of securities, public assets and vehicle license plates.
Specifically, the auction of securities is carried out in accordance with the provisions of the law on securities.
The auction of public assets of Vietnamese agencies abroad is carried out in accordance with the provisions of law on management and use of public assets.
The auction of license plates is carried out in accordance with the provisions of law on road traffic order and safety.
Regarding handling of violations by auction participants, auction winners, individuals and related organizations, the law clearly stipulates that auction winners of land use rights in cases of land allocation and lease to implement investment projects and mineral exploitation rights, if they violate the obligation to pay the auction winning price, leading to the decision to recognize the auction results being canceled, then depending on the nature and severity of the violation, they will be banned from participating in auctions for that type of property for a period of 6 months to 5 years.
Chairman of the Economic Committee Vu Hong Thanh.
Previously, presenting a report explaining, accepting and revising the draft Law amending and supplementing a number of articles of the Law on Property Auction, Chairman of the Economic Committee Vu Hong Thanh added that regarding auctioned assets , there were opinions suggesting that the auction of vehicle license plates must be carried out in accordance with the process and procedures for property auctions of the Law on Property Auction; and suggesting the addition of regulations on carbon credit auctions.
The Standing Committee of the National Assembly believes that, regarding the auction of vehicle license plates, the draft Law amends and supplements Clause 2, Article 3 of the current Law in the direction that "the auction of vehicle license plates is carried out in accordance with the provisions of the law on road traffic order and safety", in order to ensure conformity with the specific nature of the auction of vehicle license plates as well as consistency with the draft Law on Road Traffic Order and Safety.
Regarding carbon credit auctions, at Point p, Clause 1, Article 4 of the draft Law, there are general provisions on other assets that specialized laws require to be auctioned to ensure comprehensiveness, completeness and foresight of assets that may arise in the future, including carbon credits.
At the same time, it is recommended that the Government continue to research and evaluate when summarizing the pilot implementation of the carbon credit trading floor to have a basis for auctioning this type of asset according to the order and procedures of the Law on Asset Auction.
Only family members are prohibited from bidding on the same property.
Regarding the regulations on handling violations against auction winners who do not pay the auction winning money, the National Assembly Standing Committee clarified: "The draft Law only stipulates sanctions for cases where auction winners of land use rights and mineral exploitation rights violate the obligation to pay the auction winning money because these are two special types of assets with great value, greatly affecting the real estate market, securities, construction material prices..."
Therefore, the addition of a provision prohibiting auction winners of these assets from participating in auctions within a certain period of time depending on the nature and severity of the violation is aimed at preventing negative behaviors, market manipulation, and preventing the abandonment of deposits or inflating asset values for profit in asset auctions.
Regarding the rights and obligations of the person whose property is being auctioned, the Standing Committee of the National Assembly found that the Law on Property Auction only regulates the order and procedures for property auction, while the decision to auction the property in lots or for each independent property is up to the person whose property is being auctioned according to the provisions of specialized laws.
In response to delegates' opinions, to enhance clarity and transparency, the draft Law has been revised to amend and supplement provisions on the Auction Regulations.
The National Assembly deputies voted to pass the Law amending and supplementing a number of articles of the Law on Property Auction.
Accordingly, for each auction, the property auction organization will issue the Auction Regulations before the date of listing the property auction, which must clearly identify whether the property will be auctioned in lots or separated into independent properties.
At the same time, the Auction Regulations must be publicly announced on the National Asset Auction Portal, ensuring clarity and transparency so that all subjects can access information about the auction, thereby deciding whether to register to participate in the auction or not.
Regarding registration to participate in the auction , Mr. Vu Hong Thanh said that some opinions suggested considering the regulation in Clause 4, Article 38 on restricting fathers, mothers, wives, husbands, children, brothers, sisters, and siblings from registering to participate in the auction; there should be a mechanism to ensure feasibility in practice, as well as ensure the rights of individuals when participating in the auction.
The Standing Committee of the National Assembly accepted and revised the draft Law in the direction of transferring the provisions at Point e, Clause 4, Article 38 on cases not allowed to register to participate in auctions to Point d2, d3, Clause 5, Article 9 on prohibited acts to have a basis for handling when violations are detected (post-audit);
At the same time, narrow the scope of subjects prohibited from participating in auctions to only prohibit spouses, brothers, sisters, and siblings from participating in auctions for the same property to ensure consistency with recent practices .
Source: https://www.nguoiduatin.vn/nguoi-bo-coc-dau-gia-dat-khoang-san-co-the-bi-cam-dau-gia-den-5-nam-a670416.html
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