This afternoon, May 21, the National Assembly discussed in the hall a number of contents with different opinions of the draft Law amending and supplementing a number of articles of the Law on Property Auction.
Regarding the regulations on deposits and handling of deposits, presenting the report on acceptance and explanation, Chairman of the Economic Committee Vu Hong Thanh said, accepting the opinions of National Assembly deputies, the draft law stipulates more clearly the deposits for some special assets and often assets of great value, which can affect the stock market and real estate market.
The minimum deposit is 10% and the maximum is 20% of the starting price to help limit the situation of auction winners abandoning their deposits, ensuring consistency with current legal regulations on minerals, land, radio frequencies, etc. and the practical application of auctions for some of these special types of assets.
At the same time, the draft has added that in the case of auctioning the right to lease assets where the starting price is determined according to the annual rental price, the minimum deposit is 5% and the maximum is 20% of the starting price multiplied by the lease term.
The Standing Committee of the National Assembly believes that raising the deposit level for some special assets such as land use rights in cases of land allocation and lease for investment projects, mineral exploitation rights and other assets is inappropriate because these special assets often have very large values.
According to the report of the Ministry of Justice, the implementation of the regulation on the deposit level from 5% to 20% of the current law is basically suitable for practice, creating conditions to attract many people to participate in the auction.
Thus, raising the deposit amount does not completely resolve the situation of abandoning the deposit after winning the auction of assets, but also limits the number of people eligible to participate in the auction of assets, especially small-scale but potential investors; at the same time, the situation of auction winners "abandoning the deposit" must be handled in other forms, not just by regulating the increase of the deposit amount.
“However, in the coming time, it is recommended that the Government study and complete the regulations on deposit money in the direction of increasing cumulatively after each price step when comprehensively amending the Law on Property Auction to prevent auction participants from paying unusually high prices during the auction process but then abandoning the deposit,” according to Mr. Vu Hong Thanh.
Regarding sanctions for violations against auction winners who do not pay the auction winning money, Chairman Vu Hong Thanh said that the draft law has added cases where auction winners of land use rights in cases of land allocation or lease to implement investment projects or mineral exploitation rights violate the obligation to pay the auction winning money, leading to the decision to recognize the auction results being canceled. Depending on the nature and severity of the violation, the auction winner will be banned from participating in the auction for that type of property for a period of 6 months to 5 years.
According to Mr. Vu Hong Thanh, the design of the above regulation is based on research and reference to the provisions in Article 87 of the 2023 Law on Bidding to prevent negative behaviors, market manipulation, and prevent the situation of deposit cancellation or inflating asset value for profit in asset auction activities.
At the same time, the draft law has added a provision that the competent authority deciding to prohibit participation in auctions is the competent authority approving the auction results; the decision to prohibit participation in auctions must be sent to the organization or individual being handled and relevant agencies and organizations, and at the same time sent to the Ministry of Justice and must be posted on the National Property Auction Portal and assigned to the Government to specify these contents in detail.
Chairman Vu Hong Thanh said that up to now, the Government has not issued any documents, so there is no basis to legalize the contents of Resolution No. 73/2022/QH15 on pilot auction of car license plates.
After receiving the official document from the Government, the Standing Committee of the National Assembly will direct the committees to coordinate with the drafting agency and relevant agencies to continue reviewing and perfecting the documents to ensure consistency between the provisions of the draft Law amending and supplementing a number of articles of the Law on Property Auction and the draft Law on Road Traffic Order and Safety before submitting it to the National Assembly for consideration and approval at the 7th Session.
Source: https://vov.vn/chinh-tri/trung-dau-gia-dat-ma-khong-nop-tien-se-bi-xu-ly-the-nao-post1096606.vov
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