On the morning of March 14, continuing the 31st session, the National Assembly Standing Committee gave opinions on a number of major issues regarding the explanation, acceptance, and revision of the draft Law amending and supplementing a number of articles of the Law on Property Auction.
Deputy Chairman of the National Assembly's Economic Committee Nguyen Minh Son reported at the meeting.
Reporting at the meeting, Deputy Chairman of the National Assembly's Economic Committee Nguyen Minh Son said that after being received and revised, the draft Law has amended and supplemented 42 articles and clauses of the current Law; increasing 16 articles and clauses compared to the draft Law submitted to the National Assembly at the sixth session, but mainly amending the legislative technique, not creating many new policies. Therefore, the construction of the draft Law amending and supplementing a number of articles of the Law on Property Auction is in line with the scope of the amendment.
Regarding the deposit and deposit handling, the implementation of the current Law's provision on the deposit level from 5% to 20% is basically consistent with reality, creating conditions to attract many people to participate in the auction. International practice does not have specific regulations on the deposit level for participating in auctions, accordingly, auction companies set their own deposit level depending on the type of auctioned property and the form of auction.
Session view.
Regarding online auctions and the application of online auctions for public assets, the Standing Committee of the Economic Committee proposed to incorporate additional provisions in the draft Law on Online Auctions on the basis of legalizing regulations on online auctions in accordance with practice; at the same time, it is stipulated that in cases where public asset auctions are conducted in the form of online auctions, the National Asset Auction Portal built, managed and operated by the Ministry of Justice must be used to promote the application of information technology, promote digital transformation in auction activities, and ensure network safety and security; on the other hand, this is considered a solution to minimize collusion, price suppression, negativity and loss of state assets in asset auction activities.
Deputy Chairman of the Economic Committee Nguyen Minh Son said that the Standing Committee of the Economic Committee reported to the Standing Committee of the National Assembly a number of major issues of the draft Law related to auctions in cases where there is only one person registering to participate in the auction, one person participating in the auction, one person bidding; on sanctions for violations against auction winners who do not pay the auction winning money; on the cancellation of asset auction service contracts in cases where there has been a decision, judgment or the process of compulsory asset seizure that violates the law and cancels the asset auction results...
Regarding information on assets and information disclosure, discussed at the meeting, Secretary General of the National Assembly, Head of the National Assembly Office Bui Van Cuong said that through practical work, it can be seen that there are some difficulties and shortcomings in actual incidents that have occurred. Specifically, according to the draft, each asset must clearly state the name of the person owning the asset for auction, information about the asset for auction; however, information about the asset for auction, about real estate is often not guaranteed to be transparent. In addition, the Secretary General of the National Assembly, Head of the National Assembly Office proposed stricter regulations on the disclosure of information related to auctioned assets.
National Assembly Chairman Vuong Dinh Hue speaks at the discussion.
Speaking at the meeting, Politburo member and National Assembly Chairman Vuong Dinh Hue said that the procedures for participating in asset auctions should continue to be reviewed to complete the contents to ensure feasibility; along with the issue of interest rates, regulations on prepayments; regulations that provide a framework for the Government to specify in detail to increase online auctions; and research to supplement regulations allowing for a reduction in the starting price of assets after each unsuccessful auction.
Emphasizing that the draft Law is highly specialized and technical but is related to administrative procedures, administrative reform, rights and interests of the parties and related to many other draft laws, the National Assembly Chairman suggested that the Economic Committee listen to the agencies, along with that, the agencies of the National Assembly, ministries and branches participate in giving additional comments to the draft Law to ensure higher quality and resolve the bottlenecks pointed out.
Minister of Justice Le Thanh Long accepted the opinions of the National Assembly Standing Committee.
Regarding the auction conducted in the form of online auction, accepting the opinion of the National Assembly Standing Committee, Minister of Justice Le Thanh Long said that he will move towards the socialization plan and develop online auction software. However, the spirit of the drafting agency is not to force all auction activities to comply, but to respect the right of each person to choose according to the market and civil mechanism. "Currently, there are some units conducting online auctions, administrative imposition may lead to not ensuring the principle of fair competition, the drafting agency will pay attention and carefully study this issue", said the Minister.
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