The 52nd session of the National Assembly Standing Committee: Ensuring the proper functions and tasks of agencies, in accordance with legal provisions

The social insurance agency has the right to file a request to apply for bankruptcy proceedings.

The report on explanation, acceptance and revision of the draft Bankruptcy Law (amended) presented by Chairman of the Economic and Financial Committee Phan Van Mai clearly stated that, regarding the name of the Law, through synthesizing the opinions of National Assembly Deputies, this content has two types of opinions.

The first type of opinion agrees with changing the name of the Law to "Law on Rehabilitation and Bankruptcy" as proposed by the submitting agency.

National Assembly Chairman Tran Thanh Man speaks at the meeting

The second type of opinion proposes to keep the name of the current Law as "Bankruptcy Law".

The Standing Committee agrees with the first opinion. Accordingly, the rehabilitation procedure is an independent procedure that is given priority before the bankruptcy procedure to promptly support and help enterprises and cooperatives escape from difficult situations, at risk of insolvency and continue to contribute to the economy.

In addition, in Conclusion Notice No. 3384/TB-VPQH dated September 16, 2025 of the Office of the National Assembly , the Standing Committee of the National Assembly also agreed with the proposal of the submitting agency on the name of the Law as the Law on Rehabilitation and Bankruptcy.

Vice Chairman of the National Assembly Vu Hong Thanh chaired the meeting.

Regarding the responsibilities of the Tax Administration and Social Insurance Agency (Article 38), the Standing Committee agrees with the proposed amendments and supplements as in the draft Law to ensure feasibility and consistency with the Law on Tax Administration and the Law on Social Insurance. At the same time, ensure the correct functions and tasks of the Tax Administration and Social Insurance Agency.

Accordingly, the draft Law has been revised and incorporated in the direction that social insurance agencies have the right to submit applications for bankruptcy procedures to ensure compliance and consistency with the provisions of the law on social insurance, unemployment insurance, and health insurance.

For tax authorities, it is necessary to submit a request to apply bankruptcy procedures according to the provisions of the Law on Tax Administration and Government regulations.

Regarding transactions with net payment agreements, the Standing Committee of the Committee said that transactions with net payment agreements are a new concept in Vietnam and have not been regulated in a specialized legal document.

Therefore, the draft Law is stipulating the exclusion of transactions with net payment agreements in the direction of stipulating the general principle "except where otherwise provided by law" in a number of articles of the draft Law to ensure that when the issue of net payment is proposed, evaluated, thoroughly researched and officially regulated in specialized legal documents, it will be applied in bankruptcy proceedings without being inconsistent with the provisions of the Bankruptcy Law.

Therefore, the Standing Committee does not have sufficient basis to specify this content in the draft Law.

Prioritize business recovery

Speaking at the discussion session, National Assembly Chairman Tran Thanh Man said that this is a difficult draft law but many contents have been accepted.

Regarding the source of payment for bankruptcy costs in Article 20, the National Assembly Chairman said that the competent authority has given its opinion and agreed to propose that in cases where there is no more money or assets to pay or there are assets but they cannot be sold to cover bankruptcy costs, the bankruptcy costs will be temporarily paid and the bankruptcy costs will be covered by the state budget. Therefore, it is necessary to review the specific provisions in the draft Law to promptly remove difficulties and obstacles in practice.

The National Assembly Chairman stated that the draft Law has one objective: to prioritize business recovery; amend the concept and conditions of bankruptcy; apply electronic litigation and simplified procedures; regulate court jurisdiction, coordinate with international organizations and the issue of advance payment of post-bankruptcy liability costs. Therefore, it is necessary to thoroughly absorb it.

Regarding the responsibilities of the Tax Administration and Social Insurance Agencies, the National Assembly Chairman suggested that it is necessary to review and ensure the proper functions and tasks of the agencies, in accordance with the provisions of the law on tax administration, social insurance, unemployment insurance and health insurance.

Concluding the session, Vice Chairman of the National Assembly Vu Hong Thanh requested the Supreme People's Court to continue to enhance its sense of responsibility and actively coordinate with the Standing Committee of the Economic and Financial Committee to complete the draft Law dossier, ensuring the best quality when submitted to the National Assembly. At the same time, pay attention to studying the regulations on enforcement, transition, cases of law application, financial supervision mechanism, etc.

The Standing Committee of the Economic and Financial Committee urgently completes the Report on explanation, acceptance and revision of the draft Law before submitting it to the National Assembly for consideration and approval.

Source: https://daibieunhandan.vn/phien-hop-thu-52-cua-uy-ban-thuong-vu-quoc-hoi-bao-dam-dung-chuc-nang-nhiem-vu-cua-cac-co-quan-phu-hop-voi-quy-dnh-cua-phap-luat-10397941.html

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