Explaining after the discussion session of the draft Law amending and supplementing a number of articles of the Law on Property Auction on November 28, Minister of Justice Le Thanh Long said that according to the Government's summary and assessment, in the past 5 years there have been about 200,000 auctions, over 90% of which were public assets, mainly land use rights. The difference between the starting price and the cost price collected for the State, collected for organizations, and collected for individuals is 110,000 billion VND.
To prevent and limit collusion, price gouging, or the situation of "blue team" and "red team", Mr. Long said that the procedures are being carried out in a public and transparent manner, with deadlines extended if necessary. At the same time, stricter regulations on documents, approvals, etc.
Mr. Long said that the Law on Property Auction cannot regulate all processes related to a property, including the conditions set for auction until the successful auction is handled according to which regulations, especially in the case of determining the starting price, which must also comply with specialized laws.
Regarding sanctions for those who abandon their deposits, the Minister of Justice said that he will study them in a "deeper" direction and will contribute comments on what can be added and tightened in specialized legal regulations for completion.
At the same time, also take into account financial violations with additional provisions prohibiting participation in auctions, or tightening the conditions in the provisions of specialized laws.
“Recently, there was the Thu Thiem case, the sand case in An Giang and Hanoi , or the motorbike batch that was fined for administrative violations in Ha Tinh. The drafting committee would like to continue researching, especially to see if any sanctions can be added. In our opinion, the stricter the law, the better,” the Minister of Justice added.
Minister of Justice Le Thanh Long.
However, to ensure that legal regulations are implemented honestly, according to the Minister, in reality there are many related factors. These include strict legal regulations, business ethics, professional ethics, etc. Only then can we ensure that legal regulations are implemented in practice.
Along with that, Mr. Long also said that he is trying to improve the professionalism of professional organizations and auctioneers. In general, when reviewing and considering laws related to the activities of the judicial professions, lawyers, notaries, appraisers, etc., he will try to form a unified block.
Previously, participating in the discussion at the hall this morning, delegate Nguyen Duy Thanh ( Ca Mau delegation) affirmed that there should be regulations to limit the situation of abandoned auction deposits.
According to Mr. Thanh, the current law stipulates a deposit of 5 - 20% of the starting price (after winning the auction, it will be converted into a deposit), while in many cases the starting price is low so the auction winner does not have to consider too much when making a deposit.
To limit the story of auction winners abandoning their deposits, especially the factor of group interests and auction manipulation, the delegate of Ca Mau province said that it is necessary to separate the deposit and the deposit.
The deposit can be 20 - 30% of the winning bid price, and must be paid immediately after the auction result is announced. If the winning bidder does not pay, the result will be canceled and the auction will continue.
"Assuming the deposit that must be paid immediately is up to hundreds of billions or thousands of billions of dong instead of just a few hundred million or a few billion dong, the auction winner will certainly be very cautious when bidding," Mr. Thanh suggested.
The delegate also emphasized the possibility of referring to international experience and adding specific regulations in the direction of criminal handling of acts of abandoning auction deposits and showing signs of manipulation, disturbing order, and negatively affecting economic security.
"The Penal Code needs to supplement corresponding acts in property auction activities appropriately, avoiding price inflation and price dumping, causing serious consequences like in the recent past," said Mr. Thanh .
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