On the morning of October 19, during the second session of the 16th National Assembly, lawmakers heard proposals on the draft revised Law on Asset Auction, the draft revised Law on Lawyers and the draft revised Law on Adoption, together with appraisal reports on the bills. They then discussed the documents in groups.
The draft revised Law on Asset Auction aims to institutionalise the policy of decentralisation and delegation of authority, cut and simplify administrative procedures, expand the use of information technology and digital transformation in asset auction activities, develop auction services under a socialist-oriented market mechanism, and prevent and combat corruption, wastefulness and other negative practices.
The draft also retains provisions of the current law that have proven effective and addresses shortcomings identified in a review of its implementation. It also seeks to improve the effectiveness of state management of asset auctions and meet new requirements.
Under the draft, a person with a university degree or higher in any discipline could become an auctioneer. The current law limits eligibility to graduates in certain fields, including law, economics, finance, banking and business administration. The proposed change is in line with the policy of encouraging voluntary auctions of assets owned by organisations and individuals, as well as international practice in the profession.
The draft introduces stricter and more practical auction procedures. Public notices at commune-level People's Committees would be required only for real estate auctions. Participants who submit valid applications and deposits and attend an auction would be deemed to have agreed to purchase the asset at its starting price. The provision is intended to curb the activities of auction touts and people who participate without a genuine intention to buy in order to seek illicit gains.
The draft also revises the sequence of auction proceedings to make them more rigorous, objective and transparent. It introduces streamlined procedures for certain assets with low starting prices or assets requiring urgent disposal. It would also allow auction results to be cancelled in certain cases to ensure consistency with other laws.
Other amendments cover prohibited acts, the rights and obligations of auctioneers and asset auction service providers, as well as other specific provisions.
In the afternoon, lawmakers are scheduled to discuss in groups the draft revised Penal Code, a draft National Assembly resolution on implementing the revised Penal Code, and the draft revised Law on the Organisation of Criminal Investigation Agencies.
Sources: VietnamPlus / Vietnam News Agency
