Decree No. 12/2021/ND-CP amending the Decree No. 89/2013/ND-CP

DECREE

Amending and supplementing a number of articles of the Government’s Decree No. 89/2013/ND-CP of August 6, 2013, detailing a number of articles of the Law on Price regarding valuation^[1]

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and Law on Organization of Local Administration;

Pursuant to the June 20, 2012 Law on Price;

Pursuant to the November 26, 2014 Law on Investment;

At the proposal of the Minister of Finance,

The Government promulgates the Decree amending and supplementing a number of articles of the Government’s Decree No. 89/2013/ND-CP of August 6, 2013, detailing a number of articles of the Law on Price regarding valuation.

Article 1. To amend and supplement a number of articles of the Government’s Decree No. 89/2013/ND-CP of August 6, 2013, detailing a number of articles of the Law on Price regarding valuation.

1. To add Article 7a below Article 7 of Decree No. 89/2013/ND-CP as follows:

“Article 7a. Obligations of practicing valuers to sign valuation result reports and valuation certificates

1. A practicing valuer who is not the at-law representative of an enterprise shall sign at least 10 sets of valuation brief report and valuation result report in the year of notified practice.

2. By the end of December 15 of the year of practice, a valuer who has practiced for at least 6 months in such year and fails to sign 10 sets of valuation brief report and valuation result report may not register his/her practice in the next year.”

2. To add Article 8a below Article 8 of Decree No. 89/2013/ND-CP as follows:

 “Article 8a. Requirements for the at-law representative, director or director general of a valuation enterprise

1. Being a valuer and having registered his/her practice in the enterprise under Point c, Clause 1, or Point c, Clause 2, or Point c, Clause 3, or Point c, Clause 4, or Point c Clause 5, Article 39 of the Law on Price.

2. Having worked as a practicing valuer for at least 3 years (36 months) before becoming the at-law representative, director or general director of the valuation enterprise.

3. Within 1 year (12 months) prior to submitting a dossier for grant or re-grant of the certificate of eligibility for provision of valuation services, not being the at-law representative, director or general director of a valuation enterprise that has its certificate of eligibility for provision of valuation services revoked.”

3. To amend and supplement Clause 7, Article 10 of Decree No. 89/2013/ND-CP as follows:

“7. Valuation enterprises currently subject to termination or suspension of valuation activities. A valuation enterprise that fails to satisfy one of the conditions for a relevant enterprise specified in Clause 1, 2, 3, 4 or 5, Article 39 of the Law on Price but does not have its valuation activities terminated may not enter into valuation services contracts.”

4. To amend and supplement Clause 1, Article 11 of Decree No. 89/2013/ND-CP as follows:

“1. The valuation service charge is agreed upon between the valuation enterprise and the client under Clauses 2 and 3 of this Article on the principle of covering reasonable actual production or business costs and ensuring profits conformable to average market prices, and stated in the valuation contract. In case the selection of valuation consultancy contractors falls within the scope of the Law on Bidding, the bidding law shall apply.”

5. To add Article 12a below Article 12 of Decree No. 89/2013/ND-CP as follows:

“Article 12a. Resolution of disputes between valuation enterprises and clients over valuation results

When a dispute between a valuation enterprise and a client arises over valuation results, it shall be resolved in one of the following forms:

1. Negotiation and mediation on the basis of commitments stated in the valuation contract.

2. Resolution by commercial arbitration.

3. Initiation of a lawsuit at court in accordance law.”

6. To add Article 12b below Article 12 of Decree No. 89/2013/ND-CP as follows:

“Article 12b. Connection of the national database on price

1. The Ministry of Finance shall build, manage and operate the national database on price and create favorable conditions for valuation enterprises to connect their databases with the national database on price.

2. Valuation enterprises shall connect their databases with the national database on price.”

7. To amend and supplement Points a, dd and e, Clause 1, and Points a and c, Clause 2, Article 14 of Decree No. 89/2013/ND-CP as follows:

“1.

a/ An application for grant or re-grant of a certificate of eligibility for provision of valuation services, made according to the form provided by the Ministry of Finance;

dd/ List of contributions by members as certified by the enterprise, in case there is no information about capital-contributing members and list of shareholders in the enterprise registration certificate;

e/ Receipt for the valuation charge paid for grant of a certificate of eligibility for provision of valuation services;”

“2.

a/ An application for grant or re-grant of a certificate of eligibility for provision of valuation services, made according to the form provided by the Ministry of Finance;

c/ Receipt for the valuation charge paid for grant of a certificate of eligibility for provision of valuation services;”

8. To amend and supplement Article 15 of Decree No. 89/2013/ND-CP as follows:

“Article 15. Time limit for grant and re-grant of certificates of eligibility for provision of valuation services

1. Within 15 (fifteen) working days after receiving  1 (one) complete dossier made by the enterprise under Clauses 1 and 2, Article 14 of this Decree, the Ministry of Finance shall grant or re-grant a certificate of eligibility for provision of valuation services to the valuation enterprise.

2. In case of refusal to grant or re-grant of a certificate of eligibility for provision of valuation services, within 5 (five) working days after receiving the dossier, the Ministry of Finance shall issue a written reply clearly stating the reason for refusal to the enterprise registering provision of valuation services.”

9. To amend and supplement Point dd of, and add Point g to, Clause 1, Article 17 of Decree No. 89/2013/ND-CP as follows:

 “dd/ Dissolution, bankruptcy or business suspension in accordance with the law on enterprises and law on bankruptcy; termination of provision of valuation services; changes in shareholders or capital-contributing members who are valuers practicing in the enterprise;

g/ A valuer practicing in the enterprise banned from practicing price valuation under a legally effective court judgment or ruling; examined for penal liability; sentenced for one of offenses of infringing upon economy or position-related offenses relating to finance, price or valuation; subject to the administrative measure of commune-, ward- or township-based education, or confinement to compulsory rehabilitation centers or compulsory education institutions; sentenced for one of offenses of infringing upon economy at the serious or higher level; or administratively sanctioned for a violation of the law on finance.”

10. To add Clause 3 to Article 27 of Decree No. 89/2013/ND-CP as follows:

“3. An agency competent to value asset or agency assuming the prime responsibility for forming a valuation council shall send a copy of the valuation result report or asset valuation conclusion via the official dispatch channel, by facsimile or via an electronic reporting system to the Ministry of Finance for developing a database to serve provision of information and state management of valuation, except for assets on the list of assets involved in state secrets.”

Article 2. Transitional provisions

1. Valuation enterprises that submit dossiers for grant of certificates of eligibility for provision of valuation services before the effective date of this Decree may be granted certificates of eligibility for provision of valuation services under the Government’s Decree No. 89/2013/ND-CP of August 6, 2013.

2. By the end of December 31, 2021, valuation enterprises granted certificates of eligibility for provision of valuation services under the Government’s Decree. No 89/2013/ND-CP of August 6, 2013, shall satisfy the  conditions for at-law representatives, directors and directors general specified in Article 1 of this Decree.

Article 3. Implementation provisions

1. This Decree takes effect on May 1, 2021.

2. Ministers, heads of ministerial-level agencies, heads of government-attached agencies and chairpersons of provincial-level People’s Committees shall implement this Decree.-

On behalf of the Government
Prime Minister
NGUYEN XUAN PHUC