VietnameseDecree No. 17/2010/ND-CP dated March 04, 2010 of the Government on property auction
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Decree No. 17/2010/ND-CP dated March 04, 2010 of the Government on property auction
| Issuing body: | Government | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 17/2010/ND-CP | Signer: | Nguyen Tan Dung |
| Type: | Decree | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 04/03/2010 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Administrative violation , Civil , Land - Housing |
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Effect status: Known
THE GOVERNMENT | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom - Happiness |
No.: 17/2010/ND-CP | Hanoi, March 04, 2010 |
DECREE
ON PROPERTY AUCTION
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the June 14, 2005 Civil Code;
Pursuant to the November 26, 2003 Land Law;
Pursuant to the June 3, 2008 Law on Management and Use of State Property;
Pursuant to the November 14, 2008 Law on Enforcement of Civil Judgments;
Pursuant to the July 2, 2002 Ordinance on Handling of Administrative Violations; and the April 2, 2008 Ordinance Amending and Supplementing the 2002 Ordinance on Handling of Administrative Violations;
At the proposal of the Minister of Justice, DECREES:
Chapter 1 GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Decree provides for property auction principles, order and procedures, auctioneers, property auction organizations, and state management of property auction activities.
2.This Decree applies to the auction of the following kinds of property:
a/ Property for judgment enforcement under the law on judgment enforcement;
b/ Property being material evidences or means used in administrative violations which are confiscated into state funds under the law on handling of administrative violations;
c/ Security property subject to auction under the law on security transactions;
d/ State property subject to auction under the law on management and use of state property; property being land use rights in case the State allocates land and collects land use levy or leases land through auction under decisions of competent state agencies;
e/ Other property subject to auction under law.
3. Individuals and organizations that select professional auction organizations defined in Article 14 of this Decree for selling their own property shall comply with property auction principles, order and procedures provided in this Decree.
4. The sale of state property overseas or of special property in people's armed forces units is not regulated by this Decree but must comply with relevant laws applicable to such property.
Article 2. Interpretation of terms
In this Decree, the terms below are construed as follows:
1. Property auction means a form of public sale of property in which increasing bids are offered by two or more bidders according to the principles, order and procedures provided in this Decree. Offer of increasing bids means the offer of bids from lower to higher levels until the highest bidder is identified.
2. Auctioneer means a person possessing an auction practice certificate under this Decree.
3. Successful buyer of property at auction means the person who offers the highest bid compared to the reserve price. If nobody offers a bid higher than the reserve price, property may be sold at the reserve price.
4. Property put up for auction may include movables, real estate, valuable papers and property rights permitted for trading under law.
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