Decree No. 29/2014/ND-CP dated April 10, 2014 of the Government on prescribing the competence and procedures for establishment of state ownership over property and for management and handling of property over which state ownership is established

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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:	29/2014/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:	10/04/2014	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Civil

SUMMARY

REWARDS FOR PEOPLE TURN IN DROPPED OR MISLAID PROPERTY

On April 10, 2014, the Government issued the Decree No. 29/2014/ND-CP on prescribing the competence and procedures for establishment of state ownership over property and for management and handling of property over which state ownership is established. The reward levels for organizations and individuals shall be calculated by method of partial regression.

In particular, For property valued at up to VND 10 million, the reward ratio is 30%; for property valued at between over VND 10 million and VND 100 million, the reward ratio is 15%; for property valued at between over VND 100 million and VND 1 billion, the reward ratio is 7%; for property valued at over VND 1 billion and VND 10 billion, the reward ratio is 1%; for property valued at over VND 10 billion, the reward ratio is 0.5%. And the property value used for reward deduction shall be determined after deducting the expenses.

Expenses for the establishment of state ownership over property and the management and use of property over which state ownership is established include transport and preservation expense; expenses for testing, survey and valuation of temporarily seized property; expense for compensation for damage due to objective causes (if any) up to the time competent state agencies issue decisions approving the handling plans. Property-receiving and -preserving agencies which are furnished by the State with storehouses, storing yards, means of transport and regular funds, shall not be paid with expenses for the transport and preservation of such property…

Organizations and individuals that have discovered and turned in dropped or mislaid property other than historical and cultural relics, national treasures, antiques, or property in the national defense or security field, which have a value greater than ten months’ state-prescribed minimum wage applicable at the time of turning in the property, are entitled to a value equal to ten months’ minimum wage and half of the value exceeding ten months’ minimum wage after deducting the preservation expenses.

This Decree takes effect on June 01, 2014.

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Effect status: Known

THE GOVERNMENT

No. 29/2014/ND-CP

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

Hanoi, April 10, 2014

DECREE

Prescribing the competence and procedures for establishment of state ownership over property and for management and handling of property over which state ownership is established[1]

Pursuant to the December 25, 2001 Law on Organization of the Government;

Pursuant to the June 14, 2005 Civil Code;

Pursuant to the December 21, 1999 Penal Code and the June 19, 2009 Law Amending and Supplementing a Number of Articles of the Penal Code;

Pursuant to the November 26, 2003 Criminal Procedure Code;

Pursuant to the June 29, 2001 Customs Law and the June 14, 2005 Law Amending and Supplementing a Number of Articles of the Customs Law;

Pursuant to the November 14, 2008 Law on Civil Judgment Enforcement;

Pursuant to the June 20, 2012 Law on Handling of Administrative Violations;

Pursuant to the June 3, 2008 Law on Management and Use of State Property;

At the proposal of the Minister of Finance,

The Government promulgates the Decree prescribing the competence and procedures for establishment of state ownership over property and for management and handling of property over which state establishment is established.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree prescribes the competence and procedures for establishment of state ownership over property and for management and handling of such property in accordance with law with regard to property of the following types:

1. Property confiscated under law.

2. Derelict property, dropped or mislaid property, buried or sunk property, estates without heirs, in-stock commodities left in customs supervision zones.

3. Property voluntarily transferred to the State by organizations or individuals.

4. Property delivered by foreign-invested enterprises to the Vietnamese State as committed.

Article 2. Subjects of application

1. State agencies and persons that have competence to decide on the establishment of state ownership over property.

2. Agencies, organizations and units that are assigned to manage and handle property over which state ownership is established.

3. Other organizations and individuals involved in the establishment of state ownership over property and the management and handling of such property.

Article 3. Property eligible for establishment of state ownership

1. Property confiscated under law means the property of an organization or individual which is confiscated due to the commission of a crime or an administrative violation by such organization or individual under a judgment or decision of a court or a decision of another competent authority, including:

a/ Confiscated material evidence and means of administrative violation;

b/ Exhibits of a criminal case, part or all of convicts’ property confiscated under the criminal and criminal procedure laws (below referred to as confiscated exhibits and convicts’ property for short).

2. Derelict property, dropped or mislaid property, buried or sunk property, estates without heirs, commodities lying in stock in customs supervision zones over which state ownership is established, including:

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LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency