1. New regulations applicable to property auction enterprises established before July 01, 2017
The Decree No. 62/2017/ND-CP providing detailed guidance on the implementation of the Law on Property Auction in 2016 is coming into force as from July 01, 2017.
Accordingly, auction enterprises established before July 01, 2017 should comply with the following regulations:
- An enterprise in need of conversion into type of auction enterprise prescribed in Article 23 of the Law on Property Auction shall, by hand or by post or by other appropriate form of submission, submit an application (comprising types of documents specified in Points a, b and c Clause 1 Article 25 of the Law on Property Auction) to the Provincial-level Department of Justice.
The auction enterprise that obtains a Certificate of Operation Registration from the Provincial-level Department of Justice shall inherit all legal rights and interests as well as obligations towards auctions operations of the auction enterprise established before July 01, 2017.
- If an enterprise remains its auction activities and carries out other business activities at the same time, it must establish a new auction enterprise under regulations in Article 25 the Law on Property Auction.
2. Customs procedures for retained imports
This is a noticeable content in the Decree No.169/2016/ND-CP (coming into force as from July 01, 2017) on handling of cargo retained by carriers at Vietnamese seaports. To be specific:
With regard to imported cargo which is retained because the consignee does not come to get the cargo or refuses to receive the cargo:
- The carrier may sell such cargo by auction provided that the carrier must go through customs procedures for importation in accordance with prevailing regulations.
- In addition to customs documents required for imported cargo under prevailing regulations, the carrier must submit the following documents to the competent customs agency:
+ The application form for customs procedures for import of retained cargo;
+ Evidences of the notification of retained cargo as prescribed in Article 7 of this Decree (original copies).
3. Guidance on requirements for running debt trading services
This guidance is the noticeable content in the Circular No. 53/2017/TT-BTC providing guidance on implementation of the Government’s Decree No. 69/2016/ND-CP regarding requirements for running debt trading services.
Accordingly, enterprises running debt trading services should comply with the following regulations:
- When starting debt trading activities, the enterprise’s internal management regulations in terms of personnel management and debt trading activities promulgated by its competent authority as defined in its charter must be available;
- The enterprise’s charter capital/ actual investment capital recorded in its balance sheet must be higher than or equal to the minimum capital levels prescribed in the Decree No. 69/2016/ND-CP in corresponding with each type of debt trading service;
- At the time when a person is appointed as manager of an enterprise running debt trading service, he/she must possess Bachelor’s Degree (or higher) in one of the following fields of study: Economics, Business Administration, Law or other specialty which he/she is appointed to take charge of;
Detailed requirements are available in the Circular No. 53/2017/TT-BTC coming into force as from July 03, 2017.
4. Registration for identification number for commercial Tra fish farming pond
This content is regulated in the Decree No. 55/2017/ND-CP on farming, processing and export of Tra fish (coming into force as from July 01, 2017)
The application for registration of identification number for commercial Tra fish farming pond under regulations in the Decree No. 55/2017/ND-CP is provided for as below:
- The application for new identification number includes:
+ The application form for issuance of identification number for farming pond (using Form No. 01 stated in Appendix II enclosed with this Decree);
+ The copy of the pond layout.
- The application for re-issuance of identification number includes:
+ The application form for re-issuance of identification number for farming pond (using Form No. 02 stated in Appendix II enclosed with this Decree);
+ The original of the Certificate of registration for identification number for commercial Tra fish farming bond;
+ The copy of the pond layout.
Certificates of registration for identification number for commercial Tra fish farming bonds which are issued under the Decree No. 36/2014/ND-CP still remain their validity.
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