1. Self-infliction of damage to claim insurance faces up to VDN 100 million in fines
Decree No.48/2018/ND-CP which amends Decree No.98/2013/ND-CP on penalties for administrative violations with regard to insurance and lottery business, officially comes into force on May 05, 2018.
According to the Decree, a fine of from VND 90 to 100 million will be imposed on one of following frauds in insurance business:
- Self-infliction of damage to property or health to claim insurance, unless otherwise prescribed;
- Collusion with beneficiary in illegally claiming insurance;
- Use of counterfeit documents or intentional falsification of information for the purpose of:
+ claiming insurance;
+ rejecting insurance claims in insured events
The abovementioned acts will be fined if the amount illegally obtained is under VDN 20 million or the damage caused is under VND 50 million or seriousness of the violations is not liable to criminal prosecution.
2. Accounting document erase faces fines of up to VND 05 million
This content is regulated in Decree No.41/2018/ND-CP on penalties for administrative violations in independent audit and accounting which comes into force from May 01, 2018.
According to the Decree, an individual will get fined from VND 03 to 05 million if he/she:
- deletes or amends information in accounting documents (previously up to VND 01 million);
- issues accounting documents that do not have adequate mandatory information as required;
- signs accounting documents using red ink or washable ink or signature stamps;
- fails to sign all copies of accounting documents
3. New regulations on conditions for registration of multi-level marketing business
Decree No.40/2018/ND-CP on management of multi-level marketing business comes into force from May 02, 2018.
According to the Decree, organizations registering multi-level marketing business must satisfy conditions prescribed in Clause 1 in Article 7 of this Decree.
For instance, such organization must:
- be an enterprise founded in Vietnam as regulated and has never had its certificate of registration of multi-level marketing business revoked;
- Have at least VND 10 billion in charter capital;
- have the model contract for participation in multi-level marketing business operation regulations, reward plans, transparent fundamental training programs conforming to the regulations;
- Have an IT system to manage the participants, a website providing information on the enterprise and its multi-level marketing activities;
- Have a communications system to receive and answer questions as well as handle complaints of the participants
4. 06 cases in which a person is not allowed to participate in the property valuation process in criminal procedure
This remarkable content is regulated in Decree No.30/2018/ND-CP on foundation and operation of the council for property valuation; orders and procedures for property valuation in criminal procedure which comes into force from May 01, 2018.
According to the Decree, a person is not allowed to participate in property valuation process of a case if he/she:
- is the defendant, litigant; representative or relative of the defendant, litigant or suspect or defendant;
- participated in the process of valuation or revaluation of the property being valuated;
- participated as a defense counsel, witness, expert witness, interpreter or translator in such case;
- started the proceeding in such case;
- is proved unfair in the valuation process based on clear evidences;
- is given a warning or a heavier penalty
5. Decree No.25/2018/ND-CP on amendments to Decree No.60/2014/ND-CP on printing activities comes into force from May 01, 2015.
6. Decree No.32/2018/ND-CP on amendments to Decree No.91/2015/ND-CP on state capital of the enterprise and management, utilization of capital and assets of the enterprise comes into force from May 01, 2018.
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