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THE MINISTRY OF
JUSTICE - THE MINISTRY OF NATURAL RESOURCES AND ENVIRONMENT - THE STATE BANK
OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No.
16/2014/TTLT-BTP-BTNMT-NHNN
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Hanoi, June 6,
2014
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JOINT CIRCULAR
GUIDING
A NUMBER OF MATTERS ON DISPOSAL OF SECURITY ASSETS
Pursuant to the June 14, 2005 Civil Code;
Pursuant to the Government’s Decree No.
163/2006/ND-CP of December 29, 2006, on secured transactions;
Pursuant to the Government’s Decree No.
11/2012/ND-CP of February 22, 2012, amending and supplementing a number of
articles of the Government s Decree No. 163/2006/ ND-CP of December 29, 2006,
on secured transactions;
Pursuant to the Government’s Decree No.
53/2013/ND-CP of May 18, 2013, on the establishment, organization and operation
of Vietnam Asset Management Company;
Pursuant to the Government’s Decree No.
22/2013/ND-CP of March 13, 2013, defining the functions, tasks, powers and
organizational structure of the Ministry of Justice;
Pursuant to the Government’s Decree No.
21/2013/ND-CP of March 4, 2013, defining the functions, tasks, powers and
organizational structure of the Ministry of Natural Resources and Environment;
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The Minister of Justice, the Minister of Natural
Resources and Environment and the Governor of the State Bank of Vietnam
promulgate the Joint Circular guiding a number of matters on disposal of
security assets.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of
regulation
1. This Circular guides the custody and sale of
security assets, receipt of security assets as replacement for the performance
of obligations of securing parties, and procedures for transfer of asset
ownership or use rights after the disposal of security assets.
2. This Circular does not apply to the disposal of
security assets in civil judgment enforcement activities.
Article 2. Subjects of
application
1. Securing and secured parties to security
contracts.
2. Vietnam Asset Management Company established and
operating in accordance with Vietnam’s law.
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4. People’s Committees of communes, wards or
townships (below referred to as commune-level People’s Committees) where
security assets are taken into custody.
5. Organizations performing compensation tasks
under law in case the State recovers land and land-attached assets.
6. Notarization practice organizations,
organizations with the asset auction function, asset lienors, purchasers of
security assets, and debt payment obligors.
7. Other related organizations, households and
individuals.
Article 3. Responsibilities
of related organizations, households and individuals in disposal of security
assets
1. To adhere to the principles prescribed in
Article 58 of the Government’s Decree No. 163/2006/ND-CP of December 29,2006,
on secured transactions (below referred to as Decree No. 163/2006/ND-CP), and
Clause 15, Article 1 of the Government’s Decree No. 11/2012/ND-CP of February
22, 2012, amending and supplementing a number of articles of the Government’s
Decree No. 163/2006/ND-CP of December 29, 2006, on secured transactions, and
other relevant regulations.
2. To implement lawfully established agreements on
disposal of security assets, and other relevant regulations.
3. To refrain from obstructing or resisting the
lawful custody of security assets; concealing or dispersing security assets or
shirking the performance of secured obligations.
Chapter II
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Article 4. Disposal of
mortgaged assets being goods circulated in the production and business process
which are sold or replaced by the mortgagor without the mortgagee’s consent
while the mortgage contract has been registered as a secured transaction and
the mortgagor and mortgagee agree that the mortgagee’s consent is required for
the sale or replacement of mortgaged assets
1. In case the mortgagee exercises the right to
recover mortgaged assets:
a/ The mortgagee shall send directly or by post to
the transferee of asset ownership or use rights a written notice of the
recovery of assets, enclosed with one (1) original of the lawfully notarized
security contract or one (1) copy of the security contract certified by the
commune-level People’s Committee or issued by a notarization practice
organization from the original or one (1) copy of the secured transaction
registration certificate issued by the secured transaction registration agency;
The above notice must clearly state mortgaged
assets, time limit and place for handover and receipt of mortgaged assets, and
the entity eligible to receive mortgaged assets;
b/ If the transferee of asset ownership or use
rights hands over the assets as requested by the mortgagee, the parties shall
make an asset handover record with their signatures and seals (if any);
c/ Expenses related to the preservation of
mortgaged assets shall be included in expenses for disposal of security assets.
After receiving mortgaged assets, the mortgagee shall preserve them and shall,
if causing loss of or damage to mortgaged assets, pay compensation to the
mortgagor, except loss or damage occurring before the mortgagee recovers
mortgaged assets or due to force majeure events;
d/ If the transferee of asset ownership or use
rights fails to hand over the assets as requested by the mortgagee, the latter
may take the security assets into custody under Article 63 of Decree No.
163/2006/ND-CP or initiate a lawsuit in accordance with the civil procedure
law.
2. In case the mortgagee does not exercise the
right to recover mortgaged assets under Clause 1 of this Article:
a/ In case the mortgagor sells mortgaged assets,
the mortgagee may request the mortgagor to transfer the proceeds from the sale
or assets formed from such proceeds for payment of the value of the obligation
agreed in the mortgage contract. If the mortgagor has not received any payments
yet or has received only part of payments, the mortgagee may request the
purchaser to pay for the sale of mortgaged assets.
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In case the proceeds from the sale of mortgaged
assets or the value of assets formed from such proceeds are/is larger than the
value of the agreed obligation, the mortgagee shall return the difference to
the mortgagor;
b/ In case the mortgagor replaces mortgaged assets,
the mortgagee may take into custody and dispose of the replacing assets and the
amount paid for the value difference (if any) for payment for the mortgagor’s
obligation.
3. The mortgagee that cannot exercise the right to
recover mortgaged assets due to their loss, damage or devaluation may request
the mortgagor to repair or supplement such assets or replace them with other
assets of equivalent value or to supplement and replace with other security
measures or claim compensation in accordance with law, unless otherwise agreed
by the parties.
4. The transferee of asset ownership or use rights
may initiate a lawsuit to request the mortgagor to refund the amount or return
the assets received and pay compensation and arising expenses (if any) in
accordance with law.
Article 5. Request for
return of security assets under lien under bilateral contracts for disposal
1. In case mortgaged assets are under lien under
Article 416 of the 2005 Civil Code, the mortgagee may request the mortgagor to
perform the obligation toward the lienor or may him/her/itself perform the
obligation toward the lienor in order to receive the mortgaged assets. After
the mortgagee or mortgagor has fulfilled his/her/its obligation, the lienor
shall hand over the assets within the time limit and at the place requested by
the mortgagee or the mortgagor.
A written record must be made on the handover of
mortgaged assets, bearing the signatures and seals (if any) of the mortgagor
and lienor in case the mortgagor performs the obligation toward the lienor, or
bearing the signatures and seals (if any) of the mortgagee and lienor in case
the mortgagee performs the obligation toward the lienor, unless otherwise
agreed by the parties.
The mortgagee that performs the obligation toward
the lienor may request the mortgagor to refund the value of the performed
obligation and arising reasonable expenses (if any) or include such amounts in
the value of the mortgagor’s obligation upon disposal of mortgaged assets.
2. When requesting the lienor to hand over the
assets for disposal, the mortgagee shall produce the secured transaction
registration certificate granted by the secured transaction registration agency
or the mortgage contract to prove that such assets are currently used for
mortgage, unless otherwise provided by law.
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In case the lienor fails to hand over the assets or
pay compensation, the mortgagee or the mortgagor may initiate a lawsuit to
request the court to settle the case.
Article 6. Disposal of
mortgaged assets being land use rights and land-attached assets in case the
mortgage contract is registered before a competent state agency recovers land
or assets under law
1. During the formulation of a compensation,
support and resettlement plan under the land law, the organization performing
compensation tasks shall seek information on land use rights and land-attached
assets subject to recovery at the land use rights registration office.
On the basis of mortgage registration contents
provided by the land use rights registration office, the organization
performing compensation tasks shall notify in writing the mortgagee and
mortgagor of the compensation amount, and the time and place for payment of
such amount.
2. In case land use rights and land-attached assets
are used to secure the performance of an obligation while the mortgagor and
mortgagee agree that the mortgagee is eligible to receive the compensation
amount or arising benefits related to mortgaged assets in the validity duration
of the mortgage contract, the handover and receipt of the compensation amount
are as follows:
a/ Within five (5) working days after receiving a
notice from the organization performing compensation tasks, the mortgagee shall
submit to this organization the following documents:
- One (1) original of the lawfully notarized or
certified mortgage contract or one (1) copy of the mortgage contract certified
by the commune-level People’s Committee or issued from thơ original by a
notarization practice organization;
In case no agreement is made in the mortgage
contract, the mortgagee shall submit one (1) written agreement between the
mortgagor and mortgagee about the mortgagee’s eligibility to receive the
compensation amount;
- One (1) document clearly indicating the value of
the obligation secured by assets recovered at the time the State recovers land
use rights and land-attached assets.
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c/ The organization performing compensation tasks
shall pay the compensation amount to the mortgagee in accordance with the land
law and regulations on secured transactions.
If the compensation amount is larger than the value
of the payment obligation, the organization performing compensation tasks shall
pay the difference to the mortgagor; if the compensation amount is insufficient
for payment of the value of the mortgagor’s obligation, the mortgagor shall
refund the deficit to the mortgagee, unless the mortgagor is not concurrently the
party with secured obligation or unless otherwise agreed by the parties.
3. If the parties do not agree on the mortgagee’s
eligibility to receive the compensation amount and arising benefits related to
mortgaged assets in the validity duration of the mortgage contract, only after
obtaining the mortgagor’s written consent shall the organization performing
compensation tasks pay the compensation amount under Clause 2 of this Article
to the mortgagee. If the mortgagor gives no consent, the organization performing
compensation tasks shall transfer the compensation amount into its bank account
and pay this amount after a competent state agency issues a legally effective
judgment or decision on dispute settlement, unless otherwise agreed by the
parties.
4. In case land use rights and land-attached assets
are used to secure the performance of different obligations at different
secured parties, the organization performing compensation tasks shall, based on
information on mortgage registration contents provided by the land use rights
registration office, pay compensation amounts to these secured parties in the
order of payment priority corresponding to the values of secured obligations in
accordance with the 2005 Civil Code.
5. In case the mortgagor receives compensation in
resettlement houses or residential land, such houses or land may be used as
replacement for mortgaged assets recovered by the State, unless otherwise
agreed by the parties.
During the disposal of security assets, if the
value of resettlement houses or residential land is insufficient for payment of
the value of obligations, the mortgagor shall pay the deficit to the mortgagee
in case the mortgagor is concurrently the party with secured obligation, or the
party with secured obligation shall pay the deficit to the mortgagee in case
the mortgagor is not concurrently the party with secured obligation, unless
otherwise agreed by the parties.
In case the value of resettlement houses or
residential land is larger than the value of the mortgagor’s obligation, the
mortgagee shall pay the difference to the mortgagor.
Article 7. Disposal of
mortgaged assets being the right to claim debts
1. At least seven (7) working days before the time
of handling the right to claim debts, the mortgagee shall send to the debt payment
obligor a written notice of handling the right to claim debts and one (1) copy
of the notarized contract on mortgage of the right to claim debts, certified by
a notarization practice organization, or the original contract on mortgage of
the right to claim debts with the signatures and seals (if any) of the parties
or the certificate of registration of transactions secured by the right to
claim debts, granted by the secured transaction registration agency.
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a/ If the time for performing the debt payment
obligation under the contract with grounds for the mortgagor’s right to claim
debts to arise is before the time for handling the right to claim debts under
the mortgage contract, the debt payment obligor shall transfer the debt amount
into the debt payment obligor’s account opened at a bank designated by the
mortgagee;
The mortgagee may request the bank to block this
account and release it for handling only when the time for disposal of
mortgaged assets becomes due. From the time of depositing money into the
account, the debt payment obligor may not request the bank to release and conduct
any transactions for the deposited amount;
b/ If the time for performing the debt payment
obligation under the contract with grounds for the mortgagor’s right to claim
debts to arise is after the time for handling the right to claim debts under
the mortgage contract, the mortgagee may request the debt payment obligor to
pay the debt amount at the time the debt payment obligation becomes due;
The mortgagee may not request the mortgagor to make
payment when the debt payment obligation does not become due yet, unless
otherwise agreed upon.
3. In case of directly receiving money amounts or
assets from the debt payment obligor, the mortgagee shall make a written record
and have it signed by the mortgagor, mortgagee and debt payment obligor. This
written record must clearly state the handover and receipt of money amounts or
assets and determine the value of assets.
This record only needs the signatures of the
mortgagee and debt payment obligor if the mortgagor refuses to sign it. The
mortgagee shall send the written record to the mortgagor.
4. If the debt payment obligor fails to comply with
Clause 2 of this Article, the mortgagee may take the following measures:
a/ Taking the security assets into custody for
disposal according to the procedures specified in Article 63 of Decree No.
163/2006/ND-CP in case the debt is in kind;
b/ Requesting the obligor to pay the principal,
interest and late payment interest (if any) as agreed in the contract in
accordance with law, unless otherwise agreed upon;
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d/ Initiating a lawsuit to request the court to
settle disputes in accordance with law.
5. The disposal of mortgaged assets being the
rights to assets arising from contracts on purchase and sale of future houses
must comply with Clauses 1, 2 and 3 of this Article.
Article 8. Disposal of
security assets being future assets
1. Security assets which are subject to
registration of ownership or circulation rights shall be disposed of as
follows:
a/ In case the mortgagor fails to perform or
properly perform the obligation agreed in the mortgage contract, resulting in
the disposal of mortgaged assets being future commercial houses purchased by
organizations or individuals from real estate businesses, mortgaged assets
shall be disposed of as follows:
If the investor has not handed over houses to the
mortgagor, the mortgagee may receive the mortgaged assets as replacement for
the performance of the mortgagor’s obligation under Article 11 of this
Circular, or transfer the contract on purchase and sale of future houses to a
third party according to the procedures specified in the Government’s Decree
No. 71/2010/ND-CP of June 23, 2010, detailing and guiding the Housing Law
(below referred to as Decree No. 71/2010/ND-CP), and the Ministry of
Construction’s Circular No. 16/2010/TT-BXD of September 1, 2010, specifying and
guiding a number of provisions of the Government’s Decree No. 71/2010/ND-CP of
June 23, 2010, detailing and guiding the Housing Law (below referred to as
Circular No. 16/2010/TT-BXD). In case of receiving the mortgaged assets as
replacement for the performance of the mortgagor’s obligation, the mortgagee
shall comply with Clause 3, Article 132 of the 2010 Law on Credit Institutions;
If the investor has handed over houses to the
mortgagor but has not carried out procedures for grant of a certificate of
house ownership, a competent state agency shall grant such certificate to the
purchaser in case such houses are sold to pay for the secured obligation. The
procedures for grant of a certificate of house ownership must comply with
regulations on grant of certificates of land use rights and ownership of houses
and other land-attached assets;
b/ In case the mortgagor fails to perform or
properly perform the obligation agreed in the mortgage contract, resulting in
the disposal of mortgaged assets being future social houses, mortgaged assets
shall be disposed as follows:
If the investor has not handed over houses to the
mortgagor, the mortgagee shall coordinate with the investor in terminating the
house purchase and sale contract with the mortgagor for re-sale of such houses
to entities eligible to purchase social houses in accordance with the housing
law;
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House purchase and sale procedures must comply with
Decree No. 71/2010/ND-CP and Circular No. 16/2010/TT-BXD;
c/ In case the securing party fails to perform or
properly perform the obligation agreed in the security contract, resulting in
the disposal of security assets which are not specified at Points a and b,
Clause 1 of this Article, security assets shall be disposed of as follows:
If the securing party is the purchaser to the asset
purchase and sale contract, the secured party may dispose of the assets as
agreed in the contract and under regulations of secured transactions. The
secured party (in case of receiving the security assets as replacement for the
performance of the securing party’s obligation) or the purchaser of security
assets may request the seller of security assets to hand over the assets under
the asset purchase and sale contract when such assets have been formed;
The seller of security assets shall hand over the
assets as requested by the secured party or the purchaser of security assets.
Upon requesting the seller of security assets to hand over the assets, the
secured party or the purchaser of security assets shall produce the security
contract to prove that such assets have been used to secure the performance of
civil obligations. A written record shall be made on the handover of security
assets, bearing the signatures and seals (if any) of the secured party or
purchaser of security assets and the seller of security assets.
In case the seller of security assets fails to hand
over the formed assets to the secured party or the purchaser of security assets,
the latter may take the formed assets into custody under Article 63 of Decree
No. 163/2006/ND-CP or initiate a lawsuit to request the court to settle the
case in accordance with law.
The securing party that is the asset manufacturing
party shall transfer the formed assets and relevant legal dossiers to the
secured party or the purchaser of security assets. A written record must be
made for such transfer, bearing the signatures and seals (if any) of the
secured party or purchaser of security assets and the securing party.
d/ The registration of asset ownership and
circulation rights after the assets are formed must comply with law and the
security contract without requiring a written authorization of the securing
party.
2. In case the securing party fails to perform or
properly perform the obligation agreed in the security contract, resulting in
the disposal of future security assets which are not subject to registration of
asset ownership, use rights or circulation rights, security assets shall be
handled as follows:
a/ The secured party (in case of receiving the
security assets as replacement for the performance of the securing party’s
obligation) or the purchaser of security assets may own security assets at the
time of disposal of such assets, unless otherwise agreed by the parties. The
security contract and written record on the disposal of security assets (if
any) are used to prove that the secured party may exercise the rights and
conduct the transactions related to the assets.
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1. At least seven (7) working days before taking
security assets into custody, security asset disposers may send a written notice
of the custody of security assets to commune-level People’s Committees of
localities where security assets are taken into custody.
This notice shall be sent directly or by post,
enclosed with one (1) copy of the security contract or written agreement on the
disposal of security assets concluded lawfully by the parties. The notice must
clearly state the reason, time and place for disposal of security assets, the
asset custody plan and assets to be taken into custody.
2. After receiving such notice from security asset
disposers, commune-level People’s Committees shall promptly take the measures
specified in Clause 5, Article 63 of Decree No. 163/2006/ND-CP and Article 30
of the Government’s Decree No. 53/2013/ND-CP of May 18, 2013, on the
establishment, organization and operation of Vietnam Asset Management Company.
Article 10. Sale of
security assets not through auction
1. In case the securing party and secured party
agree on the sale of security assets not through auction and have no other
agreements on the determination of sale prices of the assets, the sale prices
of security assets shall be determined as follows:
a/ The secured party and securing party shall reach
written agreement on the sale prices of security assets. If they fail to reach
any agreement, within fifteen (15) days from the date of such failure, the
securing party may designate a price appraisal agency or organization to
determine the sale prices of assets. Past this 15-day time limit, if the
securing party fails to designate a price appraisal agency or organization, the
secured party may designate a price appraisal agency or organization to
determine the sale prices of assets. Expenses for hiring price appraisal
agencies or organizations shall be included in expenses for disposal of
security assets;
b/ In case security assets cannot be sold at the
prices determined by the price appraisal agency or organization, within fifteen
(15) days from the date of failure to sell the assets, the secured party may
reduce the sale prices of assets. Such reduction may be made three (3) times,
with each reduction not exceeding ten percent (10%) of the determined prices
and the interval between two reductions being at least thirty (30) days, for
immovable assets, or at least fifteen (15) days, for movable assets. The
secured party shall notify the securing party of the reduction of the sale
prices of security assets;
If security assets cannot be sold even after three
(3) reductions of their sale prices, the secured party may receive the security
assets as replacement for obligation performance under Article 11 of this
Circular. In this case, the value of security assets is the price of the final
reduction, unless otherwise agreed upon by the parties.
2. The sale of security assets must comply with the
2005 Civil Code and other relevant legal documents. The secured party shall pay
compensation for its violations of law causing damage to asset owners and
persons with rights and benefits related to security assets during the sale of
security assets.
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In case the secured party and securing party agree
on the disposal of security assets by receiving the security assets as
replacement for performance of the securing party’s obligation:
1. The valuation of security assets must comply
with Point a, Clause 1, Article 10 of this Circular.
2. In case security assets are subject to
registration of ownership or use rights under law, after the disposal thereof,
the secured party shall submit the dossier for transfer of ownership or use
rights under Clause 1 or 2, Article 12 of this Circular. The security contract
or another written agreement on the receipt of the security assets as
replacement for performance of the securing party’s obligation shall be used as
replacement for the contract and documents on transfer of ownership or use
rights of security assets.
3. In case security assets are not subject to
registration of ownership or use rights under law, after the disposal thereof,
the secured party may own such assets under Clause 3, Article 12 of this
Circular.
4. The value of security assets shall be cleared
against the loan and interest arising from the credit contract and other
reasonable expenses in accordance with law. The securing party may receive the
remainder after having made full payment to the secured party.
In case the value of security assets is
insufficient for payment of the value of obligations, the securing party shall
refund the deficit to the secured party if the securing party is concurrently
the party with secured obligation, or the party with secured obligation shall
refund the deficit to the secured party if the securing party is not
concurrently the party with secured obligation, unless otherwise agreed by the
parties.
5. In case the secured party receives the security
assets which are ineligible for establishment of ownership or use rights under
law, the securing party and secured party may agree to select another method of
disposing of security assets prescribed in Article 59 of Decree No.
163/2006/ND-CP. The contents of agreement between the parties may be recorded
in a separate document or stated in the security contract.
Article 12. Procedures for
transfer of asset ownership or use rights after disposal of security assets
1. The dossiers and procedures for transfer of
ownership or use rights of security assets being land use rights and
land-attached assets after disposal must comply with the land law.
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In case the securing party fails to voluntarily
sign the contract and documents proving the transfer of asset ownership and use
rights, the secured party may sign them but shall add in the dossier for
transfer of asset ownership and use rights one (1) original of the lawfully
notarized or certified security contract or one (1) copy of the security
contract certified by the commune-level People’s Committee or issued from the
original by a notarization practice organization, or another document proving
the agreement that the secured party may sign contracts and documents on
transfer of ownership and use rights of security assets.
3. In case assets are not subject to registration
of ownership and use rights under law, the purchaser and recipient of the
security assets may own the assets under Clause 1, Article 439 of the 2005
Civil Code. The lawful security contract and the written record on the disposal
of security assets (if any) are documents proving the establishment of the
secured party’s ownership over assets.
4. In case of disposal of future assets, if, at the
time of disposal, such assets have been formed and are subject to registration
of ownership and use rights, the purchaser of security assets shall submit a
dossier for transfer of asset ownership and use rights under Clauses 1 and 2 of
this Article and other relevant regulations.
5. The transfer of land use rights and ownership of
assets shall be conducted concurrently with the deregistration of secured
transactions as follows:
a/ If obtaining written consent of the secured
party, the securing party may request notarization or certification of
contracts and transactions on transfer of ownership and use rights of assets
prior to deregistration of secured transactions for such assets;
b/ A dossier for adjustment of changes in land
users and owners of security assets shall be submitted concurrently with a
dossier for deregistration of security transactions for a competent
registration agency to adjust the changes concurrently with the deregistration
of secured transactions according to law-prescribed procedures.
6. In case mortgaged assets after investment see
changes compared to their descriptions in the mortgage contract and are subject
to registration of ownership and use rights under law, the mortgagor shall
carry out law-prescribed procedures for certification of the changes in
mortgaged assets or for registration of changes at a competent state agency.
Ten (10) days after such changes occur, if the mortgagor fails to carry out
procedures for certification of the changes in the assets or for registration
of the changes at a competent state agency, the mortgagee may still dispose of
the mortgaged assets and carry out procedures for certification of changes or
registration of changes concurrently with procedures for registration of the
transfer of ownership and use rights after the disposal of mortgaged assets.
7. When carrying out procedures for re-grant or
renewal of circulation registration certificates for vehicles or transfer of
ownership of road and inland waterway motor vehicles which are currently used
for mortgage, the agency with vehicle circulation registration competence shall
exchange and provide information under Joint Circular No.
15/2013/TTLT-BTP-BGTVT-BTNMT-BCA of November 5,2013, of the Ministry of Justice,
the Ministry of Transport, the Ministry of Natural Resources and Environment
and the Ministry of Public Security, guiding the exchange and provision of
information on security assets between secured transaction registration
agencies and notarization practice organizations, civil judgment enforcement
agencies and agencies registering ownership, use rights and circulation rights
of assets.
Chapter III
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Article 13. Effect
This Circular takes effect on July 22, 2014.
Article 14. Implementation
responsibility
1. The Ministry of Justice, the Ministry of Natural
Resources and Environment and the State Bank of Vietnam shall organize the
implementation of this Circular.
2. Chairpersons of provincial-level People’s
Committees shall direct lower-level People’s Committees, public security
agencies and other related agencies and organizations under their management in
actively coordinating with and assisting secured parties in the custody and
disposal of security assets and strictly implementing this Circular.
3. The Ministry of Justice shall monitor, summarize
and examine the implementation of this Circular. Any problems arising in the
course of implementation should be promptly reported to the Ministry of
Justice, the Ministry of Natural Resources and Environment and the State Bank
of Vietnam for coordinated study and settlement.-
FOR THE
MINISTER OF JUSTICE
DEPUTY MINISTER
Dinh Trung Tung
FOR THE
MINISTER OF NATURAL RESOURCES AND ENVIRONMENT
DEPUTY MINISTER
Nguyen Manh Hien
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