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THE
GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom Happiness
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No.
08/2000/ND-CP
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Hanoi,
March 10, 2000
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DECREE
ON REGISTRATION OF SECURITY TRANSACTIONS
THE GOVERNMENT
Pursuant to the Law on Organization
of the Government of September 30, 1992;
Pursuant to the Civil Code of October 28, 1995;
At the proposal of the Minister of Justice,
DECREES:
Chapter I
GENERAL PROVISIONS
Article 1.-
Scope of application
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Article 2.-
Objects of registration
1. The following cases must be
registered with the security transaction registries:
a/ The pledge or mortgage of
assets, over which the ownership right must be registered as prescribed by law;
b/ The pledge or mortgage of
assets other than those stipulated at Point a, Clause 1 of this Article, but
such assets are held by the pledgor, the mortgagor or the third person as
agreed upon by the concerned parties;
c/ The pledge or mortgage of one
asset to ensure the performance of more than one obligation;
d/ The written notice on the
handling of the security assets.
2. When requested, the guaranty
with assets may also be registered.
3. Other cases as prescribed by
law.
Article 3.-
Principles for registration of security transactions
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The contents declared in the
application for registration must be accurate, adequate and truthful. The
registration applicant shall take responsibility for the registration contents.
In case of necessity, the
registry may ask the registration applicant to supply papers related to the
registration.
2. The registry shall have to
promptly make registration in strict accordance with the contents declared by
the registration applicant, and create conditions for registration as well as
information inquiry.
3. The national data system on security
transactions and security transaction registers shall be accessible to all
people for their consultation and information inquiries when they so demand.
Article 4.-
Fees
1. Applicants for registration,
applicants for registration of changes, applicants for registration of
extension and applicants for supply of information on security transactions
shall all have to pay fees when submitting their applications; where the
applications are sent by mail or other means of communication, fees shall be
paid into the accounts of the security transactions registries.
2. The levels, management and
use of fees for registration of security transactions and supply of information
thereon shall be jointly provided for by the Finance Ministry and the Justice
Ministry.
Chapter II
STATE MANAGEMENT OVER
REGISTRATION OF SECURITY TRANSACTIONS, SECURITY TRANSACTION REGISTRIES
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The Ministry of Justice shall assist
the Government in exercising the unified management over the security
transactions registration, and have the following tasks and powers:
1. To compile and submit to the
competent agencies for promulgation or to promulgate according to its competence
legal documents on registration of security transactions;
2. To guide, inspect, direct and
provide professional and skill fostering for, security transaction registrars;
3. To manage the national
security transaction registry;
4. To issue, manage and guide
according to its competence the use of application forms, papers and registers,
and organize the management of the "national data system on security
transactions";
5. To take charge of the
statistical work on security transactions registration, sum up and report to
the Government the work of security transaction registration throughout the
country;
6. To settle complaints and
denunciations about security transactions registration according to its
competence;
7. To effect international
cooperation on security transaction registration.
Article 6.-
Tasks and powers of the Ministry of Communications and Transport and Vietnam
Civil Aviation Department in the State management over security transactions
registration.
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1. To compile and submit to the
competent agencies for promulgation or to promulgate according to their
competence legal documents on security transactions with regard to seagoing
ships and airplanes;
2. To coordinate with the
Justice Ministry in directing, guiding, inspecting and organizing the security
transactions registration for seagoing ships and airplanes according to law;
3. To organize the professional
and skill fostering for registrars of security transactions with regard to
seagoing ships and airplanes;
4. To submit to the Justice
Ministry biannual and annual reports on security transaction registration for
seagoing ships and airplanes;
5. To settle complaints and
denunciations about security transaction registration according to their
respective jurisdiction.
Article 7.-
Tasks and powers of the People�s Committees of the provinces and centrally-run cities in
the State management over security transaction registration
The People’s Committees of the
provinces and centrally-run cities shall exercise the State management over
security transaction registration with regard to the land use right and
immovable assets affixed to land in their respective localities, and have the
following tasks and powers:
1. To direct, inspect and
organize the registration as well as manage the registration of security
transactions with regard to immovable assets and land use right according to
the provisions of this Decree and relevant legal documents;
2. To establish the systems of
security transaction registration for immovable assets and land use right in
their respective localities;
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4. To submit to the Justice
Ministry biannual and annual reports on security transaction registration with
regard to immovable assets and land use right;
5. To settle complaints and
denunciations about security transaction registration according to their
competence.
Article 8.-
Security transaction registries
1. The security transaction
registries include:
a/ The national security
transaction registry and its branches;
b/ The regional seagoing ship
and crew member registry;
c/ The Vietnam Civil Aviation
Department;
d/ The provincial/municipal Land
Administration Service or Land Administration- Housing Service;
e/ The commune/ward/township
People’s Committees.
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a/ The national security
transaction registry and its branches shall register security transactions for different
types of asset, except for cases registered at the bodies stipulated at Points
b, c, d and e of this Clause;
b/ The regional seagoing ship
and crew member registry where seagoing ships have been registered shall take
charge of security transaction registration for seagoing ships;
c/ The Vietnam Civil Aviation
Department shall register security transactions with regard to airplanes;
d/ The Land Administration
Service or Land Administration- Housing Service of the locality where immovable
assets exist shall register security transactions with regard to the land use
right and immovable assets affixed to land in cases where the securing party is
an organization;
e/ The People’s Committees of
communes, wards or townships where the immovable assets exist shall register
security transactions with regard to land use right or immovable assets affixed
to land in cases where the securing party is a household or individual.
Article 9.-
Tasks and powers of the security transaction registries
The security transaction
registries shall have the following tasks and powers:
1. To register security
transactions, changes of the already registered contents or extension; and
clear the registration;
2. To issue security transaction
registration certificates and copies thereof;
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4. To refuse the registration or
the supply of information when the registration applicant or the information
supply applicant fails to declare all the contents prescribed in the application
form or fails to pay fees prescribed by law;
5. To supply information on the
already registered security transactions;
6. To collect fees for
registration, fees for supply of information on security transactions;
7. To archive dossiers,
documents and preserve the already registered information.
Chapter
III
ORDER AND PROCEDURES FOR
REGISTRATION AND SUPPLY OF INFORMATION ON SECURITY TRANSACTIONS
Article
10.- Applicant for security transaction registration and sending of
application for security transaction registration
1. The applicant for security
transaction registration may be the securing party, the secured party or the
authorized person. In case of a change of the securing party or the secured
party, the new securing party or new secured party may also be the applicant
for registration of such change.
2. The registration applicant
may submit the application directly at the registry or send it by mail or other
means of communication to the registry.
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An application for security
transaction registration must include the following principal contents:
1. The securing party and
secured party:
a/ In case of individual:
His/her name, date of birth, identity card number (if any), address, telephone
or fax number (if any);
b/ In case of organization: Its
name, type, business registration number (if any), address of its head office,
address of its branch, if the registration applicant is a branch, telephone or
fax number (if any).
2. Description of the security
assets.
Article
12.- Responsibilities of the registration applicant
1. The registration applicant
shall have to make full declaration in strict compliance with the application
form, the truth and agreement between concerned parties to security
transactions.
2. Where the registration
applicant writes in the application form contents at variance with the truth
and the agreement of concerned parties to security transactions, thus causing
damage, such applicant shall have to pay compensation therefor to the
sufferers.
Article
13.- Effect of registration
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Article
14.- Receiving applications for security transaction registration
1. Upon the receipt of an
application for security transaction registration with full contents inscribed
according to the set form, the registry shall have to inscribe in such
application the time of receipt (hour, day, month, year) and give the applicant
a copy thereof.
2. Where the application for
security transaction registration is not fully inscribed with the contents
according to the set form or the registration applicant does not pay fees, the
registry shall return such application, clearly stating the reasons for refusal
of registration.
Article
15.- Issuance of security transaction registration certificates
The registry shall have to
promptly load the contents of the registration application into the data system
or the register, and within 3 days after receiving the valid application have
to grant a security transaction registration certificate to the applicant.
Article
16.- National data system on security transactions
The security transactions
related to movable assets, seagoing ships, airplanes, land use right and
immovable assets affixed to land shall be preserved in the "national data
system on security transactions" (hereafter referred to as the data
system) under the name of the securing party.
The data system is a national
database uniformly managed by the national security transaction registry.
Article
17.- Security transaction register
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2. Security transactions related
to immovable assets and land use right of organizations, individuals and
households shall be recorded in the security transaction register for immovable
assets under the name of the securing party.
Article
18.- Contents of security transaction registration certificates
A security transaction registration
certificate shall have the following principal contents:
1. The securing party and the
secured party:
a/ Being an individual: His/her
name, date of birth, identity card number (if any), telephone or fax number (if
any);
b/ Being an organization: Its
name, type, business registration number (if any), address of its head-office,
address of its branch’s office, if the registration applicant is a branch,
telephone or fax number (if any).
2. The security assets: To
inscribe the contents on the security assets as in the registration
application;
3. The time of registration;
4. The effective registration
time-limit;
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6. The registration number;
7. The list of the security
transactions under the name of the securing party available in the data system
or the register at the time of issuance of the security transaction
registration certificate.
Article
19.- Changing the registered contents
1. The registration applicant
may request the registry to change the already registered contents. The person
requesting to change the registered contents shall have to send an application
for changes to the competent registry according to the provisions of Article 8
of this Decree.
2. An application for changes in
the registered contents shall have the following main contents:
a/ Change of the registration
applicant:
Being an individual: His/her
name, date of birth, identity card number (if any), address, telephone or fax
number (if any);
Being an organization: Its name,
type, registration number (if any), address of its head office, address of the
branch’s office, if the registration applicant is a branch, telephone or fax
number (if any).
b/ Contents of changes: The
securing party, the secured party, the security assets, the change of the order
of payment priority (if any) and other contents already registered.
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Where the registration applicant
detects errors in the application for registration or security transaction
registration certificate, he/she/it shall have the right to ask the registry to
correct such errors in strict compliance with the contents already declared in
the registration application. The submission of the written request for error
correction shall comply with the provisions of Article 10, this Decree.
Upon the receipt of the written
request for error correction, the registry shall have to write the time of the
receipt (hour, day, month, year) thereon. Within 3 days after receiving the
valid written request, the registry shall have to issue a security transaction
registration certificate to the applicant requesting the error correction.
Article
21.- Registration time
1. The security transaction
registration time is the time when the registry receives the valid application
according to the provisions of Clause 1, Article 14 of this Decree.
2. The security transaction
registration time in the following cases shall be calculated as follows:
a/ Where the registration
applicant files a written request for correction of errors in the registration
application, the registration time shall be the time the registry receives the
written request for correction of such errors;
b/ Where the registration
applicant files a written request for correction of errors in the registration
certificate, the registration time shall be the time the registry receives the
registration application according to the provisions of Clause 1, Article 14 of
this Decree;
c/ Where the applicant for
registration has written request on registration of changes, the registration
time shall be the time the registry receives the registration application
according to the provisions of Clause 1, Article 14 of this Decree; if it is a
request for registration of supplement of the security assets, the registration
time shall be the time the registry receives the written request for supplement
of such security assets.
Article
22.- Legal validity of security transaction registration
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2. The order of priority for
payment between people secured with the same asset shall be determined
according to the order of registration.
3. The registration of security
transactions and security transaction registration certificate shall not be
valid as certification of the security transactions’ truthfulness.
Article
23.- Clearance of registration
The clearance of registration
shall be effected as follows:
1. Before the expiry of the
registration time-limit stipulated in Article 13 of this Decree, the securing
party or the secured party shall request the clearance of registration in cases
stipulated in Articles 343, 362, 375 and 418 of the Civil Code and in case of
termination of the secured obligations; the registration clearance applicant
shall have to make full declaration in the application form for registration
clearance and send it to the registry according to the provisions of Article 10
of this Decree. The registration clearance applicant shall not have to pay
fees.
2. The registry shall clear the
registration in the data system or the register. Within 3 days after receiving
the application for registration clearance, the registry shall issue a
certificate of security transaction registration clearance to the applicant
according to the set form. Where the applicant for registration clearance is
the securing party, the registry shall have to send the secured party a copy of
the certificate of security transaction registration clearance.
Article
24.- Supply of information on security transactions
1. All individuals and
organizations have the right to inquire into information on security
transactions. The registries shall have to provide guidance and create
conditions for individuals and organizations to inquire into information on
security transactions.
2. The supply of information
shall be effected under the name of the securing party mentioned in the
application.
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Article
25.- Competence of security transaction registries in supplying information
The competence of security transaction
registries in supplying information is stipulated as follows:
1. The national security
transaction registry and its branches shall supply information on security
transactions available in the data system;
2. The seagoing ships and crew
member registry and Vietnam Maritime Department shall supply information
registered on security transactions related to seagoing ships;
3. The Vietnam Civil Aviation
Department shall supply information on registered security transactions related
to airplanes;
4. The Land Administration
Services or Land Administration- Housing Services of localities having
immovable assets shall supply information on registered security transactions
related to land use right and immovable assets affixed to land of
organizations;
5. The People’s Committees of
communes, wards and townships where the immovable assets exist shall supply
information on registered security transactions related to land use right and
immovable assets affixed to land of individuals and households.
Chapter IV
IMPLEMENTATION PROVISIONS
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Security transactions with
regard to immovable assets already registered before the date this Decree takes
effect, which now fall under the registration competence of the national
security transaction registry and its branches shall be re-registered according
to the application of the registration applicant.
Within 12 months after this
Decree takes effect, if individuals or organizations apply for re-registration,
they shall not have to pay the registration fees and the former registration
date shall still be reserved; applications for re-registration submitted after
this time-limit shall be considered applications for new registration, which
shall take effect as from the registration time stipulated in Article 21 of
this Decree.
Article
27.- Effect of the Decree
This Decree takes effect 15 days
after its signing.
The earlier provisions contrary
to this Decree are all now annulled.
Article
28.- Implementation of the Decree
1. The Ministry of Justice, the
ministries, the ministerial-level agencies and the agencies attached to the
Government shall, within the ambit of their functions, tasks and powers, have
to guide the implementation of this Decree.
2. The ministers, the heads of
the ministerial-level agencies, the heads of the agencies attached to the
Government, the presidents of the People’s Committees of the provinces and
centrally-run cities shall have to implement this Decree.
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ON BEHALF OF THE
GOVERNMENT
PRIME MINISTER
Phan Van Khai