THE GOVERNMENT
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 12/2021/ND-CP
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Hanoi, February 24, 2021
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DECREE
AMENDMENTS TO THE GOVERNMENT'S
DECREE NO. 89/2013/ND-CP DATED AUGUST 06, 2013 ON ELABORATION OF SOME ARTICLES
OF THE LAW ON PRICES REGARDING VALUATION
Pursuant
to the Law on Government Organization dated June 19, 2015; Law on Amendments to
some Articles of the Law on Government Organization and Law on Local Government
Organization dated November 22, 2019;
Pursuant
to the Law on Prices dated June 20, 2012;
Pursuant
to the Law on Investment dated November 26, 2014;
At the
request of the Minister of Finance;
The
Government hereby promulgates a Decree on amendments to the Government's Decree
No. 89/2013/ND-CP dated August 06, 2013 on elaboration of some Articles of the
Law on Prices regarding valuation.
Article 1. Amendments to the Government's Decree No.
89/2013/ND-CP dated August 06, 2013 on elaboration of some Articles of the Law
on Prices regarding valuation
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“Article
7a. Obligation of practicing valuators to sign a valuation report and valuation
certificate
1. A
practicing valuator, except for the valuator who is the legal representative of
an enterprise, must sign at least 10 valuation certificate and valuation
reports in the year in which such valuator is informed that he or she will
practice.
2. If, by
15 December of the practicing year, the practicing valuator who has practiced
for 06 months or more in such year has signed less than 10 valuation
certificate and valuation reports, he or she is not permitted to register to
practice in the following year.”
2.
Article 8a is added after Article 8 of the Decree No. 89/2013/ND-CP as follows:
“Article
8a. Requirements to be satisfied by the
legal representative, director or general director of a valuation enterprise
The legal
representative, Director or General Director of a valuation enterprise shall
satisfy the following requirements:
1. He/She
is a valuator who has registered to practice at the enterprise as prescribed in
Point c Clause 1 or Point c Clause 2 or Point c Clause 3 or Point c Clause 4 or
Point c Clause 5 Article 39 of the Law on Prices.
2. He/She
has acted as a valuator for at least 03 years (36 months) before becoming the
legal representative, Director or General Director of the valuation enterprise.
3. He/She
has not been the legal representative, Director or General Director of a valuation
enterprise whose Certificate of eligibility to provide valuation services has
been revoked for a period of 01 year (12 months) by the time of submitting the
application for issuance or re-issuance of the certificate of eligibility to
provide valuation services.”
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“7. The valuation
enterprise is currently subject to suspension or temporary suspension of its valuation
activities. During the period of time over which the enterprise fails to
satisfy one of the conditions applicable to the types of enterprise specified
in Clauses 1 through 5 Article 39 of the Law on Prices but is not subject to
suspension of its valuation activities, the enterprise is not permitted to sign
any valuation service contract.”
4.
Article 1 Article 11 of the Decree No. 89/2013/ND-CP is amended as follows:
“1. The
prices for valuation services shall be set under the agreement between the
valuation enterprise and its customer according to Clauses 2 and 3 of this
Article on the principle of ensuring that the actual reasonable production and
business costs are offset and profit is earned in line with the market prices,
and shall be specified in the valuation contract; in the case where the bidding
for valuation services is governed by the Law on Bidding, regulations of law on
biding shall be complied with.”
5.
Article 12a is added after Article 12 of the Decree No. 89/2013/ND-CP as
follows:
“Article
12a. Resolution of disputes over valuation results between valuation
enterprises and their customers
If a
dispute over the valuation results between a valuation enterprise and its
customer arises, the dispute shall be resolved adopting the following methods:
1.
Negotiation and conciliation on the basis of the commitments specified in the valuation
contract.
2.
Commercial arbitration.
3.
Institution of a lawsuit at a Court as prescribed by law.”
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“Article
12b. Connection to the national price database
1. The
Ministry of Finance shall build, manage and operate a national price database
and enable valuation enterprises to connect the database built by them to the
national price database.
2. Valuation
enterprises shall connect the database built by them to the national price
database.”
7. Points
a, dd and e Clause 1, Points a and c Clause 2 Article 14 of the Decree No.
89/2013/ND-CP are amended as follows:
“1.
a) An
application form for issuance or re-issuance of the certificate of eligibility
to provide valuation services, which is made using the Form promulgated by the
Ministry of Finance;
dd) A
list of capital contributions from members which is certified by the enterprise
in the case where the Enterprise Registration Certificate does not include a
list of capital contributing members or a list of shareholders;
e) A
receipt for payment of the fee for assessment of the application for issuance
of the certificate of eligibility to provide valuation services;”
“2.
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c) A
receipt for payment of the fee for assessment of the application for issuance
of the certificate of eligibility to provide valuation services;”
8.
Article 15 of the Decree No. 89/2013/ND-CP is amended as follows:
“Article
15. Deadline for issuance or re-issuance of the certificate of eligibility to
provide valuation services
1. Within
15 (fifteens) working days from the receipt of 01 (one) complete set of the
application prepared by the enterprise according to Clause 1 or 2 Article 14 of
this Decree, the Ministry of Finance shall issue or re-issue the certificate of
eligibility to provide valuation services to the valuation enterprise.
2. In
case of refusal to issue or re-issue the certificate of eligibility to provide valuation
services, the Ministry of Finance shall give a written response specifying
reasons therefor to the enterprise registering to provide valuation services
within 05 (five) working days from the receipt of the application.”
9. Point
dd Clause 1 of Article 17 is amended and Point g is added to Clause 1 Article
17 of the Decree No. 89/2013/ND-CP as follows:
“dd) The
enterprise is dissolved, goes bankrupt or suspended from business in accordance
with regulations of law on enterprises and law on bankruptcy; terminates its valuation
services of its own free will; changes its shareholders or capital contributing
members that are practicing valuators at the enterprise;
g) There
is a practicing valuator at the enterprise who has been banned from practicing
valuation under an effective judgment or decision of a Court; who has faced a
criminal prosecution; who has been convicted of an economic crime or a
title-related crimes arising from financial, price or valuation activities to
the extent of serving administrative sanctions in the form of education at the
commune, ward or township; who has been convicted of a serious or more serious
economic crime; who has committed a violation against financial laws to the
extent of having to serve administrative sanctions.”
10.
Clause 3 is added to Article 27 of the Decree No. 89/2013/ND-CP as follows:
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Article 2. Grandfather clauses
1. Any valuation
enterprise submitting a complete application for issuance of the certificate of
eligibility to provide valuation services before the effective date of this
Decree may be considered to be issued with the certificate of eligibility to
provide valuation services under the Government’s Decree No. 89/2013/ND-CP.
2. By
December 31, 2021, any valuation enterprise issued with the certificate of
eligibility to provide valuation services under the Government’s Decree No.
89/2013/ND-CP shall satisfy the conditions applicable to the legal
representative, Director or General Director set out in Article 1 of this
Decree.
Article 3. Implementation clause
1. This
Decree comes into force from May 01, 2021.
2.
Ministers, heads of ministerial agencies, heads of Governmental agencies, Chairmen/Chairwomen
of People’s Committees of provinces and central-affiliated cities are
responsible for the implementation of this Decree.
ON BEHALF OF THE GOVERNMENT
THE PRIME MINISTER
Nguyen Xuan Phuc
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