On July 28, the National Assembly Standing Committee gave opinions on the draft Law on Property Auction (amended).
Presenting the submission of the draft Law on Property Auction (amended), Member of the Party Central Committee, Minister of Justice Hoang Thanh Tung said that the development of this draft law aims to strengthen the responsibility of auctioneers, auction participants, auctioneers, and property auction organizations.
At the same time, there should be a mechanism to strictly control auctions and sanctions for violations in asset auction activities.
The draft law has supplemented many important contents. In which, it supplements regulations on the selection of auction practice organizations for assets with a starting price of less than 200 million VND in the direction of creating conditions for the selection of assets with small starting prices as mentioned above to be fast, timely, and save time and costs.
Supplementing regulations on the principle that auction participants who have submitted dossiers, valid deposits and attended the auction session are considered to have agreed to buy assets at the starting price to limit the situation of "brokers", people who do not really need to buy but still participate in the auction for profit.
Notably, the draft amended and supplemented Law stipulates raising the deposit rate in the land use right auction to allocate residential land to individuals; at the same time, to ensure the gap between the minimum and maximum rates is reasonable and feasible, accordingly, the deposit rate in the land use right auction to allocate residential land is from 20% to 50%.
The draft amended Law also supplements regulations that property auction organizations must post property auction results on the National Property Auction Portal to gradually form an information and data system on property auctions nationwide.
Supplementing regulations prohibiting participation in auctions of residential land use rights for individuals who win auctions but "abandon their deposits".
Preliminary appraisal of the draft amended Law, Member of the Party Central Committee, Chairman of the National Assembly's Economic and Finance Committee Phan Van Mai proposed to continue reviewing and perfecting regulations on procedures for each form of auction to ensure publicity, transparency, and convenience for auction participants but still strictly control the auction organization process, especially for online auctions.
Regarding deposits and price steps, the Chairman of the Economic and Finance Committee proposed to continue to study and fully assess the impact on regulations on deposits and price steps, ensuring feasibility.
At the same time, clarify the principles and criteria for determining appropriate price steps for each asset group to ensure the competitiveness, publicity, and transparency of the auction, and limit the situation of price steps being too large or too small affecting auction efficiency.
It is proposed to continue to review the basis, authority, order, and procedures for canceling auction results; ensure timely handling of violations, and at the same time limit the occurrence of complaints and lawsuits and ensure the stability of civil transactions.
