Authority to decide on sale of public assets under new law

Office of Legal Consulting of Lao Dong Newspaper replied:

Clause 14, Article 1 of Decree 114/2024/ND-CP (effective from October 30, 2024) amends and supplements a number of articles of Decree 151/2017/ND-CP detailing a number of articles of the Law on Management and Use of Public Assets, stipulating the amendment of Clause 2, Article 22 on the authority to decide on the sale of public assets as follows:

2. The authority to decide on the sale of public assets in the cases specified in Points a, b and c, Clause 1, Article 43 of the Law on Management and Use of Public Assets is stipulated as follows:

a) Ministers and heads of central agencies decide to sell the headquarters of state agencies under the management of ministries and central agencies after receiving the opinion of the Chairman of the People's Committee of the province where the property for sale is located.

b) Ministers and heads of central agencies shall prescribe the authority to decide on the sale of fixed assets that are not the headquarters of state agencies under the management of ministries and central agencies.

c) The People's Council at the provincial level shall prescribe the authority to decide on the sale of fixed assets of state agencies under the management scope of the locality.

d) The head of the state agency assigned to manage and use public assets decides to sell:

Public assets are fixed assets under the authority prescribed by the Minister, Head of central agency, and Provincial People's Council;

Public property is not fixed property.

Thus, the authority to decide on the sale of public assets under the new law is stipulated as above.