Vietnam Law has regulations on disposal of infrastructural property. Let’s find out this issue with Lawyer X through the following situation: “Dear Lawyer! I want to ask what are forms to dispose of infrastructural property in Vietnam? What are regulations on withdrawal of infrastructural property? What are regulations on transfer of infrastructural property? Thanks for answering me!’
Legal grounds
- 2017 Vietnam Law on Management and Use of Public Property
Forms to dispose of infrastructural property
– Withdrawal.
– Transfer.
– Sale.
– Using infrastructural property to make payments to investors when executing construction projects in the form of build-transfer contracts.
– Liquidation.
– Disposal of infrastructural property if it is lost or damaged.
– Other forms as prescribed by law.
Regulations on Withdrawal of infrastructural property
– Infrastructural property shall be withdrawn if:
+ There is a change in planning or power to manage infrastructural property;
+ The property is distributed to improper authorities or organizations, used for the improper purposes; or the property is for lending;
+ The property is sold, leased, given, mortgaged; the property is used for capital contribution or for joint venture purposes illegally;
+ The property is distributed but no longer used or its operation is not effective;
+ Other cases as prescribed by law.
– Authorities assigned to manage public property specified in Clauses 1, 2 and 3 Article 19 herein shall:
+ Receive withdrawn property according to a competent authority’s decision; carry out or authorize a state authority having property withdrawn to carry out storage, protection, maintenance or repair of property pending the disposal of the property;
+ Make plans to dispose of or operate withdrawn property to submit them to a competent authority for approval; dispose of or operate property according to plans approved by a competent authority.
– Withdrawn infrastructural property shall be:
+ Distributed to authorities or organizations specified in Article 75 herein;
+ Transferred as specified in Article 89 herein;
+ Put on the market as specified in Article 90 herein.
– Where the withdrawn infrastructural property is distributed to an entity to operate according to regulations of Points b, c, d and dd Clause 1 Article 80 herein, rights and obligations of relevant parties shall be handled in accordance with the agreement terms and regulations of relevant law.
Transfer of infrastructural property
– Infrastructural property shall be transferred among authorities and organizations assigned to manage infrastructural property if:
+ There is a change in managing authorities or power to manage infrastructural property;
+ The property is distributed but no longer used or its operation is not effective;
+ Other cases prescribed by law.
– Authorities and organizations having property transferred shall undertake and cooperate with authorities or organizations eligible for receiving property in property transfer and receipt. Authorities or organizations eligible for receiving property shall make payments for reasonable costs related to property transfer and receipt. There shall be no payment for value of property when the infrastructural property is transferred.
Sale of infrastructural property
– Infrastructural property shall be put on the market in the following cases:
+ Withdrawal of property as specified in Article 88 herein;
+ Converting purposes of land use associated with converting utility of infrastructural property in line with the planning approved by a competent authority;
+ Other cases prescribed by law.
– Sale of infrastructural property shall comply with regulations of law on property auction.
– Authorities assigned to manage public property specified in Clauses 1, 2 and 3 Article 19 herein or authorities having property for sale shall make the sale of property in accordance with regulations of law.
Use of infrastructural property to make payments to investors when executing construction projects in the form of build-transfer contracts
Use of infrastructural property to make payments to investors when executing construction projects in the form of build-transfer contracts shall comply with provisions of Article 44 herein.
Liquidation of infrastructural property
– Infrastructural property shall be liquidated if:
+ Infrastructural property is damaged that fails to be repaired;
+ Old infrastructural property is demolished to invest in construction of the new one according to a project approved by a competent authority;
+ A competent state authority revises the planning that makes partial or entire infrastructural property unable to use in line with utility of the property;
+ Other cases as prescribed by law.
– Infrastructural property shall be liquidated in the form of demolition or destruction. Materials withdrawn from such demolition or destruction shall be:
+ Distributed to an authority having liquidated property to continue managing or using it;
+ Transferred;
+ Put on the market.
– Based on a competent authority’s decision, an authority having property liquidated shall:
+ Demolish or destroy the property according to regulations of law;
+ Make plans and report them to a competent authority to make a decision on disposal of withdrawn materials carried out in the forms specified in Clause 2 this Article;
+ Transfer or sell withdrawn materials according to provisions of Article 89 and Article 90 herein.
What to do with lost and damaged infrastructural property
– If public property is lost or damaged due to natural resources, fire or other causes, a state authority assigned to manage infrastructural property shall:
+ Report on lost or damaged property and responsibilities of relevant entities to a competent authority;
+ Make property write-offs and handle the liability of relevant entities according to a competent authority’s decision.
– If the lost or damaged infrastructural property is compensated by an insurance company or a relevant entity, the compensation shall be used to invest in reconstruction of the infrastructure according to regulations of 2017 Vietnam Law on Management and Use of Public Property and relevant law.
Management and use of proceeds earned from disposal of infrastructural property
– The proceeds earned from disposal of public property shall be transferred to temporary accounts at a state treasury after deducting expenses related to the disposal of the property; the remainder shall be transferred to the state budget.
– Costs related to disposal of infrastructural property shall be estimated and approved by a competent state authority. Costs related to disposal of the property shall consist of:
+ Cost of inventory or measurement;
+ Cost of relocation, demolition or destruction;
+ Cost of evaluation of property;
+ Cost of selling property;
+ Other reasonable costs.
Construction investment, management and operation of infrastructural property carried out in the form of public-private partnerships
– Investment in construction of infrastructural property in the form of public-private partnerships shall comply with regulations of law on investment, law on construction, law on bidding and relevant law. The State encourages organizations and individuals participating in construction investment and operation of infrastructural property.
– Existing infrastructural property used to participate in a project shall be approved by a competent authority.
– Authorities assigned to manage infrastructural property shall follow and make a report on proportion of the infrastructural property used to participate in a project while appointing an investor to execute the project.
– Investors are entitled to manage, use and operate the proportion of their own property within the agreed term of contracts to withdraw the payback. Investors shall maintain the property within the term of contracts to ensure normal operation of the infrastructural property. If the basis for determining the value of contracts fluctuates widely according to the Government’s regulations, parties to such contracts shall adjust them.
– Infrastructural property invested in the form of public-private partnerships shall be audited as soon as an investor operates and conducts periodic inspection in the process of investment and operation.
Transfer of property formed from projects executed in the form of public-private partnerships to the State
– Investors shall transfer the ownership, the right to use and operate the property formed from the execution of projects to the State in line with project contracts; ensure technical requirements for normal operation of construction works and compliance with terms of contracts.
– Competent state authorities shall inspect quality and conditions of the property as agreed in project contracts, make a list on transferred property, determine the damage (if any) and ask investors for repairing and maintaining the property.
Investors shall ensure that the transferred property is not used for fulfillment of financial obligations or other obligations of investors arising prior to the date of transfer, unless otherwise stated in project contracts.
– Disposal of transferred property:
+ If the property is transferred by the State to an investor, a competent state authority shall report to a competent authority to distribute the property to a managing authority in accordance with provisions herein;
+ If the property is invested by the investor, the competent state authority shall follow procedures for establishment of public property according to provisions of Section 2 Chapter VI herein.
The competent state authority shall manage and operate the property within its functions and power when the property has not been transferred to the managing authority;
+ Where the property is transferred according to the term of the contract but then the investor is eligible to trade or provide services on the basis of operation and operation of such property within a certain period of time as stated in the contract, management and operation of the property shall comply with regulations of Clauses 3, 4 and 5 Article 95 herein.
Please see more:
- Instructions for exclusive registration of company logos in Vietnam
- Service of changing the legal representative of Vietnamese enterprises
Services of Lawyer X
Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.
On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.
Cost: Besides, Lawyer X’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.
Confidentiality of client information: Finally, all personal information of clients Lawyer X will be 100% confidential.
If you need any further information, please contact LSX Law firm: at +84846175333 or Email: [email protected]
Frequently asked questions
Forms to dispose of infrastructural property include: Withdrawal; Transfer; Sale; Using infrastructural property to make payments to investors when executing construction projects in the form of build-transfer contracts; Liquidation; Disposal of infrastructural property if it is lost or damaged; Other forms as prescribed by law.
Infrastructural property shall be withdrawn if:
+ There is a change in planning or power to manage infrastructural property;
+ The property is distributed to improper authorities or organizations, used for the improper purposes; or the property is for lending;
+ The property is sold, leased, given, mortgaged; the property is used for capital contribution or for joint venture purposes illegally;
+ The property is distributed but no longer used or its operation is not effective;
+ Other cases as prescribed by law.
Infrastructural property shall be transferred among authorities and organizations assigned to manage infrastructural property if:
+ There is a change in managing authorities or power to manage infrastructural property;
+ The property is distributed but no longer used or its operation is not effective;
+ Other cases prescribed by law.
Conclusion: So the above is Regulations on disposal of infrastructural property in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
