Ensuring Safety For Debt Trafficking Market

Need to review the legal framework for debt purchase and sale activities for the market to buy and sell debts into the framework, ensuring the safety of the buyers and the debt sellers. Investment in 2014 regulations on purchase business Debt sale is a conditional business line. Guidance on law enforcement, July 1, 2016 The Government has issued Decree No. 69/2016 / ND-CP on the conditions for debt purchase service business. Decree No

. 69/2016 / ND-CP does not assign the Ministry of Finance to assume the prime responsibility and propose the proposal of the establishment of debt trading market in Vietnam and debt trading transactions, in Article 9 of them Decision No. 69/2016 / ND-CP regulating the responsibilities of the Ministry of Finance: (i) Be responsible to the Government on state management for debt purchase and sale service enterprises; (ii) Implementing management, inspection, inspection and supervision according to their competence to operate debt purchase service business; (iii) Guiding the implementation of the Decree. The implementation of this Decree, the Ministry of Finance has issued Circular No
53/2017 / TT-BTC dated 19/5/2017 guiding the implementation of Decree No. 69/2016 / ND-CP and implementing supervision and supervision of debt purchase service businesses through the Report of People's Committees of provinces and cities directly under the Central Government. Insurance 2021, the National Assembly issued Law of Investment No. 61 2020 / QH14, which stipulates the debt trading business is no longer a conditional business line. , detailing and guiding the implementation of a number of articles of the Investment Law, including to abolish Decree No. 69/2016 / ND-CP. So, Decree No. 69/2016 / ND-CP Execution effect. Pursuant to the above provisions, the lines of debt trading services are no longer a conditional business lines. Conditional business trading activities are carried out as a normal service business according to regulations Current (no restrictions on this industry)
The current regulation has removed the legal barriers to the debt purchase and sale business shall be carried out more well. About debt selling activities, currently has many enterprises implemented and each enterprise has a French framework Different operations, including: (1) Debt management and asset exploitation companies under Commercial Banks (AMCS) to buy and sell debts of credit institutions, established under Decision No. 150/2001 / QD -Ttg dated October 5, 2001 of the Prime Minister; (2) Vietnam Debt Trading Co., Ltd (DATC), established, organized and operated Decree No. 129/2020 / ND-CP of its own covered on October 27, 2020, carrying out debt trading of state-owned enterprises; (3) Asset management companies of Vietnamese credit institutions (VAMC), was established and operated according to the Decree No. 53/2013 / ND-CP dated May 18, 2013 of the Government and decrees amending and supplementing regulations on buying and selling bad debts of credit institutions; (4) for other organizations and individuals The Law on revised investment, debt trading activities are no longer professions Conditional business; Therefore, the purchase and sale of debt will be governed in accordance with civil law and corporate law (for debt trading companies). Insurance 2020, the Ministry of Finance has also reported players Prime Ministers reviewed the legal framework for debt purchase and sale activities and have proposed relevant ministries to pay attention to the above institutions. And then, the new debt trading market actually goes into the framework, ensuring the safe for the buyer and the debt seller. Binh Son

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