Newsletter on December 2022

Our Newsletter #5 would lead you on the following:

LEGAL UPDATE

I. Law on the Implementation of Democracy at Grassroots Level

The National Assembly promulgated the Law on the Implementation of Democracy at Grassroots Level No. 10/2022/QH15 dated 10 November 2022 with the following notable contents:

  • Implementing democracy at the grassroots is a way to promote the People’s right to mastery, so that citizens, cadres, civil servants, officers and employees can be informed and expressed their will, aspirations and political opinions through discussions, opinions, decisions, inspection and supervision of issues at the grassroots level in accordance with the Constitution and laws.
  • Regarding the exercise of democracy in enterprises and other organizations that hire and use employees under labor contracts in the non-state sector, the rights of employees are as follows:
    • To be disclosed information and requested to provide complete, accurate and timely information in accordance with the provisions of law.
    • Proposing initiatives, giving opinions, discussing and deciding on the contents of implementing democracy at the grassroots in accordance with the provisions of this Law and other relevant laws.
    • Inspecting, supervising, recommending, reflecting, complaining, denouncing and initiating lawsuits against decisions and acts violating the law on the implementation of grassroots democracy in accordance with law.
    • To be recognized, respected, protected and guaranteed legitimate rights and interests in the implementation of grassroots democracy in accordance with law.
  • Enterprises and other organizations that hire or use the employees under labor contracts in the non-state sector, depending on the characteristics, nature of organization, operation and actual conditions of the organization, are entitled to choose to apply the regulations on implementing democracy and make the applicable content public for the employees to know.
    • Except for information that is a state secret, a business secret or information that has not been disclosed public as prescribed by law, the contents that must be disclosed including:

a) The production and business situation or the operation of the enterprise in accordance with the law on enterprises and other relevant laws;

b) Labor rules, salary scale, payroll, labor norms, internal rules, regulations and other regulations of the enterprise related to the rights, interests and obligations of the employees;

c) Collective labor agreements that the enterprise has signed and participated in;

d) The setting up and use of award funds, welfare funds and funds contributed by the employees (if any);

e) The deduction and payment of union fees, payment of social insurance, health insurance and unemployment insurance;

f) The performance of emulation, commendation, discipline, resolution of petitions and reflections related to the rights, interests and obligations of the employees;

g) Regulations on the implementation of democracy by the enterprise;

h) Other contents on financial information, public asset management and personnel work as prescribed by law and regulations on the implementation of democracy at the enterprise.

    • Form of information disclosure such as information listing; announcement at the conference of employees; at a dialogue conference between the employer and the Union Executive Committee at the enterprise; at meetings and briefings of units and sections of the enterprise; notify in writing to all employees; through telecommunications networks, social networks working together, etc.
  • This Law takes effect from 01 July 2023.

II. Law on Anti-Money Laundering

The National Assembly promulgated the Law on Anti-Money Laundering No. 14/2022/QH15 dated 15 November 2022 with the following new notable contents:

  • Additional reporting objects are payment intermediary service providers.
  • Based on the results of assessment and update of money laundering risks, the reporting subject develops a money laundering risk management process. The money laundering risk management process includes the classification of customers according to low, medium and high risk levels and applicable measures corresponding to the levels of risk of money laundering.
  • The reporting subject applies measures corresponding to the client’s money laundering risks according to the following provisions:
    • For the customers with low risk of money laundering, the reporting subject can collect, update and verify the customer identification information to a slightly reduced extent after first establishing a relationship with the client;
    • For the customers with medium risk of money laundering, the reporting subject must identify the customer specified in Article 9 of the Law on Anti-Money Laundering;
    • For the customers with a high level of risk of money laundering, in addition to the measures specified above, the reporting subject must apply enhanced measures including collecting, updating and verifying the customer identification information, strengthening and closely monitoring customer transactions.
  • More suspicious signs in the banking sector are listed:
    • There are signs of suspicion that the customers use personal accounts to make transactions related to the organization’s activities or trade on behalf of other individuals.
    • Online transactions through accounts are constantly changing in terms of login device or Internet protocol (IP) address abroad.
  • More suspicious signs in the securities sector: Foreign investors residing in countries or territories with high risk of money laundering contribute capital to establish securities investment funds, securities investment companies securities in Vietnam.
  • This Law takes effect from 01 March 2023.

III. Some contents of receiving and explaining the opinions of the National Assembly on the Land Law project (amended)

The Government promulgated Report No. 474/BC-CP dated 05 December 2022 on some contents of receiving and explaining the opinions of Members of the National Assembly on the draft Land Law (amended) with the following contents:

  • Regarding land use through the form of receiving the transfer, leasing of land use rights, receiving capital contribution with land use rights to implement investment projects. The drafting authority would like to receive and complete Article 128 of the draft Law in the direction of:
    • Specific regulations on cases of agreement on land use rights serve as a basis for the State to regulate the difference in value of land use rights created and reform administrative procedures corresponding to the level and requirements of the State management for each case is an agreement on agricultural land use rights, no change of land use purpose, no change of land use purpose for the implementation of non-agricultural production and urban projects, commercial housing, rural residential areas; simultaneously stipulates that in case the land use right is agreed upon but the land use purpose is changed, the investor must pay the land use fee and land rent calculated at the specific land price.
    • Specific regulations on the State’s support policies on land use rights agreements to create favorable conditions for investors through specific policies such as income tax exemption for rental income land during the time of lease, sub-lease of land use rights, receipt of capital contribution in the form of land use rights; permit the formulation of projects with the land area managed by the State located in the area of land under the agreement and recovered by the State to be allocated or leased to the investors to implement the project auction of land use rights, not bidding for projects using land; allow households and individuals using land that are eligible for issuance of a Land Use Right Certificate but have not yet been granted the Land Use Right Certificate to still perform an agreement on land use rights concurrently with the granting procedures of Land Use Right Certificate.
    • Simultaneously the drafting authority received and completed Article 210 of the draft Law on land use right contribution and land adjustment in the direction of: Specific regulations on cases of land use right contribution and land adjustment, on the conditions for the contribution of land use rights and land readjustment; contents of the plan on contribution of land use rights and land adjustment, on the implementers and responsibilities of the People’s Committees at all levels.
  • Regarding land registration, issuance of Land Use Right Certificate, ownership of houses and other land-attached assets
    • The drafting authority reports as follows: According to the provisions of Article 53 of the Constitution “Land belongs to the entire people and is managed by the State on behalf of the owner and uniformly managed”. Therefore, the land user must have a mandatory responsibility to register with the state authority for unified management, related to the property registration according to the owner’s demand is in accordance with the Civil Code, whereby the property owner has the right to dispose of and register his/her property according to his/her needs with state authority.
    • Regarding the certification of ownership in the case of assets attached to land (resort real estate, property created on other people’s land, etc.) are the contents related to technical regulations. The drafting authority shall accept and stipulate in the document guiding the implementation of the law.

PUBLISHED ARTICLES

  1. 04 notes of Vietnam laws on the installation of electric vehicle charging stations 
  2. The newest report of the MOIT regarding Power Development Plan VIII 
  3. 03 notes for shares transferring in join stock companies in Vietnam
  4. List of 35 frequently asked questions and answers about CISG (part 2) 

PUBLISHED VIDEO

BLawyers Vietnam’s lawyers would like to provide 3 legal risks for Condotels under the Vietnamese laws

UPCOMING EVENTS

FOOD INDUSTRY PRODUCTS EXHIBITION WEEK 2022

Date of Event: 23/12/2022 – 29/12/2022

Location: Ho Chi Minh City

Supporting Organizations are:

  • Trade and Investment Promotion Center of Ho Chi Minh City
  • Food Association of Ho Chi Minh City

For more information, see at: Tuần lễ triển lãm sản phẩm ngành lương thực thực phẩm năm 2022

For downloading: 

Newsletter #4 (EN version)

Maybe you are interested in reading other Newsletters of BLawyers Vietnam: Newsletter on November 2022 / Newsletter on October 2022

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