Circular No. 14/2018/TT-BTP issues the Code of Ethics for Auctioneers to guide auctioneers in complying with legal regulations, ensuring objectivity and fairness in asset auctions. This document applies to all auctioneers and related organizations.
Scope of application
Auctioneer; social-professional organization of auctioneers; asset auction organization; organization owned 100% by the State capital established by the Government to handle bad debts of credit institutions.
Key points
- Auctioneers must adhere to the code of ethics when conducting auction activities (Article 3).
- Auctioneers shall not benefit from the auction of assets, except with the consent of the transaction party and the auction organization (Article 4).
- Auctioneers must protect confidential information related to auction activities (Article 5).
- Auctioneers shall not participate in activities that may create conflicts of interest with their work (Article 6).
- Auctioneers must comply with regulations on reporting and archiving records related to auction activities (Article 7).
🌐 Social impact of this document
- Enhance transparency and fairness in asset auction activities.
- Minimize ethical risks and conflicts of interest for all parties involved.
- The affected entities are organizations and individuals participating in auction activities.
❓ Frequently asked questions
When does the Code of Ethics for Auctioneers take effect?
This Circular takes effect from December 12, 2018 (Article 2).
Which entities must comply with the Code of Ethics for Auctioneers?
Auctioneers; social-professional organization of auctioneers; asset auction organization; organization owned 100% by the State capital established by the Government to handle bad debts of credit institutions.
Can auctioneers benefit from the auction process?
No, except with the consent of the transaction party and the auction organization (Article 4).
Full text
CIRCULAR
Issuing Rules of Professional Ethics for Auctioneers
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Pursuant to the Law on Auctioning Assets No. 01/2016/QH14 dated November 17, 2016;
Pursuant to Decree No. 96/2017/NĐ-CP dated August 16, 2017, issued by the Government on the functions, tasks, powers, and organizational structure of the Ministry of Justice;
At the proposal of the Director of the Department of Judicial Support;
The Minister of Justice issues this Circular on the issuance of Rules of Professional Ethics for Auctioneers.
Article 1. Scope of Regulation
This Circular includes the Rules of Professional Ethics for Auctioneers.
Article 2. Effective Date
This Circular takes effect from December 12, 2018.
Article 3. Responsibility for Implementation and Organization of Execution
The Heads of the Office, the Director of the Department of Legal Assistance, the Heads of units under the Ministry, the Directors of Provincial Departments of Justice, the organizations of auctioneers, auction organizations, organizations wholly owned by the State with charter capital established by the Government to handle non-performing loans of credit institutions, auctioneers, and related organizations shall be responsible for implementing this Circular.
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