Decree No. 172/2024/ND-CP provides detailed regulations on certain provisions of the Auction Law No. 01/2016/QH14, amended and supplemented by Law No. 37/2024/QH15.

DECREE

Detailed regulations on certain provisions of the Auction Law No. 01/2016/QH14 amended and supplemented by certain provisions of the Law No. 37/2024/QH15

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Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Auction Law dated November 17, 2016; the Law amending and supplementing certain provisions of the Auction Law dated June 27, 2024;

At the proposal of the Minister of Justice;

The Government promulgates this Decree providing detailed regulations on certain provisions of the Auction Law No. 01/2016/QH14 amended and supplemented by certain provisions of the Law No. 37/2024/QH15.

 

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Decree provides detailed regulations on certain provisions of the Auction Law No. 01/2016/QH14 amended and supplemented by certain provisions of the Law No. 37/2024/QH15, including:

1. Revocation of the Business Registration Certificate of auction enterprises at the request of competent authorities as provided for in Clause 19, Article 1 of the Law amending and supplementing certain provisions of the Auction Law.

2. Requirements and conditions for the National Auction Portal and requirements, conditions, and procedures for assessing and approving online auction information pages; responsibilities of state agencies, organizations, and individuals in establishing, managing, operating, and using the National Auction Portal and online auction information pages; procedures and formalities for online auctions as provided for in Clause 28, Article 1 of the Law amending and supplementing certain provisions of the Auction Law.

3. Bidding, acceptance of bids, and selection of bidding and acceptance methods in the auction of frequency spectrum usage rights as provided for in Clause 38, Article 1 of the Law amending and supplementing certain provisions of the Auction Law.

4. Handling violations by successful bidders in land auctions for land allocation and lease for investment projects and mineral exploitation rights as provided for in Clause 41, Article 1 of the Law amending and supplementing certain provisions of the Auction Law.

Article 2. Applicability

1. This Decree applies to auction enterprises, auction councils, organizations wholly owned by the State with 100% capital contribution established by the State Bank of Vietnam to handle non-performing loans of credit institutions, state management agencies on auctions, auction officers, persons with auctioned assets, participants in auctions, successful bidders, and related individuals and organizations.

2. Merchants and organizations that are not auction enterprises setting up online auction information pages in accordance with laws on electronic commerce are not subject to this Decree.

Chapter II

REVOCATION OF BUSINESS REGISTRATION CERTIFICATE OF AUCTION ENTERPRISES AT THE REQUEST OF COMPETENT AUTHORITIES

AUCTION OF ASSETS UPON THE PROPOSAL OF THE AUTHORIZED AUTHORITIES

Article 3. Procedures and formalities for revoking the Business Registration Certificate of auction enterprises at the request of competent authorities

1. In cases where the Department of Justice of the province or centrally-administered city where the auction enterprise is registered receives a document from a competent authority requesting the revocation of the Business Registration Certificate of the auction enterprise, it shall proceed as follows:

a) Within three working days from the date of receipt of the document from the competent authority, the Department of Justice shall notify in writing and require the legal representative of the auction enterprise to come to its office for explanation.

b) If, within ten working days from the end of the period specified in the notification of the Department of Justice, the person requested does not come to explain, the Department of Justice shall issue a decision to revoke the Business Registration Certificate of the enterprise, except in cases of force majeure or other objective obstacles preventing the person requested from coming to explain.

2. If the legal representative of the auction enterprise comes to explain, the Department of Justice of the province or centrally-administered city where the auction enterprise is registered shall be responsible for coordinating with relevant state management agencies, units, and organizations to examine the content of the explanation and determine whether the auction enterprise falls under the category of enterprises whose Business Registration Certificates should be revoked within ten working days from the date of receipt of the explanation content, and shall proceed as follows:

a) The Department of Justice shall not revoke the Business Registration Certificate of the auction enterprise and shall notify in writing the auction enterprise and the competent state agency that requested the revocation within three working days from the date of determining that the auction enterprise does not fall under the category of enterprises whose Business Registration Certificates were requested to be revoked or if the competent authority has a document requesting not to revoke the Business Registration Certificate of the enterprise.

b) The Department of Justice shall revoke the Business Registration Certificate of the auction enterprise within three working days from the date of rejecting the content of the explanation and determining that the auction enterprise falls under the category of enterprises whose Business Registration Certificates should be revoked.

Article 4. Responsibilities of the competent authority proposing to revoke the Business Registration Certificate for auction enterprises

1. Shall be responsible for the accuracy of the information proposed for revoking the Business Registration Certificate for auction enterprises.

2. Shall coordinate with the Department of Justice of the province or centrally administered city where the auction enterprise is registered to operate during the process of reviewing explanations and determining whether the auction enterprise falls under or does not fall under the circumstances subject to revocation of the Business Registration Certificate for auction enterprises.

Chapter III

NATIONAL AUCTION PORTAL, AUCTION INFORMATION WEBSITE

ONLINE AUCTION

Article 5. Requirements and conditions for the National Auction Portal and online auction information website

1. Requirements

a) Transparency, unrestricted access and availability of information;

b) Time on the National Auction Portal and online auction information website shall be real-time and synchronized with international standards (GMT) during online auctions;

c) Stable and continuous operation and must ensure the security of the information system;

d) Ensure the safety and confidentiality of information of participants in auctions, access accounts;

đ) Meet infrastructure technical requirements and information technology standards for connection, integration, and data sharing through a data integration and sharing platform;

e) Meet technical infrastructure, physical facilities, and necessary human resources requirements for operating the National Auction Portal and online auction information website.

c) For some special areas, the participation period of civilian workers may be earlier or later than the above periods as specified by the Minister of Defense.

a) Reach Level 3 according to the legal provisions on ensuring the security level of the information system;

b) Ensure that each individual or organization can register only one account to participate in auctions and bidding;

c) Ensure that bids and displayed bid prices are shown by unique identification numbers of the participants;

d) Publicly display the registration time for participating in auctions, the login time for participating in auction sessions, the start and end times of auction sessions;

đ) Publicly and truthfully display each bid, bid price of participants according to their unique identification numbers, highest bid price; record and retrieve all information about the auction and auction session;

e) Continuously display the starting price of the auctioned asset, the highest bid price for upward bidding methods, and the price equal to the starting price or the lowest reduced price for downward bidding methods throughout the auction session so that participants can view them;

g) Ensure that participants cannot submit auction participation applications after the application submission deadline and cannot make bids after the auction completion deadline.

Article 6. Evaluation and Approval of Online Auction Information Websites

1. Auction enterprises, organizations wholly owned by the State with 100% capital contribution established by the State Bank of Vietnam to handle non-performing loans of credit institutions shall directly send or send via postal service a written request for approval of the online auction information website along with one Project Proposal for building the online auction information website to the Department of Justice of the province or centrally administered city where the auction enterprise or the organization wholly owned by the State with 100% capital contribution established by the State Bank of Vietnam to handle non-performing loans of credit institutions has its headquarters. The Project Proposal for building the online auction information website must describe the requirements and conditions of the online auction information website stipulated in Article 5 of this Decree.

2. The Director of the Department of Justice shall decide to establish an Evaluation Board for the online auction information website and issue regulations on the operation of the Evaluation Board; the members of the Evaluation Board include representatives from the Department of Justice as Chairperson of the Board, representatives from related agencies and organizations, experts with qualifications and experience in the field of asset auctions and information technology. Related agencies and organizations have the responsibility to appoint persons to participate in the Evaluation Board at the proposal of the Department of Justice.

3. The Evaluation Board shall be responsible for evaluating the conditions stipulated in Clause 2 of Article 5 of this Decree; the feasibility and effectiveness of the Project when put into operation to meet the requirements stipulated in Clause 1 of Article 5 of this Decree.

4. Within ninety days from the date of receiving a valid Project Proposal as stipulated in Clause 1 of this Article, the Director of the Department of Justice shall examine and approve the online auction information website; in case of rejection, a written notification shall be issued stating the reasons.

5. The Department of Justice shall publish a list of auction enterprises with approved online auction information websites on the Department of Justice's Electronic Information Portal and send it to the Ministry of Justice for publication on the National Auction Portal.

Article 7. Suspension of Online Auction Activities

1. Annually or in exceptional cases, the Ministry of Justice, the Department of Justice of provinces and centrally governed cities where auction service providers operate, and organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions shall inspect the management and operation of online auction information websites built by such auction service providers and organizations (hereinafter referred to as organizations with online auction information websites).

2. In case the online auction information website does not meet the requirements and conditions stipulated in Article 5 of this Decree, the Ministry of Justice shall issue a document requesting the organization with the online auction information website to upgrade the online auction system. The request document issued by the Ministry of Justice under this clause shall be simultaneously sent to the Department of Justice of the province or centrally governed city where the organization with the online auction information website has its headquarters. The organization with the online auction information website shall be responsible for upgrading the online auction system within ninety days from the date of receipt of the request.

During the period of upgrading the online auction system, the organization with the online auction information website shall not use the online auction information website to organize online auctions.

3. If, after the deadline specified in Clause 2 of this Article, the online auction information website still fails to meet the requirements and conditions stipulated in Article 5 of this Decree, the Director of the Department of Justice of the province or centrally governed city shall consider suspending the online auction activities on the online auction information website approved by the Director of the Department of Justice according to the provisions of Government Decree No. 62/2017/NĐ-CP dated May 16, 2017 detailing certain articles and implementing mechanisms of the Auction Law and this Decree.

Article 8. Responsibilities of the Ministry of Justice, Organizations Operating the National Auction Portal, and Organizations with Online Auction Information Websites

1. Responsibilities of the Ministry of Justice:

a) To take the lead in building and promulgating the Project to build the National Auction Portal, including the online auction function;

b) To manage and guide the use of the National Auction Portal; maintain, repair, and upgrade the online auction system to ensure compliance with the requirements and conditions stipulated in Article 5 of this Decree;

c) To store information for state management purposes and other tasks as prescribed by law;

d) To perform other tasks related to auctions as assigned by the Government;

2. Responsibilities of organizations with online auction information websites in building, managing, and operating their online auction information websites:

a) To build, manage, and operate their own online auction information websites; ensure direct data sharing during auction sessions with the National Auction Portal; bear technical responsibility for online auctions conducted on their online auction information websites;

b) To establish a security level proposal for the information system in accordance with the provisions of Article 5 of this Decree;

c) To protect information about auction participants, access accounts, except as otherwise provided by law;

d) To compensate for damages caused by errors made during the operation of the online auction information website in accordance with the law;

đ) To promulgate, guide, and publish on the online auction information website the procedures for account registration, account usage, bidding methods, auction formats, bid increments, deadlines for registering to participate in auctions, deadlines for accessing accounts to attend auction sessions, start and end times for bidding, auction sessions, and the announcement of auction results on the online auction system;

e) To maintain, repair, and upgrade the online auction system to ensure compliance with the requirements and conditions stipulated in Article 5 of this Decree.

3. Responsibilities of organizations operating the National Auction Portal:

a) To ensure information security, cybersecurity, and database confidentiality of the National Auction Portal; prevent unauthorized and illegal access; manage information security and cybersecurity risks, and have mechanisms to record and trace the origin of information over time, activities on the National Auction Portal;

b) To build the online auction function to meet the requirements and conditions stipulated in Article 5 of this Decree;

c) To only use information about auctions and other information on the National Auction Portal for purposes within the functions and responsibilities of the organization operating the National Auction Portal;

d) To provide guidance services for asset owners, auction service providers, and auction participants to conduct online auctions and register and post information on the National Auction Portal;

đ) To publicly announce the infrastructure technology conditions required for users when participating in online auctions on the National Auction Portal;

e) To fulfill other responsibilities as prescribed by the Auction Law, the Law Amending and Supplementing Certain Provisions of the Auction Law, this Decree, and other relevant laws.

4. Organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions may only use their online auction information websites to organize online auctions for non-performing assets and collateral securing non-performing debts in accordance with the law.

Article 9. Responsibilities of auction service organizations, Auction Councils, and organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions when using online auction information platforms.

1. Equip infrastructure for information technology to meet the requirements for organizing online auctions.

2. Manage and secure information about participants in the auction, accounts, and passwords issued, except where otherwise provided by law. In case of loss or discovery of unauthorized use of their account, they must immediately notify the organization operating the online auction information platform.

3. Bear legal responsibility for the accuracy and honesty of the information registered and posted on the online auction information platform upon logging in with their access account; and the results of the online auction conducted by them.

4. Cease organizing auctions through the online auction method, stop the online auction, and immediately inform the person who decides the time for reorganizing the auction if the auction cannot start due to technical errors in the online auction system or if participants cannot bid; inform the person who owns the asset to cancel the online auction if participants cannot place valid bids or if the system fails to record valid bids or records incorrect bidding times due to technical errors in the online auction system.

5. Comply with the provisions of the Auction Law, the Law Amending and Supplementing Certain Provisions of the Auction Law, and other relevant laws.

Article 10. Responsibilities of participants in the National Auction Portal and online auction information platforms.

1. Ensure their equipment when participating in auctions; bear responsibility in cases where technical issues with their network prevent them from participating in the auction or placing bids.

2. Manage and secure their account and password. In case of loss or discovery of unauthorized use of their account, they must immediately notify the auction service organization, Auction Council, or wholly state-owned organization established by the State Bank of Vietnam to handle non-performing loans of credit institutions that issued the account and password.

3. Bear legal responsibility for the accuracy and honesty of the information registered and posted upon logging in with the issued account.

4. Comply with the provisions of the Auction Law, the Law Amending and Supplementing Certain Provisions of the Auction Law, other relevant laws, and the Auction Rules.

Chapter IV

PROCEDURE AND PROCEDURES FOR ONLINE AUCTIONS

Article 11. Procedure for organizing auctions through the online auction method.

1. Participants purchase auction invitation documents and register an access account on the National Auction Portal or online auction information website.

Participants use the access account to be guided on how to purchase documents, submit auction participation documents online, pay the deposit, participate in the auction, bid, and other necessary contents when participating in the online auction on the National Auction Portal or online auction information website.

2. Participants who submit valid auction participation documents and deposits are allowed to use the access account to attend the auction session according to the Auction Rules.

Qualified participants have the responsibility to log into the assigned account to check-in for the auction session at the time specified in the Auction Rules. Qualified participants bid using a unique code.

If a qualified participant does not log into the assigned account to check-in at the time specified in the Auction Rules, it will be considered as not attending the auction session stipulated in Point a Clause 6 Article 39 of the Auction Law, except in cases of force majeure.

3. The bidding time for the auction session is agreed upon by the auction service organization and the owner of the auctioned asset but must be at least 15 minutes. If the highest bidder withdraws their bid within one minute before the end of the auction session, the bidding time will be extended by three minutes after the end of the auction session.

4. The auction service organization assigns auction officers, the Auction Council, and wholly state-owned organizations established by the State Bank of Vietnam to handle non-performing loans of credit institutions assign members to manage the auction session on the National Auction Portal or online auction information website. At the end of the auction session, the determination of the successful bidder is carried out as follows:

a) In the case of bidding by increasing bids, the successful bidder is the person with the highest bid recorded by the online auction system;

b) In the case of bidding by decreasing bids, the successful bidder is the first person to accept the starting price or reduced price recorded by the online auction system.

The code number of the successful bidder and the winning bid price specified in Points a and b Clause 4 of this Article are published on the National Auction Portal or online auction information website immediately after the end of the auction session.

5. The results of the online auction are publicly announced on the National Auction Portal or online auction information website and sent to the email address of the participant registered with the auction service organization, Auction Council, or wholly state-owned organization established by the State Bank of Vietnam to handle non-performing loans of credit institutions after the code number of the successful bidder and the winning bid price are published on the National Auction Portal or online auction information website.

Article 12. Notification of Auction Results

1. The auction organization, the Auction Council, and organizations wholly owned by the State established by the State Bank of Vietnam to handle non-performing loans of credit institutions shall immediately notify the successful bidder of the auction results upon completion of the auction.

2. The notification must clearly state information about the auctioned asset, the start and end times of bidding, the time when the online auction system records the winning bid code, the initial price of the auctioned asset, and the winning bid price.

Article 13. Auction Record

The online auction record must be prepared at the end of the auction session and must record the start time of the auction session, the start time of bidding, the end time of bidding, the number of participants, the winning bid price, and the winner. The auction session log recorded by the online auction system must be extracted, confirmed by the operator of the National Property Auction Portal or the auction organization operating the online auction information page, and attached to the auction record.

The use of digital signatures in the online auction record shall be carried out in accordance with the provisions of the Law on Electronic Transactions. The online auction record extracted from the National Property Auction Portal or the online auction information page shall follow the form issued by the Minister of Justice.

Chapter V

BIDDING AND ACCEPTANCE OF PRICE IN AUCTION OF USE RIGHTS

RADIO FREQUENCY

Section 1

SELECTION OF BIDDING AND ACCEPTANCE METHODS

Article 14. Selection of Bidding and Acceptance Methods

1. The bidding method prescribed in Clause 2 of Article 42 of the Auction Law, amended and supplemented by Clause 26 of Article 1 of the Law Amending and Supplementing Certain Provisions of the Auction Law, shall be applied when auctioning a block of frequency bands.

2. The bidding and acceptance methods prescribed in Section 2 of this Chapter shall be applied when auctioning one or more frequency bands, where each frequency band has two or more blocks of frequency bands of equal width and continuous.

3. The bidding method prescribed in Section 3 of this Chapter shall apply to cases not covered by Clauses 1 and 2 of this Article.

Section 2

BIDDING AND ACCEPTANCE OF PRICE IN TWO STAGES

Article 15. Method of Bidding and Acceptance of Price

1. The two-stage bidding and acceptance method prescribed in Point b of Clause 1 of Article 59 of the Auction Law, amended and supplemented by Clause 38 of Article 1 of the Law Amending and Supplementing Certain Provisions of the Auction Law, shall be implemented simultaneously for all blocks of frequency bands.

2. The stage of determining the number of blocks of frequency bands won includes rounds of price acceptance prescribed in Article 16 of this Decree and rounds of bidding prescribed in Article 17 of this Decree.

3. The stage of determining the position of the blocks of frequency bands won includes one round of bidding conducted after the conclusion of the stage of determining the number of blocks of frequency bands won.

4. At the first auction:

a) The auction will not continue if the total number of blocks of frequency bands registered for purchase in the participation documents for one of the frequency bands being auctioned is less than or equal to the number of blocks of frequency bands being auctioned for that frequency band;

b) The auction session will not continue if, in the first round of price acceptance, the total number of blocks of frequency bands registered for purchase for one of the frequency bands being auctioned is less than or equal to the number of blocks of frequency bands being auctioned for that frequency band.

5. At the re-auction of blocks of frequency bands not auctioned as prescribed in Clause 4 of this Article or blocks of frequency bands already auctioned but not successful, the re-auction shall be conducted in accordance with the provisions of Articles 16, 17, 18, 19, and 20 of this Decree.

The Minister of Information and Communications shall decide whether to apply or not apply the provisions of Points a and b of Clause 4 of this Article in the auction organization plan when organizing auctions as prescribed in this clause.

Article 16. Rounds of price acceptance during the phase of determining the quantity of frequency blocks won in the auction

1. The price of a frequency block of a frequency band at each round of price acceptance (hereinafter referred to as the price of the round of price acceptance) shall be determined as follows:

a) At the first round of price acceptance, the price of the round of price acceptance equals the starting price of a frequency block of a frequency band prescribed in the Auction Regulation;

b) From the second round of price acceptance onwards:

In the case of auctioning one frequency band, the price of the round of price acceptance equals the price of the immediately preceding round of price acceptance plus one price step.

In the case of auctioning two or more frequency bands: for the frequency band with the total number of blocks registered for purchase at the immediately preceding round of price acceptance being greater than the number of frequency blocks up for auction, the price of the round of price acceptance of that frequency band equals the price of the immediately preceding round of price acceptance plus one price step; for the frequency band with the total number of blocks registered for purchase at the immediately preceding round of price acceptance being less than or equal to the number of frequency blocks up for auction, the price of the round of price acceptance of that frequency band equals the price of the immediately preceding round of price acceptance.

2. At each round of price acceptance, participants in the auction register the quantity of frequency blocks they wish to purchase at the price of the round of price acceptance as follows:

a) In the case of auctioning one frequency band:

At the first round of price acceptance, the quantity of frequency blocks registered for purchase must equal the quantity of frequency blocks registered for purchase in the bidding participation dossier.

From the second round of price acceptance onwards, the quantity of frequency blocks registered for purchase does not exceed the quantity of frequency blocks registered for purchase at the immediately preceding round of price acceptance.

b) In the case of auctioning two or more frequency bands:

At the first round of price acceptance, the quantity of frequency blocks registered for purchase in each frequency band must equal the quantity of frequency blocks registered for purchase in the bidding participation dossier for that frequency band.

From the second round of price acceptance onwards, participants in the auction have the right to change the quantity of frequency blocks registered for purchase in each frequency band but it does not exceed the quantity of frequency blocks registered for purchase in the bidding participation dossier for that frequency band and the total points of all frequency blocks registered for purchase at the round do not exceed the total points of all frequency blocks registered for purchase at the immediately preceding round.

The points of the frequency blocks specified herein are determined according to one or several factors regarding the width of the frequency block, the starting price, and the similarity in wave transmission characteristics of the frequency bands decided by the Minister of Information and Communications in the auction organization plan.

3. After each round of price acceptance, the auctioneer announces the total quantity of frequency blocks registered for purchase in each frequency band and informs each participant in the auction the total points of all frequency blocks registered for purchase at that round by that person.

4. The final round of price acceptance is the round where the total quantity of frequency blocks registered for purchase in each frequency band is less than or equal to the number of frequency blocks up for auction in that frequency band.

5. The quantity of frequency blocks won in the auction for each frequency band by a participant in the auction is the quantity of frequency blocks registered for purchase at the final round of price acceptance.

Article 17. Round of bidding during the phase of determining the quantity of frequency blocks won in the auction

1. The round of bidding prescribed in this Article shall only be conducted when, at the final round of price acceptance, the total quantity of frequency blocks registered for purchase of one of the frequency bands is less than the number of frequency blocks up for auction in that frequency band.

2. The quantity of frequency blocks up for auction in each frequency band at the round of bidding prescribed in this Article is the remaining quantity of frequency blocks after the final round of price acceptance.

3. Only those who participated in the immediately preceding round of price acceptance before the final round of price acceptance may participate in bidding and register one or more purchase plans for frequency blocks as prescribed in Clause 4 of this Article.

4. A purchase plan for frequency blocks must specify the quantity of frequency blocks registered for purchase in each frequency band and the corresponding bid price according to the following provisions:

a) In the case of auctioning one frequency band:

The bid price for one frequency block must be greater than or equal to the price of the final round of price acceptance.

The quantity of frequency blocks registered for purchase does not exceed the quantity of frequency blocks prescribed in Clause 2 of this Article.

The quantity of frequency blocks registered for purchase plus the quantity of frequency blocks registered for purchase at the final round of price acceptance does not exceed the quantity of frequency blocks registered for purchase at the immediately preceding round of price acceptance before the final round of price acceptance.

b) In the case of auctioning two or more frequency bands:

The bid price for one frequency block for each frequency band must be greater than or equal to the price of the final round of price acceptance corresponding to that frequency band.

The quantity of frequency blocks registered for purchase in each frequency band does not exceed the quantity of frequency blocks prescribed in Clause 2 of this Article.

The quantity of frequency blocks registered for purchase in each frequency band plus the quantity of frequency blocks registered for purchase at the final round of price acceptance of that frequency band does not exceed the quantity of frequency blocks registered for purchase in the bidding participation dossier for that frequency band.

The total points of the frequency blocks registered for purchase plus the total points of the frequency blocks registered for purchase at the final round of price acceptance do not exceed the total points at the immediately preceding round of price acceptance before the final round of price acceptance.

5. The auctioneer determines the combinations of frequency blocks registered for purchase from the purchase plans for frequency blocks of the participants in the auction. The combination with the highest total quantity of frequency blocks registered for purchase and the total quantity of frequency blocks registered for purchase in each frequency band not exceeding the quantity of frequency blocks prescribed in Clause 2 of this Article is the winning combination of frequency blocks for all participants in the auction.

In the case where there are two or more combinations with the highest total quantity of frequency blocks registered for purchase and the same quantity, the combination with the highest total bid price is the winning combination of frequency blocks for all participants in the auction.

In the case where there are two or more combinations with the highest total quantity of frequency blocks registered for purchase and the same quantity and the same highest total bid price, the auctioneer organizes a draw to determine the winning combination of frequency blocks for all participants in the auction.

6. The quantity of frequency blocks won in the auction at each frequency band by a participant in the auction is the quantity of frequency blocks registered for purchase in the winning combination of frequency blocks for all participants in the auction prescribed in Clause 5 of this Article.

Article 18. Determination of the Quantity of Frequency Blocks Won in the Stage of Determining the Quantity of Frequency Blocks Won

The quantity of frequency blocks won by the successful bidder at each frequency band is the total of the quantity of frequency blocks specified in Clause 5, Article 16 of this Decree and the quantity of frequency blocks specified in Clause 6, Article 17 of this Decree.

Article 19. Auction Rounds for the Stage of Determining the Position of Frequency Blocks Won

1. The positions of remaining frequency blocks (if any) after the stage of determining the quantity of frequency blocks won shall be decided by the Minister of Information and Communications in the auction organization plan.

2. Auction rounds shall be conducted for each frequency band when there are two or more successful bidders as follows:

a) The auctioneer determines the combinations of arranging the positions of frequency blocks won by all successful bidders based on the quantity of frequency blocks won at the stage of determining the quantity of frequency blocks won according to the principle that the frequency blocks of each successful bidder are continuous;

b) Participants bid for the position of their frequency blocks won according to each combination. The bid price must be greater than or equal to 0 (zero) Vietnamese Dong. In case participants do not bid, it will be considered as bidding with 0 (zero) Vietnamese Dong;

c) The auctioneer determines the total amount of money bid by all participants for each combination;

d) The combination with the highest total bid price is the combination of positions of frequency blocks won by all successful bidders.

In case there are two or more combinations with the highest total bid price and they are equal, the auctioneer shall organize a draw to determine the combination of positions of frequency blocks won by all successful bidders.

Article 20. Determination of the Winning Bid Price

The winning bid price of each successful bidder at each frequency band is determined according to the following formula:

T = A x M + B x N + P

Where:

d.1. Amount of taxable income in Vietnam: where T is the winning bid price;

A A is the quantity of frequency blocks won specified in Clause 5, Article 16 of this Decree;

Briefly describe technical improvements, production processes, raw materials, designs; new technology applications such as automation, digitalization, clean technology; management, marketing, distribution solutions; products winning awards or certifications related to innovation…):… M is the final acceptance price round;

B is the quantity of frequency blocks won specified in Clause 6, Article 17 of this Decree. B P equals 0 (zero) in the case where the total number of frequency blocks registered for purchase in the final acceptance price round equals the quantity of frequency blocks up for auction in that frequency band;

N ||| P is the price paid for one frequency block by the participant in the combination of frequency blocks won by all participants specified in Clause 5, Article 17 of this Decree;

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below: P is the price paid by the participant in the combination of positions of frequency blocks won by all successful bidders specified in Point d, Clause 2, Article 19 of this Decree.

Section 3

BIDDING BASED ON THE QUANTITY OF FREQUENCY BLOCKS REGISTERED FOR PURCHASE

Article 21. Bidding Method

1. The method of bidding based on the quantity of frequency blocks registered for purchase stipulated in Point c, Clause 1, Article 59 of the Auction Law amended and supplemented according to Clause 38, Article 1 of the Law Amending and Supplementing Certain Provisions of the Auction Law shall be implemented simultaneously and in multiple rounds for all frequency blocks.

2. At the first auction session:

a) The auction shall not continue if the total number of frequency blocks registered for purchase in the bidding participation dossier is less than or equal to the quantity of frequency blocks up for auction;

b) The auction session shall not continue if in the first auction round, the total number of frequency blocks registered for purchase is less than or equal to the quantity of frequency blocks up for auction.

3. At the rescheduled auction sessions for frequency blocks not auctioned according to Clause 2 of this Article or frequency blocks that did not sell, the rescheduled auction shall be carried out according to the provisions of Articles 22, 23, and 24 of this Decree.

The Minister of Information and Communications decides in the auction organization plan whether to apply or not to apply the provisions of Points a and b, Clause 2 of this Article when organizing auctions according to the provisions of this Article.

Article 22. Auction Rounds

1. Starting price for each auction round for each frequency band block:

a) The starting price for the first auction round is the starting price of each frequency band block as stipulated in the Auction Regulations;

b) The starting price for auction rounds from the second round onwards is the highest bid price from the immediately preceding auction round.

In case there is no bidder at the immediately preceding auction round but at least one bidder has made a bid in previous rounds without switching to another frequency band block, the starting price for the next auction round will be the highest bid price among those who have not switched to another frequency band block; if all such bidders switch to bidding on another frequency band block, the starting price for the next auction round will be the starting price stipulated in the Auction Regulations.

2. Bidders are entitled to bid on any frequency band block according to the following provisions:

a) In the first auction round, the number of frequency band blocks that a bidder bids on must equal the number of frequency band blocks registered for purchase in the bidding participation dossier;

b) The bid price for each frequency band block must be the starting price of that frequency band block plus an integer multiple of the bid increment (starting from zero for the first auction round and from one for subsequent rounds), and must be higher than the highest bid price previously made by the bidder for that frequency band block by at least one bid increment;

c) From the second auction round onwards, the total score of frequency band blocks of a bidder at the end of the auction round shall not exceed the total score of frequency band blocks of that bidder determined according to Clause 2, Article 24 of this Decree.

3. At the end of each auction round, the auctioneer announces the highest bid price for each frequency band block, informs each bidder of their total score of frequency band blocks for the next auction round, and identifies the frequency band blocks where the bidder is the highest bidder (if applicable).

4. The auction session ends when no one continues to bid. The highest bidder at the immediately preceding round before the final auction round is declared the successful bidder.

Article 23. Determination of the Highest Bidder for Each Frequency Band Block

The determination of the highest bidder for each frequency band block in each auction round is carried out as follows:

1. If there is a bidder, the person with the highest bid price among the bidders is determined as the highest bidder. If two or more bidders have the same highest bid price, the auctioneer conducts a draw to determine the highest bidder.

2. If no one bids and the highest bidder at the immediately preceding auction round does not switch to bidding on another frequency band block, this person continues to be determined as the highest bidder.

3. If no one bids and the highest bidder at the immediately preceding auction round switches to bidding on another frequency band block, the person with the highest bid price among those who have bid on this frequency band block in previous rounds without switching to another frequency band block is determined as the highest bidder; if two or more bidders have the same highest bid price, the auctioneer conducts a draw to determine the highest bidder.

Article 24. Point of Frequency Band Block

1. The point of frequency band block shall be determined based on one or more factors including the width of the frequency band block, the starting price, and the similarity in wave transmission characteristics of the frequency bands as decided by the Minister of Information and Communications in the auction organization plan.

2. The total number of points of frequency band blocks at the end of each round of bidding for the bidder shall be calculated as follows:

Article 24_n = A + B

Where:

n where A is the sequence number of the bidding round;

Article 24_n B is the total number of points of frequency band blocks at the end of the bidding round n of the bidder;

A C is the total number of points of frequency band blocks that the bidder is the highest bidder at the bidding round n-1 but does not transfer to bid for other frequency band blocks at the bidding round n; A = 0 at the first bidding round;

B D is the total number of points of frequency band blocks that the bidder bids at the bidding round n, excluding frequency band blocks that the bidder is the highest bidder at the bidding round n-1 and continues to bid for that frequency band block at the bidding round n.

3. From the second bidding round onwards, the total number of points of frequency band blocks at the bidding round of the bidder shall be calculated as follows:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_n = Q_n-1 ĐMT

Where:

n where A is the sequence number of the bidding round;

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_n where Q is the total number of points of frequency band blocks at the bidding round n of the bidder;

Article 24_n-1 B is the total number of points of frequency band blocks at the end of the bidding round n-1 of the bidder as stipulated in Clause 2 of this Article;

C R is the total number of points of frequency band blocks that the bidder is determined to be the highest bidder at the bidding round n-1 as stipulated in Clause 3 of Article 23 of this Decree; C R equals 0 (zero) at the first bidding round and the second bidding round.

Chapter VI

HANDLING VIOLATIONS OF THE AUCTION WINNER FOR LAND USE RIGHTS

IN CASES OF ASSIGNING LAND, LEASING LAND FOR IMPLEMENTATION OF INVESTMENT PROJECTS, MINERAL EXPLORATION RIGHTS

1. In cases of assigning land, leasing land for implementation of investment projects, mineral exploration rights, if the auction winner violates the obligation to pay the auction price leading to the auction result recognition decision being revoked, depending on the nature and severity of the violation, they will be prohibited from participating in auctions for such assets as follows:

Article 25. Forms of Violation Handling

a) Prohibited from participating in auctions for two to five years in cases where the auction winner fails to pay the auction price;

b) Prohibited from participating in auctions for six months to three years in cases where the auction winner pays the auction price incompletely.

2. Within ten days from the date of issuance of the decision revoking the decision recognizing the auction result for land use rights in cases of assigning land, leasing land for implementation of investment projects, mineral exploration rights, the competent authority deciding the prohibition from participating in auctions shall examine and issue a decision prohibiting participation in auctions for the auction winner for such assets according to Clause 1 of this Article.

3. The decision prohibiting participation in auctions includes the following contents:

a) Name of the competent authority;

b) Name of the organization or individual prohibited;

c) Duration of prohibition;

d) Scope of prohibition;

e) Effectiveness: effective date and expiration date.

4. Within seven working days from the date of issuance of the decision prohibiting participation in auctions, the competent authority deciding the prohibition from participating in auctions shall have the responsibility to send the decision prohibiting participation in auctions to the organization or individual subject to handling and related agencies and organizations; simultaneously sending it to the Ministry of Justice and must publish it on the National Auction Property Portal.

5. In case the organization or individual prohibited from participating in auctions disagrees with the decision prohibiting participation in auctions, they have the right to lodge a complaint or file a lawsuit with the court in accordance with the law.

5. In case organizations or individuals prohibited from participating in the auction do not agree with the decision to prohibit participation in the auction, they have the right to lodge complaints or bring lawsuits before the人民法院根据法律规定有权对禁止参与拍卖的组织或个人不服禁令决定的情况进行申诉或提起诉讼。由于提供的文本要求使用标准英文法律术语，此处应翻译为：5. Where organizations or individuals prohibited from participating in the auction do not agree with the decision to prohibit participation in the auction, they have the right to lodge complaints or bring actions before the court in accordance with the provisions of the law.

Article 26. Statute of Limitations for Handling Violations

The statute of limitations for handling violations against successful auction bidders as stipulated in Article 25 of this Decree is one year from the date of issuance of the decision to cancel the decision recognizing the auction results.

Chapter VII

IMPLEMENTING PROVISIONS

Article 27. Transitional Provisions

1. In cases where the property auction service organization has submitted a valid implementation plan for online auction forms in accordance with Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law before this Decree takes effect, the Department of Justice of the province or centrally-administered city shall continue to review the conditions and approve the organization's eligibility to implement online auction forms in accordance with Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law.

2. In cases where the property auction service organization has submitted a project to build an online auction information website to the Ministry of Justice in accordance with Decree No. 47/2023/NĐ-CP dated July 3, 2023 of the Government amending and supplementing Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law before this Decree takes effect but has not yet been reviewed and approved, the Ministry of Justice shall transfer the project of the property auction service organization to the Department of Justice of the province or centrally-administered city where the organization has its headquarters to carry out the review of conditions for the online auction information website in accordance with Decree No. 47/2023/NĐ-CP dated July 3, 2023 of the Government amending and supplementing Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law and approve the project within ninety days from the date of receipt of the project.

3. Property auction service organizations that have been approved to meet the conditions to implement online auction forms under Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law or have an online auction information website that has been approved under Decree No. 47/2023/NĐ-CP dated July 3, 2023 of the Government amending and supplementing Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law must complete maintenance, repair, and upgrade of the online auction system to meet the requirements and conditions specified in Article 5 of this Decree and report the results to the Ministry of Justice and the Department of Justice of the province or centrally-administered city that has approved them before January 1, 2026.

Article 28. Effective Date

1. This Decree takes effect from January 1, 2025.

2. This Decree replaces Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law and Decree No. 47/2023/NĐ-CP dated July 3, 2023 of the Government amending and supplementing Decree No. 62/2017/NĐ-CP dated May 16, 2017 of the Government detailing certain provisions and measures to implement the Auction Law.

Article 29. Responsibility for Implementation

The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of provincial and centrally governed city People's Committees are responsible for implementing this Decree.