| THE GOVERNMENT No. 22/2015/ND-CP | THE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness Hanoi, February 16, 2015 |
Decree
Detailing a number of articles of the Law on Bankruptcy regarding asset management officers and asset management and liquidation practice [1]
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the June 19, 2014 Law on Bankruptcy;
At the proposal of the Minister of Justice,
The Government promulgates the Decree detailing a number of articles of the Law on Bankruptcy regarding asset management officers and asset management and liquidation practice.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
1. This Decree details a number of articles of the Law on Bankruptcy regarding asset management officers, asset management and liquidation firms, asset management and liquidation practice, asset management officer and asset management and liquidation firm expenses, and state management of asset management officers and asset management and liquidation firms.
2. This Decree applies to asset management officers, asset management and liquidation firms, state management agencies in charge of asset management officers, asset management and liquidation firms and other organizations and individuals involved in asset management and liquidation practice.
Article 2. Principles of asset management and liquidation practice
1. Compliance with the Constitution and law.
2. Observance of the professional code of ethics of asset management officers.
3. Guarantee of professional independence, honesty, transparency and impartiality.
4. Responsibility before law for practicing activities.
Article 3. Prohibited acts of asset management officers and asset management and liquidation firms
1. Prohibited acts of asset management officers:
a/ Leasing, lending or letting other individuals or organizations use their asset management officer practice certificates for practicing asset management and liquidation;
b/ Soliciting or receiving any sums of money or material benefits from parties involved in bankruptcy procedures or taking advantage of the capacity as asset management officers to earn benefits from individuals and organizations other than receivable asset management officer expenses prescribed by law;
c/ Taking advantage of their duties and powers to act in collusion with other individuals and organizations for self-seeking purposes;
d/ Disclosing information on organization and operation of insolvent enterprises or cooperatives which they know in the course of practice, unless such enterprises or cooperatives give their written consent to disclosure or otherwise provided by law;
dd/ Other acts in contravention of law and the professional code of ethics of asset management officers.
2. Prohibited acts of asset management and liquidation firms:
a/ Colluding with insolvent enterprises or cooperatives to falsify contents related to asset management and liquidation practice;
[1] Công Báo Nos 353-354 (14/3/2015)
