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| An overview of the meeting__Photo: MOJ |
The Department of Registration of Secured Transactions and State Compensation on August 6 held a meeting with related units under the Ministry of Construction to review and refine provisions on the registration of security interests in aircraft and seagoing vessels, which are set out in a draft decree replacing Decree 99 of 2022.
The meeting was chaired by Le Ve Quoc, Director General of the Department, and attended by representatives of the Ministry of Construction’s Legal Department and the Vietnam Maritime and Waterway Administration.
At the meeting, participants discussed issues arising from the practical implementation of existing regulations on security interests in aircraft and seagoing vessels to ensure that the draft provisions are practical, legally coherent and capable of meeting digital transformation requirements for the registration of these security interests.
To facilitate end-to-end online registration for aircraft and seagoing vessels, they discussed the responsibilities of related units for developing and operating information systems and carrying out administrative procedures in the digital environment. This is considered an important step towards facilitating data access, reducing paperwork and administrative procedures, and improving the quality and efficiency of public servicesin the field.
Regarding the deregistration of secured assets in the database, participants stressed the need to further clarify the responsibility for making deregistration upon the discharge of secured obligations. At the same time, an appropriate mechanism should be adopted to address cases where failure to deregister affects the rights and interests of third parties.
Discussing criteria on search for information on the registration of security interests in seagoing vessels, participants proposed adding vessel names and registration numbers. As not all operating seagoing vessels have IMO numbers, more appropriate search criteria should be introduced to enable the public to access information conveniently and accurately.
Concluding the meeting, Mr. Quoc appreciated the comments from related units under the Ministry of Construction. The results of the meeting would provide a basis for the drafting team to finalise the draft decree, with the aim of developing an end-to-end online registration mechanism for aircraft and seagoing vessels, optimising procedures, protecting the lawful rights and interests of individuals and businesses, and improving the state management of the registration of these security interests, he added.- (VLLF)
