Ministry of Public Security proposes auction of motorbike license plates, starting price 5 million VND

The Ministry of Public Security is drafting a Decree regulating the auction of vehicle license plates. Notably, the draft has proposed to add content on the auction of license plates of motorbikes and mopeds.

According to the draft, vehicle license plate auctions are conducted online in the network environment; must comply with the provisions of the law on property auctions; ensure confidentiality of access accounts, information about auction participants and other information according to the provisions of law; ensure objectivity, transparency, safety and network security; protect the rights and legitimate interests of property owners, auction participants and related individuals and organizations.

According to the draft, the starting price of a car license plate to be auctioned is 40 million VND. The starting price of a motorcycle license plate to be auctioned is 5 million VND.

The bid step for car license plate auctions is 5 million VND; for motorbike and scooter license plate auctions is 500,000 VND.

According to the draft, the deposit shall be deposited into a separate payment account of the property auction organization opened at a bank from the date of listing the property auction until 2 days before the auction opening date. In case of winning the auction, the deposit shall be transferred to the specialized collection account of the Ministry of Public Security to be paid into the state budget according to regulations.

According to the draft, the Ministry of Public Security will transfer the list of license plates to be auctioned to the property auction organization, and at the same time publicly announce the plan to organize the license plate auction on the Ministry of Public Security's electronic information portal, the Traffic Police Department's electronic information portal, with a link to the online auction information page of the property auction organization.

The asset auction organization shall publicly announce information about the asset auction organization and the list of vehicle license plates to be auctioned on the National Asset Auction Portal or the asset auction organization's online auction information page and post it at its headquarters. The auction regulations shall be posted and publicly announced on the online auction information page and at the headquarters of the asset auction organization.

Time for public announcement and posting of the Auction Regulations and list of license plates to be auctioned at least 30 days before the auction date. The property auction organization publicly announces the number of people registering to participate in the auction of each license plate currently listed.

The draft clearly states the conditions for registration to participate in the auction, the subjects participating in the auction according to regulations (Auction participants are Vietnamese organizations and individuals who are eligible to participate in the auction of vehicle license plates according to the provisions of this Decree and other relevant legal provisions) and pay a deposit to the property auction organization according to regulations. Organizations and individuals registering to participate in the auction are responsible for the accuracy and honesty of the information declaration to register to participate in the auction.

Registration for participation in the auction is done entirely online at the online auction information page of the property auction organization. Auction participants register to participate in the auction and submit registration documents for participation in the auction on the online auction information page;

The draft clearly states that the license plate of the auction winning vehicle will only be issued to the auction winner. The procedure for registering the license plate of the auction winning vehicle will be carried out in accordance with the provisions of the law on vehicle registration.