On July 3, 2023, the Government issued Decree 47/2023/ND-CP (Decree 47) to amend and supplement several articles of Decree 62/2017/ND-CP which details some articles and provides measures for implementation of the Law on Property Auction. Decree 47 will take effect from September 1, 2023, focusing on adjusting the regulations related to online auction such as the order of online auction organization, requirements for online auction information portal, and responsibilities of relevant parties. The following are some highlights:
(i) Amending and supplementing regulations on the form of online auction organization;
(ii) Amending and supplementing the order of online auction organization;
(iii) Supplementing the provisions on responsibilities of participants of the online auction information portal.