Dossier to apply for a certificate to practice as an asset manager according to the law

What is an administrator? What does the application file for an asset administrator practice certificate include?

1. What is an administrator?

According to the provisions of Clause 7, Article 4 of the Bankruptcy Law 2014, an administrator is defined as follows:

“7. An administrator is an individual who practices the management and liquidation of assets of insolvent enterprises and cooperatives during the bankruptcy process.”

2. Who is not allowed to practice as an asset manager?

Pursuant to Article 14 of the Bankruptcy Law 2014, the regulations on individuals are not allowed to practice asset management and liquidation as follows:

“Article 14. Individuals are not allowed to practice asset management and liquidation

1. Cadres, civil servants, public employees; officers, soldiers Professional workers, defense workers in agencies and units of the People’s Army; officers and professional non-commissioned officers in agencies and units of the People’s Public Security.

2. People who have been convicted but have not had their criminal records erased; people who are being sent to compulsory education facilities or drug rehabilitation facilities.

3 losing civil act capacity or having limited civil act capacity.”

Thus, the following people are not allowed to practice as an asset administrator:

– Officials, civil servants, public employees; officers, professional soldiers, defense workers in agencies and units of the People’s Army; professional officers and non-commissioned officers in agencies and units of the People’s Public Security;

– People who are being prosecuted for criminal liability; people who have been convicted but have not had their criminal records erased; People who are being subjected to administrative measures and sent to compulsory educational establishments or compulsory detoxification establishments;

– People who have lost civil act capacity or have limited civil act capacity.

3. What are the conditions to practice as an asset administrator?

According to Clause 2, Article 12 of the Bankruptcy Law 2014, the conditions for practicing as an asset administrator are specified as follows:

“2. Conditions to practice as an asset administrator:

a) Have full civil act capacity;

b) Have good moral qualities, sense of responsibility, integrity, honesty, and objectivity;

c) Have a certificate to practice as an asset administrator.”

Thus, to practice as an asset administrator, you first need to have a certificate to practice as an asset administrator.

4. Can graduates with a major in accounting be granted a certificate to practice as an asset manager?

According to Clause 1, Article 12 of the 2014 Bankruptcy Law, the conditions for practicing as an asset administrator are stipulated as follows:

“1. The following people are granted certificates of practice as asset administrators:

a) Lawyer;

b) Auditor;

c) People with bachelor’s degrees in law, economics, accounting, finance, banking and 5 years or more experience in the trained field.”

According to the above regulations, a person with a bachelor’s degree in accounting and 5 years or more of experience in the trained field is the person who is granted a certificate to practice as an asset manager.

Thus, if you have graduated with a major in accounting and have 6 years of experience in the profession, you are eligible to be considered for a certificate to practice as an asset manager.

5. What does an application for an asset administrator practice certificate include?

According to Clause 1, Article 4, Decree 22/2015/ND-CP regulates the issuance of certificates of practice as asset managers as follows:

“1. People in the cases specified in Clause 1, Article 12 of the Bankruptcy Law who want to practice asset management and liquidation must prepare a dossier to apply for a certificate to practice as an asset manager. The dossier includes:

a) Application for issuance of a practicing certificate as an asset administrator according to form TP-QTV-01 issued with this Decree;

b) A copy of the lawyer’s card for lawyers; Copy of Auditor Certificate for auditors; photocopy of bachelor’s degree in law, economics, accounting, finance, and banking for people with bachelor’s degrees in law, economics, accounting, finance, and banking;

c) Documents proving at least 05 years of experience in the field of training, certified by the agency or organization where the person with a bachelor’s degree in law, economics, accounting, finance, or banking works;

d) 2 color photos sized 3cm x 4cm.

In case of necessity, the Ministry of Justice requires the applicant for an asset management practice certificate to submit a criminal record card.

Thus, to be granted an asset administrator practice certificate, you need to prepare a set of application documents for an asset administrator practice certificate, including:

– Application for an asset administrator practice certificate according to form TP-QTV-01 issued with Decree 22/2015/ND-CP;

– Photocopy of lawyer card for lawyers; Copy of Auditor Certificate for auditors; Photocopy of bachelor’s degree in law, economics, accounting, finance, banking for people with bachelor’s degrees in law, economics, accounting, finance, banking;

– Documents proving at least 05 years of experience in the field of training with confirmation from the agency or organization where the person with bachelor’s degree in law, economics, accounting, finance, banking works;

– 2 color photos sized 3cm x 4cm.

In case of necessity, the Ministry of Justice may require you to submit a criminal record card.