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Friday, June 21, 2024

Amended land law might take effect from August

The Saigon Times

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HCMC – The amended Land Law, Housing Law, and Real Estate Business Law would come into force on August 1 this year, five months earlier than the originally approved date of January 1, 2025, if the National Assembly (NA) approves it at its current seventh sitting.

The Government issued a resolution on May 27, approving a proposal to amend and supplement certain provisions of these laws, as well as the Law on Credit Institutions.

According to the resolution, the Minister of Justice will be delegated authority from the Prime Minister to sign the Government’s proposal asking the NA Standing Committee to review and submit the proposed amendments for consideration and passage during the ongoing NA sitting.

This means the effective date of the laws may be postponed by an additional month, instead of July as previously proposed in Resolution 72 on May 17.

However, these laws will still come into effect five months earlier than the original date of January 1, 2025, as passed by the National Assembly in the previous sitting.

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