Decree regulating the processes, procedures for establishing the all-people ownership of property and disposal of property eligible for the established all-people ownership.

This Decree elaborates on: a) Authority to make decisions, processes and procedures for establishing the all-people ownership of property, stipulated in clauses 2, 3, 4 and 5 of Article 106 in the Law on Management and Use of Public Property. b) Disposal of property eligible for the established all-people ownership.
Article 4 sets up the principles of establishment of the all-people ownership of property, management and disposal of property eligible for the established all-people ownership, including: 1.The establishment of the all-people ownership of property must be documented; must strictly conform to the processes and procedures prescribed by law on the basis of protecting the interests of the State, respecting the legitimate rights and benefits of organizations and individuals concerned. 2. The state management of property under the all-people ownership shall be carried out uniformly and shall adhere to the principles of clearly assigning tasks and decentralizing authority and responsibilities to specific entities. 3. The valuation and handling of property qualified for the established all-people ownership shall be subject to the market mechanism. 4. The establishment of the all-people ownership of property and disposal of property qualified for the established all-people ownership must be publicly disclosed and must ensure transparency; any violation must be handled on time and strictly in accordance with laws in force.