Regulations of the Supreme People’s Court on Properties Auctioned and Realized in the Process of Civil Execution by People’s Courts
Title: Regulations of the Supreme People’s Court on Properties Auctioned and Realized in the Process of Civil Execution by People’s Courts Promulgating Organ: The Supreme People’s Court Date of Promulgation: November 15, 2004 Date of Implementation: January 1, 2005 Applicable Scope: Properties are auctioned and realized in the process of civil execution by people’s courts. Major Contents: It is prescribed in the Regulations that the measure of auction shall be adopted when a people’s court handles properties attached, distressed and blocked at the present price, with exception of the extra provisions of laws and judicial explanation. It is also stipulated that reserved prices shall be determined when an auction is carried out. It is still prescribed that an advance declaration shall be make before a auction. |
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