Seized/confiscated assets will be sold faster - Draft law for public consultation: AAPSK will carry out the procedures itself
The Agency for the Administration of Sequestered and Confiscated Assets (AAPSK) and the Chief Administrator will carry out the sale procedures for seized and confiscated assets, as well as the subsequent conclusion of the relevant contracts, referring to the law on public auction. In a draft law issued for public consultation by the Ministry of Interior, it is emphasized that AAPSK has significantly developed its institutional, administrative and technical capacities.
In the context of this functional growth, it has been deemed reasonable that the process of selling assets that the agency administers be carried out by the institution itself.
"Given that the full administration of these assets also includes the sales phase, it is reasonable and logical that the same institution that manages them also completes the sales procedures, to guarantee coherence, transparency and unified responsibility at every stage of the process," the draft law states.
According to the document, the involvement of a second institution in the process has, to date, created significant delays in the completion of the sales procedures and the transfer of revenues to the state budget. Carrying out the process by the Agency itself will enable faster asset management, reduction of bureaucracy and increased financial efficiency. Transferring the sales functions to the Agency avoids institutional duplication, reduces administrative costs and enables more efficient use of human and financial resources. Instead of two institutions carrying out consecutive actions for the same process, responsibility is concentrated in a single entity.
There are many known practices where counterpart agencies for the administration of seized and confiscated assets carry out the sales processes themselves, as part of the complete chain of administration. This ensures transparency, traceability and professional management of the full asset cycle from seizure to sale and transfer of proceeds.
According to the drafters, the draft law comes as a result of a comprehensive reform both for the territory, from the efficient use of confiscated illegal constructions, to the good administration of assets such as virtual currencies, which directly affect the increase in state budget revenues and, subsequently, their use for public and social interest.
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