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LAW OF THE KYRGYZ REPUBLIC

of April 17, 2018 No. 40

About warehouses and warehouse certificates

Accepted by Jogorku Kenesh of the Kyrgyz Republic on March 7, 2018

Article 1. Subject of regulation of this Law

1. This Law establishes legal and organizational operating conditions of activities of the warehouses performing warehousing agricultural and the processed agricultural products (further - products) with release (issue) of simple and double warehouse certificates, and also regulates the legal relationship arising in case of release (issue), the address, replacement and repayment of the simple warehouse certificate and double warehouse certificate and its separate parts (the warehouse and mortgage certificate).

2. Warehouses which perform warehousing of products without release (issue) of warehouse certificates do not fall under operation of this Law and perform the activities according to the procedure, provided by the civil legislation of the Kyrgyz Republic.

Article 2. The basic concepts used in this Law

In this Law the following basic concepts and terms are applied:

1) the simple warehouse certificate - not issued security in documentary or paperless form which is the tovarorasporyaditelny document, issued (issued) by warehouse in confirmation of the fact that products are accepted on storage under the agreement of warehousing and will be issued to her bearer. In case of paperless form release (issue) of the warehouse certificate is performed by fixing of the obligatory details provided by the Civil code of the Kyrgyz Republic by means of program technical means;

2) the double warehouse certificate - not issued order security in documentary form which is the tovarorasporyaditelny document, issued (issued) by warehouse in confirmation of acceptance of products on storage under the agreement of warehousing and two-piece: warehouse certificate and mortgage certificate (warrant). Both parts are independent securities;

3) the warehouse certificate - the order security which is part of the double warehouse certificate, certifying the property right to products specified in it;

4) the mortgage certificate ("warrant") - the order security which is part of the double warehouse certificate which certifies that its owner has right to claim of obligation fulfillment, provided with pledge;

5) the holder of the double warehouse certificate - the owner of products which are stored under the agreement of warehousing, the owner of both parts of the double warehouse certificate;

6) the holder of the warehouse certificate - the owner of products which are stored under the agreement of warehousing pledged;

7) the holder of the mortgage certificate - person which is the pawnbroker of products whose rights are certified by the mortgage certificate separated the warehouse certificate;

8) the warehouse issuing (issuing) simple and double warehouse certificates - the legal entity performing warehousing of products with release (issue) of simple and double warehouse certificates and providing the services connected with storage on paid basis;

9) classification of warehouses (And, B, S, D) - the classification based on technical parameters (the usable space, development of infrastructure, including engineering communications, type of floor covering and other parameters) warehouses. General requirements to each class of warehouse are established by the Government of the Kyrgyz Republic;

10) authorized body - the state body performing registration of warehouses and maintaining the unified state register of warehouses;

11) the register of warehouse certificates - the list of data on transactions with warehouse certificates, including issue, repayment, replacement of simple and double warehouse certificates, and also being in pledge of double warehouse certificates which conducts warehouse;

12) the register of products of warehouse - the list of data reflecting accounting of products accepted on storage and issued which conducts warehouse;

13) the unified state register of warehouses - set of data on the registered warehouses in open access on the website of the authorized body performing registration of warehouses (further - the unified state register);

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