Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of December 14, 2018 No. 1016

About measures for the organization of release of the state treasury obligations and bonds of the Republic of Uzbekistan

According to the resolution of the President of the Republic of Uzbekistan of December 29, 2017 No. PP-3454 "About the forecast of the main macroeconomic indicators and parameters of the Government budget of the Republic of Uzbekistan for 2018", for the purpose of market development of government securities of the republic the Cabinet of Ministers decides:

1. Approve the offer of the Ministry of Finance and Central bank of the Republic of Uzbekistan on implementation since December, 2018 of release into the stream of commerce of the state treasury obligations and bonds (further - government securities) the Republic of Uzbekistan.

2. Determine that:

government securities are provided with all assets which are at the disposal of the Government of the Republic of Uzbekistan;

government securities are issued by the Ministry of Finance of the Republic of Uzbekistan in paperless form and are traded on the securities market of the Republic of Uzbekistan according to the legislation;

placement and repayment of releases of government securities is performed Central banks of the Republic of Uzbekistan (fiscal agent) through trading floor JSC Uzbek Republican Currency Exchange from name and at the expense of means of the Ministry of Finance of the Republic of Uzbekistan;

government securities are placed among commercial banks and legal entities - residents of the Republic of Uzbekistan;

release of government securities is performed by separate releases with the coupon rate (fixed by interest yield) or with "zero" coupon rate (discount bonds);

means from placement of government securities arrive in the Government budget of the Republic of Uzbekistan and go to covering of central government budget deficit of the Republic of Uzbekistan and implementation of actions, the approved parameters of expenses of the Government budget of the Republic of Uzbekistan aimed at the social and economic development of the country, and also implementation of the large investment projects determined by decisions of the President of the Republic of Uzbekistan within.

3. Grant to the Ministry of Finance of the Republic of Uzbekistan the right:

make in the Cabinet of Ministers of the Republic of Uzbekistan offers on limiting amounts of release of government securities in financial year;

determine amount and circulation periods of each release of government securities, frequency of payments and the size of interest income by them depending on environment of the financial market and requirements of the republican budget of the Republic of Uzbekistan, in coordination with the Central bank of the Republic of Uzbekistan;

perform transactions of the redemption of government securities in the secondary market, and also transaction of their early repayment.

4. Approve Regulations on procedure for placement, the address and repayment of releases of government securities of the Republic of Uzbekistan according to appendix.

5. Form in structure of the Ministry of Finance of the Republic of Uzbekistan Management of the market of government securities and relations with financial institutions with the number of staff in number of seven units, within the established total extreme number of managerial personnel of central office of the ministry.

Assign to Management of the market of government securities and relations with financial institutions the following tasks:

development of offers on market development of government securities of the republic, including taking into account the advanced world practice;

the organization together with the Central bank of the Republic of Uzbekistan of release, the address and repayment of government securities, and also planning of the public internal debt of the Republic of Uzbekistan;

implementation of relations with financial institutions, including in the market of government securities, with use of modern corporate management methods.

6. To the Ministry of Finance, the Central bank of the Republic of Uzbekistan together with the interested ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution in a month.

Full text available with active License only!

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.