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Ministry of Justice

Republic of Uzbekistan

On February 28, 2014 No. 2564

ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of February 17, 2014 No. 9

About approval of the Regulations on procedure for the publication by insurers of the annual financial reporting

(The last edition from 22-02-2016)

According to the laws of the Republic of Uzbekistan "About insurance activity" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 2002, Art. No. 4-5, 68), "About financial accounting" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1996, No. 9, the Art. 142) and in pursuance of the resolution of the President of the Republic of Uzbekistan of July 15, 2013 No. PP-2003 "About approval of plans of development of the normative and legal and other acts directed to realization of referential regulations of the laws" (Collection of the legislation of the Republic of Uzbekistan, 2013, 29, of the Art. 373) I order to No.:

1. Approve Regulations on procedure for the publication as insurers of the annual financial reporting, according to appendix.

2. This order becomes effective from the date of its official publication.

Minister

R. Azimov

Appendix

to the Order of the Minister of Finance of the Republic of Uzbekistan of February 17, 2014 No. 9

Regulations on procedure for the publication insurers of the annual financial reporting

This Provision according to the laws of the Republic of Uzbekistan "About insurance activity" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 2002, Art. No. 4-5, 68), "About financial accounting" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1996, No. 9, the Art. 142) determines form of the annual financial reporting published by insurers, and also procedure and terms of its publication.

Chapter 1.
Form of the annual financial reporting published by insurers

1. The annual financial reporting published by insurers includes:

forms of the annual financial reporting of the insurers constituted according to Rules on filling of forms of the financial reporting of insurers (reg. No. 1945 of April 20, 2009) (Collection of the legislation of the Republic of Uzbekistan, 2009, No. 17, the Art. 217);

the explanatory note with statement of the major factors which affected in reporting year final results of activities of the insurer constituted according to the requirements provided by the National accounting standard of the Republic of Uzbekistan (NSBU No. 1) "Accounting policy and the financial reporting" (reg. No. 474 of August 14, 1998) (The bulletin of regulations of the ministries, state committees and departments of the Republic of Uzbekistan, 1999, No. 5);

the audit opinion constituted by results of obligatory audit inspection.

The insurer, being joint-stock company, publishes the annual financial reporting constituted according to International accounting standards after carrying out its external audit according to International standards of audit.

2. The insurer in addition can publish also other information which is not forbidden by the legislation.

Chapter 2.
Procedure and terms of the publication insurers of the annual financial reporting

3. The insurer publishes the annual financial reporting within fifteen days after the end of obligatory audit inspection, but not later than two weeks before date of annual general meeting of the supreme body of management of the insurer on the official website and in republican printing editions of financial and economic orientation. At the same time the insurer, except for the insurer, being joint-stock company, in printing editions publishes only the following forms of the annual financial reporting (perhaps in the reduced form) with obligatory specifying of the reference to the annual financial reporting published on the official website of the insurer:

The balance sheet - form No. 1 - insurance;

The report on financial results - form No. 2 - insurance.

4. The insurer in case of change of data in the annual financial reporting published by it shall publish within five working days the changed annual financial reporting with obligatory specifying of the changed data, the reasons of changes, and also data on recognition of the invalid earlier published information.

5. The insurer within five working days after the publication him shall provide to the annual financial reporting (changed the annual financial reporting) according to Items 3 and 4 of this Provision to the Ministry of Finance of the Republic of Uzbekistan the copy of the corresponding printing edition.

Chapter 3.
Final provisions

6. The insurer bears responsibility for completeness and reliability of the annual financial reporting published by him.

7. Persons guilty of violation of requirements of this Provision bear responsibility according to the procedure, established by the legislation.

 

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