Document from CIS Legislation database © 2003-2017 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of April 20, 2017 No. UP-5022

About measures for further expansion of mechanisms of support of economically insolvent companies, and also stimulation of the organization of new production capacities based on real estate objects of commercial banks

For the purpose of creation of additional favorable conditions for the accelerated recovery of activities of the bankrupt companies and the organization of new productions based on the real estate objects accepted in property of commercial banks as a result of non-return of the loans which are earlier granted by them and also financial improvement of economically insolvent companies:

1. Determine that:

commercial banks have the right to create based on the real estate objects accepted in property of commercial banks as a result of non-return of the loans which are earlier granted by them, the new companies from shares of commercial bank and its managing companies in their authorized fund to 100 percent inclusive;

since July 1, 2017, the realization of the bankrupt companies to commercial banks is enabled at the competitive biddings, without carrying out biddings among commercial banks.

2. Agree with offers of the Central bank of the Republic of Uzbekistan and commercial banks on implementation by strategic investors of redemption payments on the companies implemented by commercial banks, including the newly created companies based on the real estate objects accepted in property of commercial banks as a result of non-return of the loans which are earlier granted by them and also to shares in their authorized capital one-timely or by installments, without charge of percent on remaining balance of the redemption amount, and also without the order right before complete payment of redemption payments.

3. Take into consideration that the State committee on assistance to the privatized companies and development of the competition, by the Central bank, Department on execution of judgments, material and financial provision of activity of the courts under the Ministry of Justice of the Republic of Uzbekistan, and also commercial banks carries out inventory count of real estate objects as a result of which are created:

the list of the real estate objects accepted in property of commercial banks as a result of non-return of the loans which are earlier granted by them based on which implementation of investment projects by commercial banks on the organization of new productions, according to appendix No. 1 is provided;

the list of the separate companies concerning which objects the enforcement proceeding directed to debt collection before commercial banks following the results of which measures for effective use of the objects turned into their property by the organization new and upgrades of the operating productions, according to appendix No. 2 are implemented by commercial banks is conducted;

the list of the companies on which floor spaces the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition together with commercial banks and owners performs measures for financial improvement by implementation of perspective investment projects, according to appendix No. 3.

4. To commercial banks together with the State committee on assistance to the privatized companies and development of the competition, the Central bank of the Republic of Uzbekistan:

in two-month time to develop and submit for approval of the Republican commission on realization of economically insolvent companies to commercial banks (further - the Republican commission) "road maps" and network schedules of implementation of investment projects on the organization by commercial banks of new productions based on the real estate objects approved in property of commercial banks as a result of non-return of the loans which are earlier granted by them according to the list according to appendix No. 1 to this Decree;

upon completion of enforcement proceeding to provide to the Republican commission of the offer - "road maps" on further effective use of the commercial banks of real estate objects of the companies provided in appendix No. 2 to this Decree turned into property;

on regular basis to submit for consideration of the Republican commission of the offer on the organization of new modern production capacities based on the real estate objects accepted in property of commercial banks as a result of non-return of the loans which are earlier granted by them.

5. To the state committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition:

in two-month time together with commercial banks to develop and submit for consideration of the Republican commission the plan of specific measures - "road maps" on financial improvement of the companies provided in appendix No. 3 to this Decree;

provide control of implementation of measures, No. No. provided by appendices 1, 2 and 3 to this Decree, mainly during 2017 - 2018;

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 36000 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.