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The document ceased to be valid since  October 27, 2018 according to Item 1 of the Resolution of Board of the Central bank of the Republic of Uzbekistan of September 22, 2018 No. 30/15

It is registered

Ministry of Justice

Republic of Uzbekistan

On May 16, 2002 No. 1140

RESOLUTION OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of April 22, 2002 No. 10/4

About approval of the Regulations on release and the circulation of bonds of the Central bank of the Republic of Uzbekistan for legal entities

(as amended on 26-08-2017)

According to the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and the Presidential decree of the Republic of Uzbekistan of March 30, 2002 the No. UP-3047 "About Measures for Restriction of Growth of Money Supply and Increase in Responsibility for Respect for Financial Discipline" Board of the Central Bank decides:

1. Approve the enclosed Regulations on release and the circulation of bonds of the Central bank of the Republic of Uzbekistan for legal entities.

2. This resolution will become effective after ten days from the moment of state registration in the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Central bank of the Republic of Uzbekistan

F.M.Mullazhonov

Approved by Board of the Central bank of the Republic of Uzbekistan on April 22, 2002 No. 10/4

Regulations on release and the circulation of bonds of the Central bank of the Republic of Uzbekistan for legal entities

This Provision is developed according to the Laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About the security market", "About currency control" and the Presidential decree of the Republic of Uzbekistan of March 30, 2002 No. UP-3047 "About Measures for Restriction of Growth of Money Supply and Increase in Responsibility for Respect for Financial Discipline" also regulates procedure for placement, the address and bond redemption of the Central bank of the Republic of Uzbekistan for legal entities (further - "bonds").

1. General provisions

1. Bonds of the Central bank represent the instrument of monetary policy and are issued for the purpose of regulation of money supply in the address.

Bond liquidity of the Central bank of the Republic of Uzbekistan is provided with all assets which are at the disposal of the Central bank.

2. Bonds are coupon government securities and grant to their owners the right to nominal value of the bond in case of its repayment and on receipt of coupon yield in the form of percent to nominal value of the bond.

The percent received on bonds of the Central bank are exempted from the taxation.

3. Central Bank of the Republic of Uzbekistan performs placement and bond redemption on its own behalf and at own expense.

4. Bonds are personalized securities and are issued in paperless form (in the form of electronic records).

Bond emission is performed periodically in the form of separate releases and drawn up by the Global certificate in which identification number of bond issue according to Appendix No. 1 is specified.

5. Central Bank can issue bonds with indication of nominal value in bags or foreign currency.

All calculations for transactions with bonds in case of release, the address and repayment are made in that currency in what they are issued.

6. Only legal entities who are residents of the Republic of Uzbekistan can be bondholders.

Bondholders have the right to own, use and dispose of the bonds belonging to them according to the current legislation taking into account the restrictions imposed under contracts which are signed based on this provision.

7. Bonds of the Central bank can serve as mortgage providing the credits and subject to purchase and sale in repo transactions (the transaction of purchase and sale of securities with the return redemption).

8. The circulation of bonds is performed by the conclusion of the agreement (transaction) of purchase and sale, and also other actions, stipulated by the legislation, leading to change of the bondholder.

9. Central Bank of the Republic of Uzbekistan, according to the purposes of the monetary policy pursued by it having the right to buy and sell the bonds issued by it in the public market.

2. Participants and infrastructure of the market

10. Members of the bond market for the purpose of this provision are divided into the following categories: Issuer, Dealer, Investor.

11. Bond issuing institution is the Central bank of the Republic of Uzbekistan which is acting on the basis of the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan". In case of decision making by determination of interest rate at auction and to carrying out transactions with bonds in the public market the Central bank is acted by the Credit committee created under the Central bank of the Republic of Uzbekistan on behalf.

12. The commercial banks or other legal entities who are members of the exchange and the signed contract with the Central bank of the Republic of Uzbekistan for accomplishment of functions on servicing of transactions with bonds, is called the Dealer. Relations between the Dealer and the Uzbek republican currency exchange (further in the text - "UZRVB") are drawn up by the relevant agreement.

The dealer has the right to acquire bonds on its own behalf and at own expense.

The dealer can perform functions of the financial broker in case of the conclusion of transactions with bonds on its own behalf, for the account and at the request of the Investor. Implementation of the bonds used as pledge is performed only by the Dealer who is the pawnbroker of these bonds or acting for the account and at the request of the Investor who is the pawnbroker of bonds.

Dealers are divided into two categories: Primary dealer and Secondary Dealer.

Primary dealer:

a) has the right to acquire bonds at auction both on its own behalf and at own expense, and on its own behalf, but for the account and at the request of the Investor;

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