LAW OF THE REPUBLIC OF UZBEKISTAN

of December 16, 2005 No. ZRU-13

About electronic payments

Accepted by Legislative house on November 2, 2005

Approved by the Senate on December 3, 2005

Article 1. Purpose of this Law

The purpose of this Law is regulation of the relations in the field of electronic payments.

Article 2. Legislation on electronic payments

The legislation on electronic payments consists of this Law and other acts of the legislation.

If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about electronic payments then are applied rules of the international treaty.

Article 3. Electronic payment

Electronic payment is implementation of clearing settlements by means of electronic payment documents with use of technical means, information technologies and services of information systems.

The electronic payment is made according to statutory rules of payment system on the basis of the agreements signed between subjects of payment system.

Article 4. Payment system and its types

Payment system is set of the relations arising between subjects of payment system when implementing electronic payments.

Types of payment system:

interbank payment system;

intra bank payment system;

system of retail payments.

Article 5. Rules of payment system

Rules of payment system shall contain:

procedure for the introduction and exit from payment system of members of payment service provider;

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