RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of July 22, 1997 No. 368

About approval of the Regulations on Fonda of price regulation

1. Approve Regulations on Fonda of price regulation of the Ministry of Finance of the Republic of Uzbekistan according to appendix.

2. To provide to the Ministry of Finance of the Republic of Uzbekistan use of fund of price regulation it is strict on purpose.

3. Consider invalid the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of June 14, 1993 N 284 "About approval of the Regulations on Fonda of price regulation"

4. To impose control of execution of this resolution on the Deputy prime minister Hamidov B. S.

Appendix

to the resolution of the Cabinet of Ministers of July 22, 1997 No. 368

Regulations on Fonda of price regulation

I. Basic provisions

This Provision is developed according to the resolution of the Cabinet of Ministers of March 31, 1997 N 165 "About measures for implementation of the Law of the Republic of Uzbekistan "About the competition and restriction of monopolistic activities in the goods markets".

The provision determines the purposes and tasks of Fund of price regulation, provides procedure for its forming, use and it is obligatory for execution by all companies, associations, the organizations and other legal entities (irrespective of subordination and patterns of ownership), and also the entrepreneurs (without formation of legal entity) making and selling products, goods, works and services in the territory of the Republic of Uzbekistan.

The fund of price regulation is created under the Ministry of Finance of the Republic of Uzbekistan.

II. Purposes and tasks of Fund of price regulation

The fund of price regulation is created for the purpose of implementation of actions for social protection of the population from unjustified increase in prices for products of the managing subjects monopolists and mitigation of inflationary tendencies.

The main objective of fund of price regulation is implementation of measures on:

to control of increase in prices and tariffs for products, goods, works and services of enterprise monopolists, subjects of natural monopolies;

to consumer protection from overestimate of limit of profitability, the prices and rates for goods, works, services of enterprise monopolists and subjects of natural monopoly, unreasonable reducing production volumes and decline in quality of the made products, the rendered services of enterprise monopolists and subjects of natural monopoly;

to creation of economic conditions for reduction of prices and growth in volumes of production and sales of goods by development of competitive environment in the goods markets of the republic and support of entrepreneurship;

to ensuring compliance by business entities with procedure for forming and use of the prices and rates for goods, works and services, markups for which state regulation, by carrying out explanatory works, and also the organization of systematic checks is provided from the state antimonopoly authorities.

III. Procedure for forming of Fund of price regulation

The fund of price regulation is created at the expense of the means arriving from business entities in cases of violation by them of the antitrust law, the legislation on natural monopolies, on consumer protection and on advertizing, and also penalties imposed on business entities for these specified violations in the procedure established by the legislation.

All amount of the means and penalties provided in paragraph one of this Section (except for the means which are subject to transfer in fund of social development and financial incentive of employees of the Ministry of Economics of the Republic of Uzbekistan and Fund of support of entrepreneurship and restructuring of the companies for the State committee of the Republic of Uzbekistan on demonopolization, support of the competition and entrepreneurship in sizes respectively 4 and 6 percent, and also 45 percent from the penalties imposed for violations of the law about consumer protection and subjects to transfer in Fund of support of development of social movement of consumer protection for Federation of societies of consumer protection), goes to Fund of price regulation.

Control of completeness, correctness and timeliness of entering of means into Fund of price regulation is performed by financial bodies of the Republic of Uzbekistan.

IV. Use of Fund of price regulation

The fund of price regulation is used on financing of expenses of social nature and compensation of difference in the prices (rates) for the services rendered to the population at the state regulated prices (rates) for production of socially important consumer goods on which the Government supports rather low price level (including customer groups, needing social protection), and on other purposes determined by the Government of the republic.

Fund of price regulation can be allocated for replenishment of the government budget.

The decision on assignment for the specified purposes is made by the Ministry of Finance of the Republic of Uzbekistan.

Control of correctness of use of fund of price regulation of the Ministry of Finance of the Republic of Uzbekistan is exercised according to the current legislation.

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