LAW OF THE REPUBLIC OF TAJIKISTAN

of January 2, 2019 No. 1573

About modification and amendments in the Law of the Republic of Tajikistan "About insurance activity"

Accepted by the Resolution MH MOPT of October 17, 2018, No. 1193

Approved by the Resolution MM MORT of December 25, 2018, No. 602

Article 1. Bring in the Law of the Republic of Tajikistan of July 23, 2016 "About insurance activity" (Akhbori of Majlisi Oli of the Republic of Tajikistan, 2016, No. 7, Art. 627; 2018, No. 1, the Art. 19) the following changes and amendments:

1. Add Article 1 with the paragraph the sixty fourth the following content:

"-the beneficial owner (beneficiary) - one or several physical persons which directly or indirectly have property (have more than 25 percent of the prevailing equity participation of the client or from total number of the share of the client with voting power) or really control the client and/or person in whose interests transaction/transaction, also persons controlling the legal entity is made;".

2. Part in paragraph six 1, the paragraph the fourth 2 Articles 30, the paragraph third part 8 of Article 31 and in paragraph seven of part 6 of Article 34 of the word "and to terrorism financing" shall be replaced with words parts ", to financing of terrorism and financing of distribution of weapons of mass destruction".

3. Add Article 20 with parts 13, 14 and 15 following contents:

"13. At the time of payment of insurance indemnities (insurance payment) by the insurance (reinsurance) organization, to the insurer or the beneficial owner and the beneficiary according to the insurance contract the insurance (reinsurance) organization shall carry out the following procedures on proper check concerning the insurer or the beneficial owner and the beneficiary according to the insurance contract:

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