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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of March 14, 2005 No. PP-29

About the program of privatization and privatization of the companies for 2005-2006

(as amended on 28-04-2015)

For the purpose of ensuring the advancing private sector development, increase in its share in national economy, as most important priority of the deepening of economic reforms determined in the report of the President of the Republic of Uzbekistan on joint sitting of Legislative house and Senate of the Oliy Majlis, and also cardinal reducing share of the state in authorized capitals of economic societies, increases in their investment appeal, market development of securities, first of all secondary:

1. ceased to be valid

2. To the State Property Committee of the Republic of Uzbekistan together with the ministries, departments, economic associations, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent to approve schedules of evaluating, exposure to the biddings and realization of the companies, objects and other assets of the state specified in appendices No. No. 1-3 to this resolution in a month.

3. The state tender commission (Azimov R. S.) together with the State Property Committee and complexes of the Cabinet of Ministers of the Republic of Uzbekistan following the results of 2005 and 2006 to carry out careful inventory count of results of privatization of the companies and objects specified in appendix No. 1, and on the objects which are not realized at the exchange biddings to make in the Cabinet of Ministers offers on their sale on zero redemption value under investment obligations.

4. Grant the right to the Commission on monitoring of effective use of the state share fraction in joint-stock associations and the companies (Azimov R. S.) to make decisions on provision to the investors acquiring not controlling stocks (shares), but bringing the considerable volumes of investment into upgrade and modernization of the companies, the rights of management of the state share intended for transfer to management of the trustee of investment assets without carrying out, tender.

5. Determine that:

objects and not placed assets of the state are implemented in accordance with the established procedure at the exchange, auction and competitive biddings, except for the assets realized according to the decision of the State tender commission;

privatization of the strategic companies, and also the companies which obtained foreign secured loans of the Government is performed according to decisions of the Cabinet of Ministers based on the conclusions of the State tender commission;

the realization to strategic investors of assets of the state in the companies of light industry is enabled only in coordination with the State tender commission in the presence of the business plans of upgrade and modernization of production providing deep conversion of raw materials and increase, export of finished goods;

alienation by bodies of economic board of the state blocks of shares (shares) transferred to them to the authorized capital is performed only according to the solution of the Supervisory board or general meeting of shareholders of bodies of economic board with the direction of the received money on investment of projects on creation new, to upgrade and modernization of operating plants or in coordination with the Ministry of Finance of the Republic of Uzbekistan.

6. The state tender commission (Azimov R. S.) in three-months time to proinventarizirovat technical condition of children's recreation camps and to make in the Cabinet of Ministers of the Republic of Uzbekistan offers on their target use, including by means of transfer to Fund of children's sport of Uzbekistan.

7. The state tender commission together with Government commission on bankruptcy and sanitation of the companies:

until the end of 2005 to carry out efficiency analysis of activities of all privatized industrial enterprises;

by results of the carried-out analysis on the legal entities having signs of economic insolvency (bankruptcy) to perform the stipulated by the legislation procedures including liquidation of the bankrupt companies and realization of their property complexes to new private owners under investment obligations and plans of financial improvement.

8. To the State Property Committee of the Republic of Uzbekistan, Broadcasting company of Uzbekistan to organize system work on extended coverage in mass media of the course of accomplishment of the Program of privatization and privatization approved by this resolution for 2005-2006.

9. To the State Property Committee together with the Ministry of Economics, the Ministry of Justice of the Republic of Uzbekistan and other interested departments to make in the Cabinet of Ministers offers on changes and amendments in the resolution of Oliy Majlis of the Republic of Uzbekistan of August 31, 1995 No. 119-1 in a month "About some questions of privatization and privatization of the separate companies and property", meaning reducing types and groups of companies and property, not privatizeable.

10. Recognize invalid and make changes and additions to some decisions of the Government of the Republic of Uzbekistan according to the appendices N4 and 5.

11. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Azimov R. S.

President of the Republic of Uzbekistan

I. Karimov

Appendix No. 4

to the Resolution of the President of the Republic of Uzbekistan of March 14, 2005 No. PP-29

List of decisions of the Government of the Republic of Uzbekistan, invalid

1. Item 1 of the resolution of the Cabinet of Ministers of March 26, 2002 No. 97 "About additional measures for providing program implementation of privatization and privatization, attraction of foreign investments".

2. Appendices No. No. 1 and 2 to the resolution of the Cabinet of Ministers of October 8, 2002 No. 347 "About additional measures for liquidation and restructuring of economically insolvent companies".

3. The resolution of the Cabinet of Ministers of November 26, 2002 No. 408 "About measures for reconstruction of Chorsu hotel complex.

4. Appendices No. No. 1, 2, 3, 4 and 5 to the resolution of the Cabinet of Ministers of April 17, 2003 No. 185 "About the program of privatization and privatization of the companies for 2003-2004".

Appendix No. 5

to the Resolution of the President of the Republic of Uzbekistan of March 14, 2005 No. PP-29

Changes and additions made to some decisions of the Government of the Republic of Uzbekistan

1. No. 285 "About measures for ensuring effective activities of Republican stock exchange "Toshkent" and development of infrastructure of the security market" to add Item 5 of appendix No. 2 to the resolution of the Cabinet of Ministers of June 8, 1994 with the paragraph of the following content:

"In case of intention of acquisition by the investor and (or) together with its affiliates as a result of one or several transactions of the block of shares of the open joint stock company constituting in total 15 and more percent preliminary public disclosure of information on it according to the procedure, determined by authorized state body by regulation of the security market is required".

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