RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of August 7, 2019 No. 650

About approval of regulations on the Agency on market development of the capital of the Republic of Uzbekistan and Fonda of assistance to market development of the capital under Agency on market development of the capital of the Republic of Uzbekistan

In pursuance of the Presidential decree of the Republic of Uzbekistan of January 14, 2019 No. UP-5630 "About Measures for Radical Enhancement of Management System State Assets, Anti-monopoly Regulation and Capital Market" and resolutions of the President of the Republic of Uzbekistan of January 24, 2019 No. PP-4127 "About the organization of activities of the Agency on market development of the capital of the Republic of Uzbekistan" the Cabinet of Ministers decides:

1. Approve:

Regulations on the Agency on market development of the capital of the Republic of Uzbekistan according to appendix No. 1;

Regulations on Fonda of assistance to market development of the capital under Agency on market development of the capital of the Republic of Uzbekistan according to appendix No. 2.

2. Recognize invalid some decisions of the Government of the Republic of Uzbekistan according to appendix No. 3.

3. To agency on market development of the capital of the Republic of Uzbekistan together with the interested ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution in a month.

4. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan concerning investments and foreign economic relations E. M. Ganiyev and the director of the Agency on market development of the capital of the Republic of Uzbekistan A. A. Nazirov.

Appendix No. 1

to the Resolution of the Cabinet of Ministers of August 7, 2019 No. 650

Regulations on the Agency on market development of the capital of the Republic of Uzbekistan

Chapter 1. General provisions

1. This Provision determines the status, the main objectives, functions, the rights, responsibility‚ procedure for the organization of activities and the reporting of the Agency on market development of the capital of the Republic of Uzbekistan (further - the Agency)‚ and also functional obligations and responsibility of his heads.

2. The agency is authorized state body on regulation of the security market and activities for the organization of lotteries, and also development of corporate management.

The agency performs the powers independently and irrespective of all state bodies and the organizations, their officials and in the activities submits and accountably directly to the Prime Minister of the Republic of Uzbekistan.

3. The agency in the activities is guided by the Constitution and the laws of the Republic of Uzbekistan, resolutions of chambers of Oliy Majlis of the Republic of Uzbekistan, decrees, resolutions and orders of the President of the Republic of Uzbekistan, resolutions of the Cabinet of Ministers of the Republic of Uzbekistan, this Provision and other acts of the legislation of the Republic of Uzbekistan.

4. The agency within the competence makes the decisions obligatory for execution by state bodies, business entities, executive bodies on places

5. The agency is legal entity, has seal with the image of the State Emblem of the Republic of Uzbekistan and the name in state language, bank accounts including in foreign currency.

6. Official name of the Agency:

a) in state language:

complete - ÷zbekiston Respublikasi Capital of bozorina rivozhlantirish agentlig, reduced - the Capital of bozora of agentliga;

b) in English:

complete - The Capital Markets Development Agency of the Republic of Uzbekistan reduced - CMDA;

c) in Russian:

complete - the Agency on market development of the capital of the Republic of Uzbekistan reduced - the Agency of the capital market.

Chapter 2. Structure of the Agency

7. Enter into structure of the Agency:

central office of the Agency;

SUE Information and Resource Center of the Stock Market;

territorial administrations of the Agency in the Republic of Karakalpakstan, areas and the city of Tashkent;

Chapter 3. Tasks and functions of the Agency and its territorial administrations

§ 1. Tasks and functions of the Agency

8. The main objectives of the Agency are:

ensuring realization of single state policy in the field of forming, development, control and regulation of the security market and corporate management;

ensuring compliance with the rights and legitimate interests of the investors performing transactions with securities and also owners of securities;

control of compliance with law about the security market and about joint-stock companies and protection of shareholder rights;

the organization of broad informing investors and the public about condition of development of the domestic capital market and its professional participants;

assistance to implementation of new types of the financial instruments allowing to attract necessary resources to financing of investment projects;

licensing of activities of stock exchanges and professional activity in the security market, and also activities for the organization of lotteries;

establishment of effective cooperation with foreign and international institutes concerning development and regulation of the capital market.

9. The agency according to the tasks assigned to it performs the following functions:

a) in the sphere of ensuring realization of single state policy in the field of forming, development, control and regulation of the security market and corporate management:

provides realization of single state policy on forming and market development of the capital;

exercises control and regulation of the security market according to the directions single state policy in this sphere;

provides development and increase in standards of corporate management in joint-stock companies, and also in activities of issuers of securities;

develops the regulatory legal acts providing necessary conditions for release and effective security circulation of national and foreign issuers in the territory of the Republic of Uzbekistan;

determines conditions and procedure for the admission to placement and security circulation of national issuers abroad, except for international bonds of the Republic of Uzbekistan, and securities of foreign issuers in the territory of the Republic of Uzbekistan;

performs state registration of issues of securities and their derivatives, including the issues of securities performed by foreign issuers in the territory of the Republic of Uzbekistan;

keeps the Unified state register of the issues of securities registered in the republic, and also the legal entities and physical persons which obtained the license for activities as professional participants of the security market and publishes their list;

approves in coordination with the Ministry of Finance of the Republic of Uzbekistan the sizes of rates for services of the Central depositary;

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