of October 22, 2019 No. ZRU-572
About modification and amendments in some legal acts of the Republic of Uzbekistan in connection with strengthening of legal protection of creditors and enhancement of funding mechanisms for business activity
Accepted by Legislative house on August 14, 2019
Approved by the Senate on October 11, 2019
Article 1. Bring in the Law of the Republic of Uzbekistan of December 9, 1992 No. 736-XII "About pledge" (in edition of the Law of the Republic of Uzbekistan of May 1, 1998 No. 614-I) (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1998, No. 5-6, of Art. 96; 2002, No. 1, Art. 20; Sheets of chambers of Oliy Majlis of the Republic of Uzbekistan, 2007, No. 4, Art. 156; 2009, No. 9, Art. 337; 2015, No. 8, Art. 312; 2018, No. 1, Art. 4, No. 4, Art. 224) following changes and amendments:
Shall be replaced with words 1) in part two of Article 1 of the word "behind the withdrawals established by the law" "according to the procedure, provided by the law";
The text of Article 10 to state 2) in the following edition:
"In the pledge agreement the name, the location (residence) of the parties, pledge type, subject of pledge and its assessment, being, the size and completion date of the obligation provided with pledge, the description of pledged property, and also other data concerning which the consent of the parties, or the data sufficient for identification of subject of pledge and the obligation provided to them is reached are specified. It shall contain also specifying on what of the parties has pledged property.
The subject of pledge can be identified by means of the general description of property, including by the description of this property as separate type or class.
The obligation provided with pledge can be identified by specifying of maximum amount of the obligation which can be extinguished from the cost of pledged property.
Assessment of subject of pledge is performed under the agreement between the pledger and the pawnbroker or by evaluating subject of pledge according to requirements of the legislation on estimative activities";
The text of Article 15 to state 3) in the following edition:
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