RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 27, 2020 No. PP-4732

About measures for settlement of process of shared-equity construction of apartment houses

For the purpose of implementation to the sphere of house construction of the republic of modern market mechanisms and creating favorable conditions for active investment attraction, ensuring legal regulation of the relations in the course of shared-equity construction of apartment houses, and also strengthening of guarantees of the rights and legitimate interests of persons participating in shared-equity construction:

1. Determine that:

a) attraction of financial resources of physical persons and legal entities (further - shareholders) on shared-equity construction of apartment houses can be performed only by the builders having the status of the legal entity and included in the Electronic list of the builders raising funds for shared-equity construction (further - the Electronic list);

b) The electronic list is kept for the purpose of accounting of the builders raising funds for shared-equity construction, and also preventions of violation of the rights and legitimate interests of shareholders;

c) for inclusion in the Electronic list builders shall meet the following requirements:

availability of the parcel of land allocated in accordance with the established procedure for construction of apartment houses, and also source allowing documents on carrying out construction works;

availability of own financial resources in the amount of at least 20 percent from the cost of apartment houses and other construction objects in construction complex or the guaranty letter of bank about allocation of the credit for this amount or its missing part;

design estimates availability on construction complex and positive experimental testimony (except for the projects realized by the fast-track method;

availability of the signed contracts for implementation of test and designer's service, and also state control;

availability of the opened separate settlement account in commercial bank for accumulation of funds deposited by shareholders.

2. Establish procedure according to which:

attraction of financial resources on shared-equity construction is performed according to the agreement signed between the builder and the shareholder registered in accordance with the established procedure;

maintaining data on shared-equity construction, including inclusion of builders in the Electronic list and registration of agreements is performed by the Ministry of construction of the Republic of Uzbekistan and its territorial subdivisions electronically through the electronic platform created with use of modern information and communication technologies;

funds of shareholders are accumulated on the separate bank settlement account of the builder on each construction complex and go only to the purposes of accomplishment of agreement obligations, the prisoner between the builder and shareholders;

builders can perform building and construction works by own forces or with involvement of construction contract organization (prime contractor). At the same time the prime contractor can attract the subcontract organizations to conducting building and construction works on the basis of the general contract signed with the builder with accomplishment condition by own efforts at least 30 percent from total cost of works (services);

builders through the official websites or pages on social networks regularly inform on expenditure of means of shareholders and performance of works on construction objects, and also provide possibility of observation of construction objects online;

3. Approve Regulations on shared-equity construction of apartment houses according to appendix.

Determine that requirements of this Provision extend also to construction complexes on which to its introduction notifications on the beginning of building and construction works according to the procedure established by the legislation are sent to force in 2020.

4. Agree with the offer of the Ministry of construction of the Republic of Uzbekistan on creation in its central office of Department of market development of shared-equity construction numbering 2 the established posts financed by extrabudgetary funds of this ministry.

5. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 30.04.2021 No. UP-6218

6. To agency on management of the state assets of the Republic of Uzbekistan in case of development of the bill regulating questions of insolvency to provide taking into account the best foreign practices special procedure for recognition insolvent the builders participating in shared-equity construction.

7. To provide to the ministry of construction of the Republic of Uzbekistan:

in a month together with the Ministry of Justice of the Republic of Uzbekistan approval of measures for ensuring integration of the electronic platform used for maintaining the database about shared-equity construction including inclusions of builders in the Electronic list and registrations of contracts with information system of the Agency of the state services;

in two-month time together with the Ministry of Internal Affairs of the Republic of Uzbekistan, khokimiyat of the city of Tashkent and other interested ministries and departments introduction of offers on simplification of procedure for participation of foreign citizens and persons without citizenship in shared-equity construction of apartment houses;

in two-month time entering into the Cabinet of Ministers of offers on the changes and amendments into the legislation following from this resolution.

8. To impose control of execution of this resolution on the Prime Minister of the Republic of Uzbekistan A. N. Aripov.

Appendix

to the Resolution of the President of the Republic of Uzbekistan of May 28, 2020 No. PP-4732

Regulations on shared-equity construction of apartment houses

Chapter 1. General provisions

1. This Provision determines procedure for shared-equity construction of apartment houses and use of means of the physical persons and legal entities accumulated for these purposes.

2. This Provision does not extend to the relations between subjects of entrepreneurship connected with investing activities for the purpose of income acquisition by agreement parties.

3. For the purposes of this provision the following basic concepts are used:

authorized state body - the Ministry of construction of the Republic of Uzbekistan, the Ministry of construction of the Republic of Karakalpakstan, head departments of construction of areas;

the shareholder - the physical person or legal entity which signed the contract for participation in shared-equity construction for the purpose of acquisition on the property right of one or several construction objects in construction complex;

shared-equity construction - construction, reconstruction and reshaping of apartment houses at the expense of means of builders and shareholders;

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