RESOLUTION 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

[Extraction]

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":

1. Approve:

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

structure of central office of the Agency on market development of the capital of the Republic of Uzbekistan according to appendix No. 2.

2. Establish the extreme number of managerial personnel of the Agency on market development of the capital of the Republic of Uzbekistan (further - the Agency) in number of 90 units, including central office of the Agency - 50 units.

Grant to the director of the Agency the right:

make, if necessary, changes to the approved structure of central office of the Agency;

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

approve the extreme number of managerial personnel of territorial administrations of the Agency within the total established number;

enter additional established posts of specialists of managerial personnel of the Agency by extrabudgetary funds of the Agency;

attract as employees and consultants of qualified domestic and foreign specialists with establishment by it, according to the procedure of exception, the sizes of the salary and other payments by extrabudgetary funds of the Agency;

establish for employees of the Agency of the allowance and other stimulating payments to official pay rates (tariff charges) for the main post, regardless of other payments, stipulated by the legislation, by extrabudgetary funds of the Agency;

determine, proceeding from the international practice and market conditions, the amount of compensation of the qualified foreign specialists attracted on contractual basis for realization of the tasks assigned to the Agency.

3. Determine sources of financing of expenses by content of the Agency of means of the Government budget of the Republic of Uzbekistan and other means which are not forbidden by the legislation.

4. Determine that:

a) Agency:

is legal successor of the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition (further - Goskomkonkurention) and the Center for coordination and market development of securities in case of Goskomkonkurention by all rights, obligations and agreements regarding regulation of the security market, including organizers of the biddings valuable papers and Central Securities Depository, and also development of corporate management;

is authorized state body on regulation of the security market;

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;

is the licensing body of activities of stock exchanges and professional activity in the security market;

is authorized state body on regulation and licensing of activities for the organization of lotteries;

b) drafts of regulatory legal acts on the questions including the field of activity of the Agency without fail are subject to coordination with it;

c) checks on the questions entering competence of the Agency in all organizations irrespective of pattern of ownership, are performed according to the procedure of the notification of authorized body on coordination of checks of activities of subjects of entrepreneurship and are subject to obligatory registration in the Single system of electronic registration of checks;

d) the director of the Agency, his first deputy and deputies are appointed to position and dismissed by the President of the Republic of Uzbekistan on representation of the Prime Minister of the Republic of Uzbekistan, according to the status, to conditions of medical and transport attendance are equated respectively to the minister, the first deputy minister and the deputy minister;

e) appointment of heads of territorial administrations of the Agency is performed by the director of the Agency in coordination, respectively, with the chairman of the board of Ministers of the Republic of Karakalpakstan, hokimama of areas and Tashkent;

e) The qualifier of the main positions of employees and professions of workers regarding the minimum level of education in case of employment, establishments of qualification categories by professions of workers carries, according to the procedure of exception, advisory nature for application in the Agency concerning the specialists of the corresponding direction who graduated from the highest educational institutions abroad;

g) for employees of the Agency the procedure for medical attendance provided for employees of the transformed Center for coordination and market development of securities in case of Goskomkonkurention remains;

h) the documents which are earlier issued to Goskomkonkurention and the Center for coordination and market development of securities in case of Goskomkonkurention and decisions made by them keep the force and are not subject to cancellation or change in connection with their transformation;

i) the licenses for the right of implementation of activities for the organization of lotteries which are earlier granted by the Ministry of Finance of the Republic of Uzbekistan keep the force before the expiration of their action and are not subject to renewal in connection with data transmission of powers to the Agency.

5. Form under the Agency off-budget fund of assistance to market development of the capital (further - Fund) without formation of legal entity.

Determine the main sources of forming of Fund:

the collection paid by the seller in case of transactions with securities on the stock exchange;

collection in case of state registration of primary release of issued securities;

the collection paid by the issuer in case of increase in nominal value of issued securities within process of their consolidation;

the collection levied for consideration of the application of the license applicant on the right of implementation of activities for the organization of lotteries and approval of conditions of carrying out lotteries;

other charges levied by the Agency in accordance with the established procedure;

the means arriving from the penalties collected by the Agency in the procedure established by the legislation from business entities and their officials for violation of the law about the security market and activities for the organization of lotteries;

income from investment of funds of Fund on deposits of commercial banks;

grant means and charitable gifts of the international institutes and organizations, legal entities and physical persons;

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