of December 10, 2021 No. 304
About approval of the mechanism of repayment of accounts payable of state bodies by release of treasury obligations
For the purpose of ensuring repayment of accounts payable of state bodies of the Kyrgyz Republic before suppliers of goods, works and services, according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:
2. Determine that heads of state bodies bear the personal responsibility for accuracy of the data by provision of information on accounts payable.
Chairman of the Cabinet of Ministers of the Kyrgyz Republic
to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of December 10, 2021 No. 304)
1. This Provision regulates procedure for release and repayment of treasury obligations of the Ministry of Finance of the Kyrgyz Republic (further - authorized state body on forecasting and execution of the budget / authorized body).
2. Treasury obligations are personalized government securities. The authorized body acts as the issuer of treasury obligations.
3. Treasury obligations can act as pledge.
4. Treasury obligations are the document granting the right at the scheduled time to unconditional satisfaction of monetary requirement which the owner of treasury obligation imposes on the issuer.
5. In this Provision the following determinations and terms are applied:
1) the owner of security - the physical person or legal entity owning security;
2) treasury obligation - the two-year security of authorized state body on forecasting and budget implementation nominated in national currency, issued for settlement of obligations of state bodies;
3) the issuer - the legal entity who on its own behalf shall fulfill the obligations following from condition of issue of securities.
6. Treasury obligations are issued for the purpose of settlement of obligations on accounts payable of state bodies.
7. Release of treasury obligations for settlement of obligations can be performed only based on the order of authorized body.
8. Treasury obligations of authorized body are issued in paper form.
9. Release of treasury obligations is performed by series according to orders of authorized body in which shall be specified date, conditions of release and repayment of each series of treasury obligations.
10. Each release of treasury obligations has the unique number of series.
11. Each treasury obligation of one series has the unique number.
12. Parameters of treasury obligations are determined by authorized body and established in each treasury obligation.
13. Charge of percent on treasury obligations is not provided (interest-free).
14. Data on release of each series of treasury obligations are entered in the State book of registration and accounting of treasury obligations of the Kyrgyz Republic (further - the State book).
15. Release of treasury obligations and registration of right to claim by transfer to the third parties of treasury obligations are performed by authorized body. The owner by transfer of treasury obligations to the third parties officially informs authorized body.
16. In case of the making of transactions of purchase and sale and other transactions involving transfer of right of possession treasury obligations including the mortgage relations, record about making of transaction on reverse side of treasury obligations is made. This record shall be registered in the State book.
17. The taxation of the income on treasury obligations is performed according to the tax legislation of the Kyrgyz Republic.
18. Repayment of treasury obligations is performed by authorized body by money transfer according to nominal value of treasury obligations into accounts of the last owners of treasury obligations.
19. Repayment of treasury obligations is performed after approach of the repayment date specified in treasury obligations and the order of authorized body included in the State book.
20. The owner represents treasury obligations for repayment to authorized body which draws up the corresponding delivery-acceptance certificate. The procedure of repayment of treasury obligations is performed according to Regulations on the State book.
21. The authorized body within 10 (ten) working days transfers money from the single treasurer account of authorized body into accounts of the last owners of treasury obligations.
22. Repayment is performed only in case of compliance of entries in the State book to records on reverse side of treasury obligations.
23. For control of release, transfer and repayment of treasury obligations the State book which is created separately on each issued series of treasury obligations is kept.
24. In the State book record of movement of each unique number of treasury obligation which is sealed is kept.
25. On each unique number of treasury obligations the main conditions of release of each series of treasury obligations are specified, namely I will eat around, date of issue, repayment date, the nominal value and other conditions established by authorized body in case of their release.
26. Repayment of treasury obligations is performed by authorized body at sight owners of treasury obligations.
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