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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of October 16, 2006 No. 215

About measures for ensuring effective management of the companies with the state share in authorized fund and proper accounting of state-owned property

(as amended on 14-04-2020)

According to resolutions of the President of the Republic of Uzbekistan of April 26, 2006 No. PP-335 "About measures for enhancement of activities of the State Property Committee of the Republic of Uzbekistan" and of September 27, 2006 No. PP-475 "About measures for further market development of securities", and also for the purpose of increase in efficiency of use of state-owned property, creation of conditions for investment attraction the Cabinet of Ministers decides:

1. Approve:

Regulations on the state companies according to appendix No. 1;

Regulations on service of internal audit at the companies according to appendix No. 2;

Regulations on procedure for transfer to trust management of the state blocks of shares (shares) according to appendix No. 3.

2. To the State Property Committee of the Republic of Uzbekistan:

to enter into two-month time at Republican business school under the State Property Committee the educational and practical program for training of managers of average and the top management of the companies for questions of strategic planning, financial management, market segmentation of sale and other directions, and also the staff of services of internal audit of the companies;

in two-month time to develop and approve in accordance with the established procedure regulations on accounting treatment and maintaining the register of the state companies and organizations of the Republic of Uzbekistan.

3. To the State Property Committee of the Republic of Uzbekistan together with the interested ministries and departments, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent to organize broad explanatory work on basic provisions of this resolution.

4. Recognize invalid some decisions of the Government of the Republic of Uzbekistan according to appendix No. 4.

5. Make changes to the resolution of the Cabinet of Ministers of April 19, 2003 No. 189 "About measures for enhancement of corporate management by the privatized companies" (the joint venture of the Republic of Uzbekistan, 2003, No. 4, the Art. 32) according to appendix No. 5.

6. To the ministries and departments to bring the regulations into accord with this resolution in a month.

7. To impose control over the implementation of this resolution on the Deputy prime minister of the Republic of Uzbekistan Azimov R. S.

Prime Minister of the Republic of Uzbekistan

Shavkat Mirziyoyev

Appendix No. 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of October 16, 2006 No. 215

Regulations on the state companies

I. General provisions

1. This Provision according to the Civil code of the Republic of Uzbekistan and other acts of the legislation determines legal status of the state company, feature of creation and activities of the state company, its branches and representations, the rights and obligations of the founder, executive body, the property relations between the state company and its founder.

2. In this Provision the following basic concepts are used:

the state company - the commercial organization in the form of the state unitary enterprise formed based on the property which is in state-owned property transferred to it to operational management which concerning the property assigned to it performs in the limits set by the law according to the purposes of the activities, tasks of the owner (or according to its order - the state founder body authorized by it) and purpose of property of right of possession, use and the order it;

the founder of the state company (further - the founder) - the Cabinet of Ministers of the Republic of Uzbekistan or state bodies authorized by it.

3. The state company has the isolated property, has separate balance, bank accounts, including currency, emblem, stamps and forms, seal with the image of the State Emblem of the Republic of Uzbekistan, with indication of its trade name in state language. The trade name of the state company shall contain the words "davlat korkhonas".

The state company can on its own behalf according to the procedure, established by the legislation, acquire and perform the property and personal non-property rights, to perform duties, to be claimant and the defendant in court.

4. The state company with the consent of the founder can be the member (member) of the commercial organizations, and also non-profit organizations in which according to the legislation participation of legal entities is allowed.

The state company has no right to be the founder of other state company.

5. The state unitary enterprises created by decisions of the President of the Republic of Uzbekistan or the Cabinet of Ministers of the Republic of Uzbekistan, having the right to perform the licensed types of activity without receipt of the corresponding license provided that implementation of these types of activity is provided by decisions of the President of the Republic of Uzbekistan or the Cabinet of Ministers of the Republic of Uzbekistan.

II. Features of organization of the state company

6. The state unitary enterprises can be created in exceptional cases only according to the decision of the Cabinet of Ministers of the Republic of Uzbekistan.

7. The state company is created without restriction of term of activities if other is not established by the decision on its creation.

8. The constituent document of the state company is the charter approved by the founder and registered in the relevant state bodies in the procedure established by the legislation.

9. The charter of the state company shall contain the following data:

trade name, location (postal address);

subject and purposes of activities;

procedure for management of activities of the state company;

size of authorized fund, procedure and sources of its forming;

procedure for increase and reduction of authorized fund;

order conditions property, according to Item 17 of this provision;

procedure for income distribution (profit) and indemnification;

procedure for education reserve and other funds;

rights, obligations and responsibility of the head;

procedure for creation, check and approval of annual statements;

procedure for reorganization and liquidation of the state company.

The charter of society may contain other provisions which are not contradicting the legislation.

10. In week time after state registration, execution of the relevant cadastral documents the state companies, represent respectively to Agency on management of the state assets or its territorial authority of the copy:

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