of November 4, 2022 No. 606
About approval of the Regulations on procedure for release and use of digital treasury obligations of the Ministry of Finance of the Kyrgyz Republic
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 Article 60 of the Budget code of the Kyrgyz Republic, 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:
1. Approve Regulations on procedure for release and use of digital treasury obligations of the Ministry of Finance of the Kyrgyz Republic according to appendix.
2. This resolution becomes effective after fifteen days from the date of official publication.
Chairman of the Cabinet of Ministers of the Kyrgyz Republic
A. Zhaparov
Appendix
to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of November 4, 2022 No. 606)
1. This Provision regulates procedure for release and use of digital treasury obligations of the Ministry of Finance of the Kyrgyz Republic (further - authorized state body on forecasting and execution of the budget / authorized state body).
2. The digital treasury obligation is the paperless government security registered in special program platform of system of treasury, granting the right to its owner on use for repayment of accounts payable, including for tax and non-tax assignments.
3. The authorized state body acts as the issuer of digital treasury obligations.
4. Digital treasury obligations are used only between the registered participants in special program platform of system of treasury as non-cash means of payment for mutual calculations.
5. The term of use of digital treasury obligations for making of transaction on payment of budgeted expenses - one year.
6. The minimum threshold of expense amount, due for settlement in the form of digital treasury obligations, is established in the amount of 100000 (hundred thousand) som.
7. In this Provision the following determinations and terms are applied:
1) the owner of the digital budget obligation - the state body or the legal entity registered as the participant on special program platform of system of treasury owning digital security;
2) digital treasury obligation - the security of authorized state body on forecasting and budget implementation nominated in national currency, issued for settlement of current expenses and mutual calculations of state bodies in non-cash form;
3) the issuer - the legal entity who on its own behalf shall fulfill the obligations following from condition of issue of securities.
8. Digital treasury obligations are issued for the purpose of covering of current expenses of state bodies in non-cash form.
9. Release of digital treasury obligations is performed only in case of coordination with suppliers of goods, works and services of payment terms by digital securities without possibility of cashing in and its end use for tax and non-tax contributions to the republican budget.
10. Release of digital treasury obligations for covering of current expenses of state bodies can be performed based on the order of authorized state body.
11. The decision on release of digital treasury obligations for repayment of current expenses of state bodies is made by authorized state body.
12. Digital treasury obligations of authorized state body are issued electronically on special program platform of system of treasury.
13. Release of digital treasury obligations is performed by series according to orders of authorized state body in which shall be specified date of issue, release conditions, nominal value and end date of term of each series of digital treasury obligations.
14. Each release of digital treasury obligations has the unique number of series.
15. Each digital treasury obligation of one series has the unique number.
16. Parameters of digital treasury obligations are determined by authorized state body and established in each digital treasury obligation.
17. Data on release of each series of digital treasury obligations contain in the Online state magazine of registration and accounting of digital treasury obligations of the Kyrgyz Republic (further - the Online state magazine).
18. State bodies and suppliers of goods, works and services (legal entities) sign the general agreement with authorized state body about acceptance of conditions of use of digital treasury obligations and are registered as participants in special program platform of system of treasury according to the Instruction developed and approved by authorized state body.
19. In the general agreement the rights and obligations of state bodies and suppliers of goods, works and services are accurately specified.
20. State bodies, for payment of current expenses by digital treasury obligations for goods, work and service, perform data collection and processing about availability of registration of legal entities in special program platform of system of treasury, also about payment amount compliance (equal or it is more) to the minimum threshold amount.
21. By results of data collection and processing state bodies approve with suppliers of goods, works and services question of settlement of debt digital treasury obligations and in case of achievement of consent draw up the request for release of digital treasury obligations in special program platform of system of treasury.
22. State bodies for release and transfer of digital treasury obligations to suppliers of goods, works and services for payment of the current payment commitments, attach to payment in special platform of system of treasury supporting documents on performing payment.
23. The supporting documents which are the basis for emergence of the current payment commitments are copies of the signed agreement to deliver goods, works and services, the copy of acts of reconciliations and/or other document.
24. Release of digital treasury obligations and monitoring of transfer of the right to use to the third parties (suppliers of goods, works and services), in case of performing payments in special program platform of system of treasury are performed by authorized state body.
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