LAW OF TURKMENISTAN

of June 3, 2023 No. 30-VII

About modification and amendments in the Law of Turkmenistan "About the security market"

I. Bring in the Law of Turkmenistan "About the security market" of November 8, 2014 (Sheets of Majlis of Turkmenistan, 2014, No. 4, Art. 140; 2018, No. 2, Art. 43; Sheets Millie Gengesha of Turkmenistan, 2021, Art. No. 2-3, 49) following changes and amendments:

1) in Article 11:

third to state part in the following edition:

"3. Combination of types of professional activity is performed by approval of authorized body.";

part the fourth to recognize invalid;

2) in Article 14:

in part five:

"specialized" and "entirely" to exclude words;

add with the paragraph of the following content:

"The investment company can perform direct investing activities and all or separate types of banking activities, stipulated by the legislation Turkmenistan, based on the license of the Central bank of Turkmenistan.";

the paragraph one of part six to state in the following edition:

"If other is not established by the legislation of Turkmenistan, the investment company creates the financial resources at the expense of means of founders, issues of own securities, implementable to legal entities and physical persons, and also reinvested own means.";

Article 16 to add 3) with part of the following content:

"6. The resolution on creation of special body to which tasks of the clearing organization, or about provision of powers to authorized credit body for implementation of tasks of the clearing organization are assigned can be accepted the Cabinet of Ministers of Turkmenistan.";

Article 17 to add 4) with part of the following content:

"10. The resolution on creation of special body to which tasks of depositary, or about provision of powers to authorized credit body for implementation of tasks of depositary are assigned can be accepted the Cabinet of Ministers of Turkmenistan.";

"Exchange council" and "Birzhevy council shall" replace 5) in part four of Article 23 of the word respectively with words "exchange" and "The exchange shall";

6) in Article 30:

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