of September 2, 2023 No. PP-291
About additional measures for market development of the capital
For the purpose of further market development of the capital, improvement of its infrastructure, stimulation of attracting investors on the capital market, simplification of the procedure of participation of foreign investors in the local stock market and protection of the rights of investors:
1. Agree with offers of the Ministry of Economics and finance, the Central bank:
about transformation SUE Central Securities Depository in "Central Securities Depository" joint-stock company;
about voluntary conveyance to the Central bank of the state block of shares in the authorized capital of JSC Central Securities Depository;
about creation in case of establishment of JSC Uzbek Republican Currency Exchange of National Clearing Centre joint-stock company.
2. Establish procedure according to which:
activities of JSC Central Securities Depository for registration, accounting and storage of securities, and also implementation of payment under securities are regulated by authorized state body on regulation of the security market, and by calculations with money by results of security transactions - the Central bank;
since January 1, 2025 single accounting of the government and corporate securities is conducted in JSC Central Securities Depository;
activities of JSC National Clearing Centre as "The central partner" and on implementation of centralized clearing (Clearinghouse) are regulated by the Central bank;
till May 1, 2024 for implementation of calculations in the Central bank correspondent accounts of JSC National Clearing Centre and JSC Central Securities Depository are opened;
till December 31, 2028 JSC Central Securities Depository, JSC Uzbek Republican Currency Exchange, by JSC Republican Stock Exchange Tashkent are exempted from charge and dividend payout with the target direction of these funds for their development.
3. Introduce special legal regime "Regulatory sandbox" in the field of the capital market and in its framework to approve:
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