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Ministry of Justice

Republic of Uzbekistan

On June 8, 2023 No. 3441

RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of May 5, 2023 No. 10/5

About approval of the Regulations on requirements to acquisition and real estate holding and other property, and also to acquisition of shares or shares in authorized fund (authorized capital) of legal entities commercial banks

According to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and "About banks and banking activity" the board of the Central bank of the Republic of Uzbekistan DECIDES:

1. Approve Regulations on requirements to acquisition and real estate holding and other property, and also to acquisition of shares or shares in authorized fund (authorized capital) of legal entities by commercial banks according to appendix No. 1.

2. Recognize invalid some departmental regulatory legal acts according to appendix No. 2.

3. This resolution becomes effective after three months from the date of its official publication.

Chairman of the Central bank

Nurmuratov M. B.

 

Appendix No. 1

to the Resolution of Board of the Central bank of the Republic of Uzbekistan of May 5, 2023 No. 10/5

Regulations on requirements to acquisition and real estate holding and other property, and also to acquisition of shares or shares in authorized fund (authorized capital) of legal entities commercial banks

This Provision determines requirements imposed to acquisition and real estate holding and other property and also to acquisition of shares or shares in authorized fund (authorized capital) of legal entities by commercial banks (further - bank).

Chapter 1. Requirements to acquisition and ownership of bank of the real estate and other property

§1. General provisions

1. According to requirements of this provision the real estate and other property necessary for implementation of banking activity includes:

the buildings belonging to bank and other constructions (office buildings, warehouse, garage, kitchen, training center, the objects of social infrastructure) necessary for banking activity and complete implementation of work;

the vehicles used in banking activity (cars, lorries and other vehicles);

furniture, computers, devices for buildings, office and other equipment acquired for implementation of banking activity;

devices for implementation of calculations with payment cards, ATMs, terminals, servers and other equipment;

the fixed assets provided in operating lease;

main warehouse means;

the invaluable and fast-worn-out objects, and also other values acquired by bank and which are stored in warehouse including the materials intended for repair of the building and other fixed assets of bank;

means of bank in the banks liquidated or being in process of liquidation.

2. According to requirements of this provision to the real estate and other property which is not necessary (not used) for implementation of banking activity, belongs:

the bought land;

the real estate and other property collected due to pledge;

the real estate and other property of the liquidated companies - bankrupts, collected on the credit and leasing;

the real estate intended for income acquisition from leasing and for growth of the capital or for both purposes;

the real estate and other property acquired for implementation of banking activity, but which is not used more than three years in banking activity and (or) as investment.

3. Aggregate value of the real estate and other property necessary or not being necessary (not used) for implementation of banking activity, shall not exceed the single size of the regulatory capital of bank of the first level.

4. When calculating aggregate value of the real estate and other property necessary or not being necessary (not used) for implementation of banking activity, it is considered:

the cost of fixed assets, design and exploration work, construction materials, work, the expenses connected with construction (reconstruction) of buildings (constructions), and also other capitalized expenses connected with acquisition of fixed assets inclusive;

less the amount of cumulative depreciation and reserves created for compensation of potential losses on this real estate and other property.

§2. Requirements to acquisition and real estate holding and other property

5. Banks for implementation of banking activity, if necessary, can acquire and own the real estate and other property.

6. Banks shall make the decision on temporary real estate holding and other property which is not necessary (not used) for implementation of banking activity, and also on measures for their realization or use within three years.

7. If realization of the real estate and other property which is not necessary (not used) for implementation of banking activity, includes financing of the buyer by bank - the seller, the bank shall accept this transaction as crediting. At the same time the bank shall fulfill the requirements established concerning crediting.

8. Recognition of the real estate and other property, not being necessary (not used) for implementation of banking activity, begins with the following date:

from the date of transition to bank of the property right to the real estate and other property which is not used when implementing banking activity;

from the date of completion of moving of bank from one building to other building;

from the date of decision making about non-use acquired (being in ownership) the real estate and other property necessary for implementation of banking activity;

from the date of transition to the order of bank of the real estate and other property collected due to pledge.

9. Authorized body of bank board in case of decision making to use when implementing banking activity the real estate and other property which is not necessary (not used) for implementation of banking activity, after three years since the corresponding term, stipulated in Item 8th this provision, shall develop and approve the exact plan of use of this real estate and property.

At the same time this plan shall include the specific actions which are subject to implementation in final and intermediate terms and also to provide the beginning of use of the real estate and other property which is not necessary (not used) for implementation of banking activity, within two years from the moment of approval of this plan.

Chapter 2. Requirements to acquisition by banks of shares or shares in authorized fund (authorized capital) of legal entities

10. Banks can perform the transactions connected with securities according to acts of the legislation based on the license for the right of implementation of the banking activity granted by the Central bank.

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