RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of February 1, 2019 No. PP-4146

About measures for further simplification of insolvency proceeding and radical enhancement of activities of judicial managing directors

For the purpose of further simplification of insolvency proceeding, enhancement of activities of judicial managing directors, improvement of line item of the Republic of Uzbekistan in the international ratings, and also in pursuance of the tasks determined in the State program by strategy implementation of actions in five priority directions of development of the Republic of Uzbekistan in 2017 - 2021 in "Year of active investments and social development":

1. Approve the offer of the Agency on management of the state assets, the State Tax Committee of the Republic of Uzbekistan, Association of judicial managing directors of Uzbekistan about establishment since July 1, 2019 about according to which:

bodies of Tax Service take a legal action with the statement for initiation of proceedings for insolvency concerning the debtor no later than 30 days from the date of return of executive documents in connection with impossibility of debt collection on taxes and fees;

the term of the procedure of liquidating production cannot exceed twelve months, in exceptional cases this term can be extended by the judgment, but no more than for three months, based on the petition of persons participating in the case of insolvency;

the court verdict which took legal effect about establishment of signs of pseudo-insolvency, concealment of insolvency or deliberate insolvency as a result of actions of person as founder (participant) having the right to give obligatory instructions to the legal entity, or owner of property of the legal entity or persons to whom legal acts assign obligations on management is the basis for involvement of such persons to subsidiary responsibility according to the procedure, established by legal acts;

the property of debtors to whom procedures of insolvency are applied is subject to realization by judicial managing directors through electronic online auction on E-auksion electronic trading platform or the competitive biddings on this platform in the cases provided by legal acts.

2. Enter since March 1, 2019 at the Republican higher school of business and management of Abu Raykhan Beruni under the National agency of project management in case of the President of the Republic of Uzbekistan (further - the Republican higher school) the special rates providing:

training at contractual basis of applicants for receipt of the certificate of the judicial managing director in the special program;

issue of the certificate on training which is the basis for receipt of the certificate of the judicial managing director of the corresponding category;

increase in professional level and qualification of judicial managing directors.

3. Determine that since May 1, 2019:

a) the procedure for appointment of judicial managing directors from number of persons employed of bodies of the State Tax Service when holding the simplified procedures of insolvency initiated according to statements of bodies of the State Tax Service is cancelled;

b) the procedure according to which when holding the simplified procedures of insolvency initiated according to statements of bodies of the State Tax Service is entered:

judicial managing directors designate the persons having the certificate of the judicial managing director of the fourth category and being members of Association of judicial managing directors of Uzbekistan (further - Association);

in case of application concerning the debtor - physical person of the procedure of insolvency and (or) concerning other debtor of the simplified procedure for insolvency if with the debtor other arrangement is not established, expenses on remuneration payment to the judicial managing director are covered at the expense of means of the Government budget by the tax authority which submitted the application for initiation of proceedings for insolvency concerning the debtor. At the same time the advance payment into the deposit account of court in triple size of basic settlement size is made for payment of remuneration of the judicial managing director;

c) activities of judicial managing directors can be also performed by the lawyers having licenses on specializations "civil and economic legal proceedings" and who received the certificate of the judicial managing director;

d) appointment of judicial managing directors is performed by court on representation of the creditor (general meeting or creditor committee) or authorized state body on cases on insolvency or Association and its territorial subdivisions taking into account rating assessment of activities of judicial managing directors.

4. Determine that for the purpose of assistance to increase in professional qualification of judicial managing directors, strengthening of their role in protection of legitimate interests of the Association physical persons and legal entities and its territorial subdivisions:

participate in project development of the regulatory legal acts regulating activities of judicial managing directors;

has the right to represent the rights and legitimate interests of judicial managing directors in the relations with state governing bodies;

develop and approve rules of professional ethics of judicial managing directors;

perform rating assessment of activities of judicial managing directors, monitoring of observance by them of the legislation, rules of professional ethics.

5. To agency on management of the state assets:

in a month together with the Republican higher school to develop and approve curricula and training programs and advanced trainings of judicial managing directors taking into account modern requirements and international standards;

in a month to take measures for the organization of training and advanced training of judicial managing directors at the Republican higher school;

in two-month time together with Association to approve Regulations on rating assessment of activities of judicial managing directors;

since April 1, 2019 to provide quarterly the publication in mass media and placement on the official website of information on rating assessment of activities of judicial managing directors.

6. Bureau of forced execution under the Prosecutor General's Office together with the Ministry of development of information technologies and communications, Agency on management of the state assets in two-month time to develop and submit for approval in the Provision of the Republic of Uzbekistan Cabinet of Ministers about procedure for realization of property of debtors to whom insolvency proceedings, on United electronic market place of "E-IJRO AUKSION" are applied.

7. To agency on management of the state assets together with the State Tax Committee, the Ministry of Justice till April 1, 2019 to develop and submit for approval in the Cabinet of Ministers of the Republic of Uzbekistan:

Regulations on procedure for training of applicants for receipt of the certificate of the judicial managing director and advanced training of judicial managing directors;

Regulations on judicial managing directors, procedure for their certification and issue of the competence certificate.

8. To the Prosecutor General's Office together with the Supreme Court till March 1, 2019 to bring in Legislative house of the Oliy Majlis of the Republic of Uzbekistan the bill providing strengthening of responsibility for pseudo-bankruptcy, concealment of bankruptcy and deliberate bankruptcy.

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