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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of April 24, 2008 No. PP-843

About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services

(as amended on 24-07-2021)

Note that in the republic the necessary legislative legal base for implementation of estimative activities is created, economic incentives for its active development are created, the procedure for issue of licenses is significantly simplified.

At the same time practical activities of the estimative organizations do not meet the increased modern requirements. Estimative works in some cases are carried out formally and at the low professional level, due responsibility of the estimative organizations for objectivity of assessment of actual cost of the privatized objects and quality of the rendered services is not provided.

According to the Law of the Republic of Uzbekistan "About estimative activities" and for the purpose of further development of system of independent assessment, increase in professional level and quality of estimative services, implementation of effective methods of regulation of activities of the estimative organizations, strengthening of their responsibility for results and objectivity of the performed estimative works:

1. Recognize unsatisfactory the work which is carried out by the State Property Committee of the Republic of Uzbekistan in the field of ensuring activities of the estimative organizations, first of all in questions of development and deployment of the standards and other regulating documents regulating estimative activities, control of objectivity and quality of the performed estimative works.

2. Determine that since July 1, 2008 estimative activities are performed by exclusively legal entities.

Determine that the estimative organizations performing:

assessment of personal estate, except for securities, shares, intellectual property items and other intangible assets - shall have the authorized capital equal 1500-fold basic settlement size, and at least two regular appraisers suffices;

real estate appraisal, except for the companies as property complex - shall have the authorized capital equal 2000-fold basic settlement size, and at least three regular appraisers suffices;

business valuation (the company as property complex, all types of tangible and intangible assets) - shall have the authorized capital equal 2500-fold basic settlement size, and at least four regular appraisers suffices.

3. Approve Regulations on the estimative organizations and appraisers according to appendix.

To provide to the operating estimative organizations till September 1, 2008 finishing the sizes of the authorized capital and execution of mandatory requirements on the organization of activities and licensed conditions established in Regulations on the estimative organizations and appraisers.

4. To Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent, State Property Committee of the Republic of Uzbekistan:

till September 1, 2008 to make in accordance with the established procedure re-registration and issue of licenses for implementation of estimative activities of new sample to the operating estimative organizations which are completely meeting the requirements and conditions of the Regulations on the estimative organizations and appraisers;

together with the State Tax Committee to take measures for the termination since September 1, 2008 in accordance with the established procedure of activities of the estimative organizations which are not meeting the requirements and conditions of the Regulations on the estimative organizations and appraisers.

5. To the State Property Committee of the Republic of Uzbekistan:

together with the Ministry of Justice of the Republic of Uzbekistan in two-month time to introduce in accordance with the established procedure in the Cabinet of Ministers of the Republic of Uzbekistan offers on procedure for the organization of examination of reliability of valuation reports, having provided creation of commission of experts on conducting examination of materials according to assessment objects in disputable situations on requests of judicial authorities;

take measures for enhancement of the procedure of holding the qualification examinations on receipt of the qualification certificate of the appraiser providing transparency and objectivity when holding examinations.

6. To the State Property Committee, the Ministry of Justice of the Republic of Uzbekistan together with the interested ministries and departments in a month:

make in the Cabinet of Ministers offers on the changes and amendments in the legislation following from this resolution;

provide reduction of regulations of the ministries and departments in compliance with this resolution.

7. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Azimov R. S.

 

President of the Republic of Uzbekistan

I. Karimov

Appendix

to the Resolution of the President of the Republic of Uzbekistan of April 24, 2008 No. PP-843

Regulations on the estimative organizations and appraisers

I. General provisions

1. This Provision is developed according to the Laws of the Republic of Uzbekistan "About estimative activities", "About licensing of separate types of activity" and determines the status, tasks, the rights, obligations and responsibility of the organizations performing estimative activities (further - the estimative organizations).

2. Estimative activities are understood as the activities of the estimative organization directed to establishment of project cost of assessment.

3. The estimative organization is the legal entity who is members of professional public association of the estimative organization and having, separate balance, accounts in banks.

The estimative organization has the right to have seal with the name.

4. Appraiser is the physical person having the qualification certificate of the appraiser.

The appraiser can be involved by the estimative organization in evaluating if he is on the staff of the estimative organization, or in case of the conclusion with it the estimative organization of the agreement of civil nature.

5. The estimative organizations in the activities are guided by the Constitution of the Republic of Uzbekistan, the laws of the Republic of Uzbekistan, resolutions and other acts of Oliy Majlis of the Republic of Uzbekistan, Decrees, resolutions and orders of the President of the Republic of Uzbekistan, resolutions and orders of the Cabinet of Ministers of the Republic of Uzbekistan, other regulations, and also this Provision.

6. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 13.07.2021 No. UP-6261

II. Main objectives of the estimative organizations

7. The main objectives of the estimative organizations are:

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