RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of July 2, 1997 No. 336

About procedure for creation, state registration and liquidation of the companies with foreign investments in the Republic of Uzbekistan

According to the Decree "About the Additional Incentives and Privileges Provided to the Companies with Foreign Investments", and also for the purpose of simplification of procedure for creation and state registration of the companies with foreign investments in the territory of the Republic of Uzbekistan, decides stimulations of creation and effective activities of the joint Cabinet of Ministers production enterprises:

Confer on the Minister of Justice of the Republic of Uzbekistan the personal responsibility for strict observance by employees of the Ministry of Justice of the approved procedure and terms of creation and registration of the companies with foreign investments.

State registration of the companies with foreign investments is the basis for opening of currency accounts and implementation of foreign economic activity without their additional registration as participants of foreign economic activity.

2. Keep to the companies which underwent state registration till January 1, 1997, the status of the companies with foreign investments and guarantees according to the legislation existing at the time of state registration of the above-stated companies, on condition of accomplishment by founders of the obligations on forming of authorized fund in time, established by the foundation agreement.

Determine that the re-registration of changes and amendments in constituent documents, and also exception of the State register of the specified companies is performed by the Ministry of Justice of the Republic of Uzbekistan and its territorial authorities.

3. To the Ministry of Justice of the Republic of Uzbekistan together with the interested departments, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent in two weeks to develop and provide to the Cabinet of Ministers of the Republic of Uzbekistan the provision regulating registration of the companies with participation of the foreign legal entities and physical persons which are not relating to the companies with foreign investments.

4. To the ministry of external commercial relations together with the Ministry of Justice and the State Property Committee of the Republic of Uzbekistan to develop and approve regulations on procedure for creation and activities abroad of the companies, affiliated enterprises, branches and representations with participation of the legal entities and physical persons which are residents of the Republic of Uzbekistan in a month.

5. Ceased to be valid

6. Declare invalid the resolution of the Cabinet of Ministers of February 12, 1996 No. 55.

7. To impose control over the implementation of this resolution on the Prime Minister Sultanov U. T.

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