RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of July 19, 2008 No. 16/2

About approval of the Regulations on procedure for use by individual entrepreneurs of bank cards in national currency

1. Approve Regulations on procedure for use by individual entrepreneurs of bank cards in national currency according to appendix.

2. This resolution becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Approved by the Resolution of Board of the Central bank of the Republic of Uzbekistan of July 19, 2008 No. 16/2

Regulations on procedure for use by individual entrepreneurs of bank cards in national currency

I. General provisions

1. In this Provision the following main terms are used:

bank card in national currency of the individual entrepreneur (further - bank card of the individual entrepreneur) - the payment card issued by bank to the individual entrepreneur, granting the right to the holder of bank card of the individual entrepreneur to make payments with use of the money which is on the card account for goods, works or services in non-cash form in national currency;

the holder of bank card of the individual entrepreneur - the individual entrepreneur using bank card based on the contract with the issuer. At the same time the individual entrepreneur has no right to delegate powers of the holder of bank card to other person;

the card account - the bank account of which money it is possible to dispose by means of bank card of the individual entrepreneur;

trade enterprise and services - the legal entity or the individual entrepreneur selling products, performing works and rendering services which according to the agreement with ekvayer-bank assume obligation on acceptance of payments for goods (works, services), the bank cards of the individual entrepreneur performed with use.

2. Issue of bank cards of the individual entrepreneur is performed according to Regulations on procedure for the bank card issue commercial banks and their addresses in the Republic of Uzbekistan (registration number No. 1344 of April 30, 2004 - the Collection of the legislation of the Republic of Uzbekistan, 2004, No. 17, the Art. 203). On the face of bank card of the individual entrepreneur as obligatory details of bank card, it shall be specified "individual entrepreneur" and surname, name and middle name of the individual entrepreneur.

3. The cash accounting, the calculations intended for implementation with use of bank cards of the individual entrepreneur, is kept according to the Chart of accounts of financial accounting in commercial banks of the Republic of Uzbekistan (registration number No. 773-17 of August 13, 2004,-the Collection of the legislation of the Republic of Uzbekistan, 2004, No. 32, the Art. 369) on the balance sheet account No. 22619 - "Obligations of individual entrepreneurs on bank plastic cards".

II. The transactions performed with use of bank cards of the individual entrepreneur

4. Replenishment of the card account money is performed based on the payment order of the individual entrepreneur who opened the card account from its main on-demand deposit account.

5. Calculations with use of bank cards of the individual entrepreneur are perfromed according to Regulations on clearing settlements in the Republic of Uzbekistan (registration number No. 1122 of April 15, 2002, - the Bulletin of regulations, 2002, No. 7).

6. From bank cards of the individual entrepreneur payment only of the following expenses which are directly connected with its productive, trading activity, activities for rendering services and performance of works is allowed:

a) purchases of raw materials and materials (including construction materials), semifinished products, fitment, equipment;

b) utility payments (payments for heating, hot water, drinking water, sewerage, electric power, gas and garbage removal);

c) lease payments;

d) taxes and other obligatory payments;

e) for the acquired individual entrepreneurs who are engaged in retail trading activity, goods for the purpose of their realization to the population in cash;

e) for payment of other expenses connected with the current activities.

7. When implementing payment of taxes and other obligatory payments by individual entrepreneurs by means of bank card in non-cash form it is necessary to specify its INN (identification taxpayer number).

8. The money spent for cashless payment with use of bank cards of the individual entrepreneur is the means which are subject to use on strictly particular purposes.

9. When implementing payment for the goods and services specified in Item 6 of this Provision by means of bank card of the individual entrepreneur reporting documents are the originals of receipts of terminals, accounts and receipts attached to them, signed by the employee accepting the corresponding payment via the terminal with sealed "is paid", other documents according to the legislation.

At the same time between the parties, that is between the seller and the owner of bank card, the relevant agreement shall be without fail signed.

10. Return of funds from the card account to the main on-demand deposit account is performed based on the payment order.

In case of the termination of activities of the individual entrepreneur according to the legislation its unspent funds on the card account are transferred on its main on-demand deposit account.

11. Cash disbursement of money through bank card of the individual entrepreneur is not allowed.

III. Responsibility for legality of the performed transactions

12. Responsibility for legality of the transactions performed through bank cards of the individual entrepreneur is assigned to the individual entrepreneur who opened the card account.

IV. Final provisions

13. This Provision is approved with the State Tax Committee of the Republic of Uzbekistan and Banking association of Uzbekistan.

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