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IT IS REGISTERED

Ministry of Justice

Republic of Uzbekistan

On December 2, 2008 No. 1875

THE RESOLUTION OF THE CENTER FOR COORDINATION AND CONTROL OF FUNCTIONING OF THE SECURITY MARKET UNDER THE STATE PROPERTY COMMITTEE OF THE REPUBLIC OF UZBEKISTAN, THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON MANAGEMENT OF THE STATE-OWNED PROPERTY, THE MINISTRIES OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of November 7, 2008 No. 2008-33, 7 of November, 2008 No. 01/KKBFMNKM-18/19, 7 of November, 2008 No. 103, on November 7, 2008 No. 305-B

About approval of the Regulations on normative quality requirements and to the minimum level of investments into corporate securities by institutional investors

In pursuance of the resolution of the President of the Republic of Uzbekistan of September 27, 2006 N PP-475 "About measures for further market development of securities" (Collection of the legislation of the Republic of Uzbekistan, 2006, N 39, of the Art. 387, of Art. N51-52, 507), the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan, the State Property Committee of the Republic of Uzbekistan, the Ministry of Finance of the Republic of Uzbekistan and Board of the Central bank of the Republic of Uzbekistan decide:

1. Approve the enclosed Regulations on normative quality requirements and to the minimum level of investments into corporate securities by institutional investors.

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

 

CEO of the Center

on coordination and control

behind market functioning

securities under the State Property Committee

 

 

 

Tolipov K. F.

Chairman State,

management committee

state property

 

 

Musayev D. About

Minister of Finance

Azimov R. S.

Chairman

Central Bank

 

Mullazhanov F. M.

 

Approved by the resolution of the Center for coordination and control of functioning of the security market under the State Property Committee, the State Property Committee, the Ministry of Finance and Board of the Central bank of the Republic of Uzbekistan

Regulations on normative quality requirements and to the minimum level of investments into corporate securities by institutional investors

This Provision according to the Resolution of the President of the Republic of Uzbekistan of September 27, 2006 N PP-475 "About measures for further market development of securities" (The collection of the legislation of the Republic of Uzbekistan, 2006, N 39, of the Art. 387, of N 51-52, Art. 507) establishes quality requirements and to the minimum level of investments into corporate securities by institutional investors.

I. General provisions

1. Institutional investor in the security market (the daleeinstitutsionalny investor) are investment funds, insurers and commercial banks.

2. Institutional investors perform transactions with securities according to requirements of the legislation.

II. Main normative quality requirements of investments into corporate securities

3. For the purpose of quality assurance to investments into corporate securities the institutional investor develops the regulations on investment policy approved by body of its management in accordance with the established procedure.

4. The regulations on investment policy of the institutional investor shall provide the following:

a) powers on decision making and restrictions for transactions for persons who will perform transactions with securities;

b) qualification requirements for persons who will perform transactions with securities;

c) requirements to information system on monitoring of transactions with securities.

d) investment strategy and purposes (for example, profit earning, participation of the institutional investor in management of the issuer of securities, liquidity maintenance, compliance to mortgage requirements, etc.);

e) types and types of securities in which the institutional investor plans to invest means, terms of investments;

e) by means of what methods the institutional investor plans:

limit concentration of shares on issuers and industries of their activities;

estimate safety of investments at securities and their quality;

estimate financial position and managerial experience of issuers of securities;

perform investment diversification;

g) normative requirements to the minimum level of investments into corporate securities.

III. Normative requirements to the minimum level of investments into corporate securities

5. For the purpose of ensuring financial stability institutional investors shall invest the assets in corporate securities on the principles of reliability, diversification, recoverability, profitability and liquidity.

6. Investments of the institutional investor in authorized capital of one company, and also in other securities of this company it is performed according to requirements of the legislation and regulations on investment policy.

7. The institutional investor independently determines types and types of corporate securities by which he intends to establish the extent of the minimum level of investments. At the same time, the extent of the minimum level of investments into corporate securities is established by authorized body of the institutional investor according to its regulations on investment policy.

IV. Final provisions

8. Persons guilty of violation of requirements of this provision bear responsibility according to the procedure, established by the legislation.

9. This Provision is approved with the State committee of the Republic of Uzbekistan on demonopolization, support of the competition and entrepreneurship.

 

Acting Chairman State

committee of the Republic of Uzbekistan

on demonopolization, support

competition and entrepreneurship

Ulashov B. S.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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