THE ORDER OF THE CEO OF THE CENTER FOR COORDINATION AND CONTROL OF FUNCTIONING OF THE SECURITY MARKET UNDER THE STATE PROPERTY COMMITTEE OF THE REPUBLIC OF UZBEKISTAN

of January 9, 2009 No. 2009-02

About approval of the Regulations on system of obligatory standard rates of professional participants of the security market, procedure for combination and restriction for combination of professional activity in the security market

According to the Law of the Republic of Uzbekistan "About the security market" (Collection of the legislation of the Republic of Uzbekistan, 2008, Art. No. 29-30, 278), the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 28, 2008 No. 160 "About additional measures for development of infrastructure of the security market" (Collection of the legislation of the Republic of Uzbekistan, 2008, Art. No. 31-32, 298) and the Regulations on the Center for coordination and market development of securities in case of Goskomkonkurention of the Republic of Uzbekistan approved by the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 30, 1996 No. 126 (Collection of the orders of the Government of the Republic of Uzbekistan, 1996, to No. 3, of the Art. 11), I order:

1. Approve Regulations on system of obligatory standard rates of professional participants of the security market, procedure for combination and restriction for combination of professional activity in the security market according to appendix.

2. Declare invalid the order of the CEO of the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan of September 11, 2003 No. 2003-15 "About approval of the Regulations on economic standard rates of activities of investment institutes" (reg. No. 1280 of September 30, 2003. Bulletin of regulations, 2003, No. 17-18).

3. This order 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 Order of the CEO of the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan of January 9, 2009 No. 2009-02

Regulations on system of obligatory standard rates of professional participants of the security market, procedure for combination and restriction for combination of professional activity in the security market

This Provision according to the Law of the Republic of Uzbekistan "About the security market", the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 28, 2008 No. 160 "About additional measures for development of infrastructure of the security market" and other acts of the legislation installs system of obligatory standard rates of professional participants of the security market, procedure for combination and restriction for combination of professional activity in the security market.

I. General provisions

1. In this Provision the following basic concepts are used:

system of obligatory standard rates of professional participants of the security market (further - system of obligatory standard rates) - the size of own means, obligatory for observance by the professional participant of the security market, in case of combination of professional activity in the security market;

professional activity in the security market (daleeprofessionalny activities) - the licensed type of activity on provision of services, connected with release, placement and security circulation;

the professional participant of the security market (the daleeprofessionalny participant) - the legal entity who performs professional activity in the security market;

authorized state body - the National agency of perspective projects of the Republic of Uzbekistan.

2. Requirements of this provision for observance of system of obligatory standard rates and submission of data on the size of own means do not extend to the Central Securities Depository, stock exchanges and the currency exchanges which created share departments and also to professional participants, being commercial banks and insurers.

II. System of obligatory standard rates

3. The minimum size of own means for each part of professional activity is established by the legislation.

4. The system of obligatory standard rates is determined by the greatest of requirements to the minimum size of own means established for the combined parts of professional activity.

The size of own means of person (license applicant), intended to perform part of professional activity, shall correspond at the time of filing of application on receipt of the license to the corresponding minimum size of own means, and in case of intention to combine professional activity - system of obligatory standard rates.

5. The size of own means of the professional participant throughout all term of professional activity shall correspond to the corresponding minimum size of own means, and in case of combination of professional activity - system of obligatory standard rates.

6. If the legislation establishes requirements to the minimum size of the authorized capital (fund) for form of business of the professional participant, other than requirements to the minimum sizes of own means and the system of obligatory standard rates installed by this Provision, the greatest of them is applied.

7. The professional participant quarterly, no later than the thirtieth following reporting represents to authorized state body of the data on the size of own means.

Calculation of the size of own means is made by the professional participant according to accounting data according to the procedure, established by the legislation.

8. The authorized state body has the right to make in accordance with the established procedure check of correctness of calculation by professional participants of the size of own means and reliability of the data provided by them.

III. Procedure for combination of professional activity

9. The combined (additional) part of professional activity according to the legislation and this Provision shall be compatible to the performed part of professional activity.

10. Combination in the security market of professional activity is allowed, except as specified, the this provision established by the Section IV:

a) the investment intermediary with professional activity of investment adviser, the trustee investment assets;

b) investment adviser with professional activity of the investment intermediary, trustee investment assets, transfer agent;

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