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The document ceased to be valid since  November 9, 2015 according to Item 1 of the Resolution of the State committee of the Republic of Uzbekistan on privatization, demonopolization and development of the competition, the Ministry of Finance of the Republic of Uzbekistan of November 2, 2015 No. No. 01/09-26/24, 96 "About recognition voided Regulations on evaluation procedure of net assets of privatization investment fund, and also changes to it"

It is registered

Ministry of Justice

Republic of Uzbekistan

On April 14, 1999 No. 703

Approved by the Resolution of the State Property Committee of the Republic of Uzbekistan, the Ministry of Finance of the Republic of Uzbekistan of December 31, 1998 No. No. 15, 30-01-12/333

(as amended on on February 2, 2009)

Regulations on evaluation procedure of net assets of privatization investment fund

I. General provisions

1.1. This provision is developed according to resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of June 18, 1996 N 220 "About measures for the organization of activities of investment funds", of September 25, 1998 N 410 "About measures for enhancement of activities of investment and privatization investment funds", and regulates evaluation procedure of property value, cost determination of net assets, determinations of estimated cost of one share of the Privatization investment fund (further referred to as - mutual fund).

From the moment of registration of this provision the "Provision on evaluation procedure of net assets of privatization investment fund" registered by the Ministry of Justice of the Republic of Uzbekistan for N 270 of 12.08.96 voids.

1.2. Assets of mutual fund are understood as the property of mutual fund consisting of financial investments, money and means in calculations, except for unpaid part of the Authorized capital (debt of shareholders on fees in the Authorized capital).

1.3. As obligations of mutual fund it is understood short-term obligations of mutual fund (debt on contributions to the budget, off-budget funds, etc.) and long-term obligations (special public credit).

1.4. Net assets of mutual fund are understood as the size determined by way of subtraction from the amount of assets of size of obligations of mutual fund. At the same time individual clauses of assets of mutual fund can be revaluated taking into account their market value.

1.5. Assessment and calculation of net assets value of mutual fund is made for the purpose of: determinations of estimated cost of shares of mutual fund in the secondary security market; performance appraisals of the trustee investment assets (further - the trustee) mutual fund and determination of the amount of its remuneration.

1.6. Listing is understood as entering of shares of the joint-stock companies into the share list which are quoted in certain organized market of securities.

II. Frequency of evaluating net assets of mutual fund

2.1. Regular assessment of net assets of mutual fund.

The regular value assessment of net assets of mutual fund is carried out quarterly on the first, following the accounting period.

The authorized state body on regulation of the security market (further - authorized body) can establish other frequency of carrying out regular assessment of net assets.

Shareholders of mutual fund shall be informed on frequency of evaluating net assets until purchase of shares by them. Information on changes of frequency of evaluating shall be brought by the trustee of mutual fund to the attention of all shareholders.

Results of regular assessment are reflected in the report on forming of net assets and the current financial reporting.

2.2. Additional value assessment of net assets of mutual fund. In addition to regular value assessment of net assets the trustee of mutual fund performs additional estimates in case of approach of circumstances as a result of which the weight of evidence suggests that net assets value counting on one paid share of mutual fund increased or decreased by 10 and more percent since carrying out the last assessment. Besides, the Supervisory board of mutual fund has the right to demand from the trustee of carrying out additional value assessment of net assets if they have good causes to consider that revaluation is necessary for the benefit of shareholders of mutual fund at own discretion at any time.

Results of additional estimates in time no more than 3 days from the moment of its carrying out are brought by the trustee to the attention of the Supervisory board and shareholders of mutual fund.

In case of reduction in cost of net assets the trustee together with the Supervisory board of mutual fund is lower than 75 percent from the total cost of the paid Authorized capital added the capital and the reserve capital shall convene general shareholder meeting.

III. Cost determination of net assets of mutual fund

3.1. Join in structure of the assets of mutual fund considered in case of cost determination of net assets of mutual fund:

financial investments (securities);

the dividends which are due to mutual fund;

the percent on securities added by day of assessment;

money, means in calculations (except for calculations for fees in the Authorized capital).

3.2. In case of cost determination of net assets of mutual fund the total cost of obligations of mutual fund is excluded from total cost of assets of mutual fund. All assets and liabilities of mutual fund are considered on their book value.

3.3. In case of determination of net assets counting on one paid share of mutual fund the total amount of net assets is divided into total quantity of paid shares of mutual fund.

Cost determination of net assets of mutual fund is made in monetary unit of the Republic of Uzbekistan.

IV. Evaluation procedure and asset revaluations of mutual fund

4.1. The purchased securities are registered in financial accounting at the price of their acquisition. All revaluations of securities are reflected in their book accounting value.

4.2. Any portfolio securities of mutual fund included in listing and which are quoted in the stock exchange market shall be by the end of the reporting period overpriced to weighted average price on which these securities were on sale in this accounting period.

If the securities which are in ownership of mutual fund are included in listing and are quoted more than in one organized market, then base for assessment that organized market which has the greatest amount of transactions on these securities in this accounting period is chosen.

4.3. Any portfolio securities of mutual fund which are not included in listing, but on sale in the secondary stock exchange market are estimated on the transaction price, weighted average for the accounting period, if they were on sale at least than two legal entities and the amount of transactions made at least 5% of total quantity of securities of one category issued by this issuer.

Weighted average price and amount of transactions, according to items 4.2., 4.3. this provision, are determined by organizers of the biddings and are brought by them to the attention of mutual funds.

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