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Ministry of Justice

Republic of Uzbekistan

On March 9, 2009 No. 1919

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 March 4, 2009 No. 2009-18

About approval of the Regulations on the accounting register of off-exchange security transactions

(as amended on 04-04-2024)

This Provision determines procedure for maintaining the accounting register of the off-exchange security transactions made in the unorganized over-the-counter market, and their registration of the security market by professional participants.

Requirements of this provision extend to off-exchange transactions with shares, corporate and infrastructure bonds, and also derivatives of securities.

1. Approve Regulations on the accounting register of off-exchange security transactions according to appendix.

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

CEO

K.F.Tolipov

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

Regulations on the accounting register of off-exchange security transactions

This Provision according to the Law of the Republic of Uzbekistan "About the security market" and other regulatory legal acts determines procedure for maintaining the accounting register of the off-exchange security transactions made in the unorganized over-the-counter market, and their registration of the security market by professional participants.

Requirements of this provision extend to off-exchange transactions with shares, corporate and infrastructure bonds, and also derivatives of securities.

I. General provisions

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

pledge of securities (further - pledge) - transfer by one person to another of securities or the rights to them on security obligations;

the pawnbroker - the creditor according to the obligation provided with pledge;

the pledger - the owner of the securities pledged;

the unorganized over-the-counter market - the sphere of placement and security circulation outside trade systems (trading floors) of stock exchanges, share departments of the currency exchanges and organizers of the off-exchange biddings by securities, and also pledge of securities;

the alienor of securities (further - the alienor) - the legal entity or physical person which is the owner of securities, making the off-exchange security transactions leading to change of their owner, the testator, the donator, and also the joint-stock company making off-exchange transactions on alienation of own securities to their first owners;

the acquirer of securities (further - the acquirer) - the legal entity or physical person acquiring securities at the alienor and also the heir, the donee;

registrar - Central Securities Depository (further - TsD) or the investment intermediary, performing, registration of the security transactions made in the unorganized over-the-counter market (further - off-exchange security transactions) according to the legislation;

the party of off-exchange security transaction - the person who is concluding or concluded off-exchange security transaction;

transfer agent - the legal entity rendering services in acceptance, processing and document transfer, belonging to system of accounting of the rights to securities;

authorized state body on regulation of the security market - the National agency of perspective projects of the Republic of Uzbekistan;

the authorized representative of the alienor, the acquirer, the pledger (further - the authorized representative) - the official of the legal entity, the authorized representative of physical person or legal entity, the official of the trustee investment assets;

Organizers of the biddings by securities - the stock exchange and the currency exchange which created share department;

the accounting register of off-exchange security transactions - the magazine in paper and electronic forms containing data on all off-exchange security transactions registered by the registrar.

2. Off-exchange security transactions are made in written or electronic form and are subject to registration according to the procedure, established by this Provision, in case of:

securities disposal to the first owners by the conclusion of the relevant agreements, except for the bargains concluded on platforms of the organizer of the biddings;

the redemption joint-stock company of own shares upon the demand of shareholders, except for the bargains concluded on platforms of the organizer of the biddings;

securities disposal to the first owners by the conclusion of the relevant agreements;

the redemption joint-stock company of own shares upon the demand of shareholders;

entering of securities into authorized funds of legal entities;

to exchange;

donation;

inheritance;

pledge;

other off-exchange security transactions leading to change of the owner.

II. Requirements to off-exchange security transactions

3. In the unorganized over-the-counter market the conclusion and registration of transactions is forbidden if:

issue of securities is not registered or cancelled, acknowledged cancelled or invalid;

securities are not at the disposal of the alienor at the time of their conclusion;

placement or security circulation is suspended at the time of their conclusion;

securities are pledged or other obligations (if other is not established by the agreement);

restrictions are imposed on placement and security circulation;

shares and corporate bonds are issued in the form of forms and certificates (before their delivery in TsD);

the securities which are on the custody account of their owner completely are not paid;

shares are placed on open subscription;

shares is implemented according to the transaction of purchase and sale in the secondary market if other is not stipulated by the legislation.

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