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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of December 21, 2009 No. 322

About approval of the Regulations on procedure for development, approval, modification and amendments in standards of assessment of property

(as amended on 14-04-2020)

According to article 9 of the Law of the Republic of Uzbekistan "About estimative activities" the Cabinet of Ministers decides:

1. Approve Regulations on procedure for development, approval, modification and amendments in standards of assessment of property, according to appendix.

2. To the State Property Committee of the Republic of Uzbekistan together with the interested ministries and departments in two-month time to bring the regulatory legal acts into accord with this resolution.

3. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Azimov R. S.

Prime Minister of the Republic of Uzbekistan

Shavkat Mirziyoyev

 

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of December 21, 2009 No. 322

Regulations on procedure for development, approval, modification and amendments in standards of assessment of property

I. General provisions

1. This Provision determines procedure for development and approval of new standards of assessment of property, and also modification and amendments and recognition voided the existing standards of assessment of property.

2. State body, authorized and responsible for timely development or review of standards of assessment of property, carrying out their coordination, approval and state registration as regulatory legal act, the authorized body on regulation of estimative activities is (further - authorized body).

3. Standards of assessment of property shall be developed within the legislation of the Republic of Uzbekistan and to be interconnected with National accounting standards of the Republic of Uzbekistan.

4. Standards of assessment of property can be reviewed before the expiration of their action in connection with changes in the legislation on estimative activities or at the initiative of authorized body.

5. The authorized body brings the standards of assessment of property approved in accordance with the established procedure to data of the estimative organizations and exercises control of their observance.

6. For the purpose of practical application of standards of assessment of property as application to them the corresponding methodical instructions which are integral part of these standards and operating together with them can be developed.

II. Requirements to standards of assessment of property

7. Standards of assessment of property represent complex of the interconnected regulations and rules determining:

concepts and valuation principles;

the terms and determinations applied in estimative activities;

requirements to cost types;

requirements to initial information;

procedure for evaluating;

features of application of evaluation methods;

requirements to registration of results of assessment;

other requirements.

8. Concepts and valuation principles explain the basic legal and economic concepts on which estimative activities and standards of assessment of property are based.

9. Terms and determinations open essence and value of the main and special terms used in standards of assessment of property.

10. Requirements to cost types determine and explain essential signs market and other than the market bases of cost established by standards of assessment of property for their application and also determine distinctions between types of the costs provided by standards of assessment of property.

11. Requirements to initial information determine nature, content and amount of information necessary for evaluating object of assessment.

12. The procedure for evaluating determines stages and the sequence of actions in case of assessment object assessment.

13. Features of application of evaluation methods are revealed procedure for the choice of this or that evaluation method proceeding from the purpose of assessment and specifics of object of assessment.

14. Requirements to registration of results of assessment determine form of presentation of the valuation report, the sequence and logical coherence of the provided quantitative and high-quality information.

15. Standards of assessment of property can contain also other requirements directed to streamlining of process of assessment.

III. Requirements to execution of standards of assessment of property

16. The statement of requirements of standards of assessment of property shall be short and accurate, excluding possibility of various interpretation.

17. Depending on amount and content standards of assessment of property are subdivided into the separate Sections having the names. Sections shall be numbered by the Roman figures, subitems of all Sections are designated by end-to-end numbering in the Arab figures.

18. Each Item of the standard of assessment of property shall contain one finished normative instruction.

19. Tables, schedules, cards, schemes, samples of documents and forms it is necessary to place in appendices, and in the text to specify the corresponding references.

20. Execution of the standard of assessment of property shall conform to the established requirements of preparation and adoption of regulatory legal acts.

IV. Procedure for coordination and approval of standards of assessment of property

21. Developed standards of assessment of property are sent for approval in the interested ministries and departments if the draft standard of assessment of property contains the regulations infringing on interests or competence of other ministries and departments.

22. The approved draft standard of assessment of property shall contain the final provisions specifying its coordination with the signatures of heads of the approving ministries and departments confirmed with seal of the relevant ministry and department.

23. Standards of assessment of property are subject to state registration in the Ministry of Justice of the Republic of Uzbekistan.

V. Modification and amendments or recognition voided standards of assessment of property

24. Modification and amendments in standards of assessment of property or recognition their invalid is performed by authorized body.

25. Offers on modification and amendments or recognition voided earlier accepted standard of assessment of property in connection with preparation of the new standard of assessment of property shall be prepared along with project development of such standard.

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