ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 2, 1997 No. 698

About approval of the Regulations on conditions and payment procedure of the indexed amounts on population deposits

According to the Law of the Kyrgyz Republic "About recovery and protection of savings of citizens of the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on conditions and payment procedure of the indexed amounts on population deposits.

2. Bring the Provision approved by this resolution on coordination in General Court of Jogorku Kenesh of the Kyrgyz Republic.

3. Determine that this resolution becomes effective from the moment of acceptance of Jogorku Kenesh of the Kyrgyz Republic of the relevant decision by General Court.

4. Publish this resolution in mass media.

Approved by the order of the Government of the Kyrgyz Republic of December 2, 1997 No. 698

Regulations on conditions and payment procedure of the indexed amounts on population deposits

General provisions

1. OJSC Settlement and Savings Company according to the order of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic of September 16, 1997 N536 "About measures for implementation of the Law of the Kyrgyz Republic "About recovery and protection of savings of citizens of the Kyrgyz Republic" is agent of the Government of the Kyrgyz Republic on carrying out recovery of the following values and cash savings of citizens:

- all types of the money deposits placed in organizations of Kyrgyzelbank as of January 1, 1992;

- bonds of the State 15 percent internal premium bonds of the Kyrgyz Republic of 1993;

- bonds of the State treasury obligations of the USSR of 1990;

- bonds of the State target non-interest loan of 1990.

2. Payment of obligations of the Kyrgyz Republic for recovery and ensuring safety of value of cash savings of citizens of the Kyrgyz Republic is performed by OJSC Settlement and Savings Company according to the Law of the Kyrgyz Republic "About recovery and protection of savings of citizens of the Kyrgyz Republic".

3. Citizens of the Kyrgyz Republic, and also citizens of the former USSR have the right to recovery and safety of value of cash savings.

4. Payment of the added amounts of guaranteed savings of citizens is made:

- from January 1, 1998 to January 1, 1999 - to the disabled people, participants of the Great Patriotic War, persons equated to them and also persons which reached 70-year age is also more senior;

- from January 1, 1999 to January 1, 2000 - to persons aged from 60 up to 70 years;

- from January 1, 2000 to January 1, 2001 - to persons aged from 50 up to 60 years;

- from January 1, 2001 to January 1, 2002 - to persons aged from 40 up to 50 years;

- from January 1, 2002 to January 1, 2003 - to persons aged from 30 up to 40 years;

- from January 1, 2003 to January 1, 2004 - to persons 30 years are younger.

5. Recovery of value of all types of money deposits is made regardless of that, the investor withdrew money from the account or closed personal account in the years ahead or not, by indexation of their remaining balance as of January 1, 1992 using coefficients:

to 2500 rubles in the ratio 1 som to 1 ruble;

from 2501 to 5000 rubles in the ratio 1 som to 20 rubles;

from 5001 to 10000 rubles in the ratio 1 som to 30 rubles;

over 10000 rubles in the ratio 1 som to 40 rubles.

6. Recovery of value of bonds of the State 15 percent internal premium bonds of the Kyrgyz Republic of 1993, bonds of the state treasury obligations of the USSR of 1990, bonds of the State target non-interest loan of 1990 is made using coefficient 20.

7. At the request of the investor the indexed amount exceeding two thousand som can be extinguished by the securities of the Kyrgyz Republic providing the recovered cost of savings in full, or the stocks of the privatized companies owned by the state, intended for realization on money auction or which are in use in the security market and also by carrying out offsets on the income tax in case of submission by citizens of declarations on the income.

8. The compensation amounts annually, before their complete issue, are indexed at size of increase in prices for the consumer goods and services entering the minimum consumer budget calculated by National Statistical Committee of the Kyrgyz Republic.

Increase in prices level for indexation added, but the outstanding amounts undertakes since January 1, 1998 and once a year after publication of official statistical data, since January 1, 1999 is charged.

9. The money made in Kyrgyzelbank after January 1, 1992, and also received by investors as a result of closing of personal account till December 31, 1991 inclusive is not subject to indexation.

10. In the presence at one investor of several personal accounts of indexation money of each account separately is subject.

11. For the purpose of permission of the arising matters of argument on charge and payment of the indexed amounts the commission consisting of representatives of the Ministry of Finance of the Kyrgyz Republic, National Bank of the Kyrgyz Republic, the Ministry of Justice of the Kyrgyz Republic, OJSC Settlement and Savings Company is created. The commission sits once a month and passes the decisions according to the arrived statements.

12. No. 184 is excluded by the Order of the Government KR of April 10, 1998

13. The costs of OJSC Settlement and Savings Company connected with opening of special accounts and charge on them the recovery amounts are compensated by the Ministry of Finance of the Kyrgyz Republic.

14. Funds for payment of the indexed amounts are transferred by the Ministry of Finance of the Kyrgyz Republic taking into account the cost of the buildings of Kyrgyzelbank transferred to OJSC Settlement and Savings Company according to appendix to the order of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic of September 16, 1997 N536 "About measures for implementation of the Law of the Kyrgyz Republic "About recovery and protection of savings of citizens of the Kyrgyz Republic".

Payment procedure of the indexed amounts

15. Payment of the indexed amounts is made through branches of OJSC Settlement and Savings Company within the funds allocated by the Ministry of Finance of the Kyrgyz Republic.

16. Control of correctness of payments of the added amounts is imposed on directors of branches of OJSC Settlement and Savings Company.

17. Monthly to the 15th following for reporting OJSC Settlement and Savings Company submits to the Ministry of Finance of the Kyrgyz Republic the report on use of the funds allocated for payment of the indexed amounts and also on bond buyback of the State 15 percent internal premium bonds of the Kyrgyz Republic, bonds of the State treasury obligations of the USSR of 1990 and the State target non-interest loan of 1990. The report form is approved by both parties.

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