RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of June 8, 1994 No. 285

About measures for ensuring effective activities of Republican stock exchange "Toshkent" and development of infrastructure of the security market

For the purpose of ensuring effective activities of the Republican stock exchange "Toshkent" created according to the Presidential decree of the Republic of Uzbekistan of March 15, 1994 No. UP-789 "About the Priority Directions of Further Development of Process of Privatization and Privatization in the Republic of Uzbekistan", the Cabinet of Ministers decides:

1. Ceased to be valid

2. Approve Regulations on procedure for making and registration of security transactions in the territory of the Republic of Uzbekistan according to appendix No. 2.

3. Accept the offer of the State Property Committee of the Republic of Uzbekistan and Republican stock exchange "Toshkent" on organization them based on joint-stock company "The Uzbek information company "VAKT" of National Depositary open joint stock company.

4. To the State Property Committee, Ministry of Finance, Central bank of the Republic of Uzbekistan:

for the purpose of the advancing forming of information base for management of the stock market and processes of privatization, according to the state program on deepening of processes of privatization and privatization in the Republic of Uzbekistan of March 29, 1994 171, to provide to No. financing of material and technical resources of republican depositary network at the expense of part of the means arriving from privatization;

together with Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent to give practical help in the organization and placement of branches of National depositary and broker offices of Republican stock exchange "Toshkent";

together with the State committee on science and technology to take measures for financing growth in volumes for guarantors on the research and project works performed on scope of development of depositary technology and infrastructure of the stock market.

5. To the Ministry of Finance and Central bank of the Republic of Uzbekistan:

in a month to develop and approve rules of release, registration and accounting of security circulation in cash and non-cash form through National depositary;

to enter obligatory placement of the issues of securities registered in accordance with the established procedure in National depositary using electronic technology into three-months time and creation of the relevant computer banks of issuers and shareholders;

in a month to make offers on establishment of the general rules, annual quotas and procedure for the admission in security circulation issued by the issuers who are both under jurisdiction of the Republic of Uzbekistan and beyond its limits;

in two weeks together with the State Property Committee to make offers on the organization and effective activities of the National center for training of specialists of the security market and State it is information - telecommunication system of the stock market.

6. The State Property Committee of the Republic of Uzbekistan together with the interested ministries, departments, the companies and organizations:

provide exposure to Republican stock exchange "Toshkent" for free sale of shares of the joint-stock companies established based on the state companies and the organizations;

to systematically light the organization of work of the exchange and other institutes of the stock market in mass media.

7. ceased to be valid

8. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 22.05.2012 No. 140

9. Uzoptbirzhetorg associations (Sharonov) for the purpose of providing necessary conditions for functioning of Republican stock exchange "Toshkent" and JSC National Depositary to allocate necessary stock and the equipment according to their requests.

10. To provide to the Ministry of Communications of the Republic of Uzbekistan according to requests of Republican stock exchange "Toshkent" and JSC National Depositary with necessary means of communication, including specialized.

11. To the Ministry of Justice together with the Ministry of Finance of the Republic of Uzbekistan in two weeks to make offers on modification of the corresponding regulations of the Republic of Uzbekistan, following from this resolution.

12. To impose control of execution of this resolution on deputy prime ministers of the Republic of Uzbekistan Zheng V. A., Hamidova B. S.

Appendix No. 1

Voided

Appendix No. 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of June 8, 1994 No. 285

Regulations on procedure for making and registration of security transactions in the territory of the Republic of Uzbekistan

I. General provisions

1. This Provision according to the Law of the Republic of Uzbekistan "About the security market" determines procedure for transactions, connected with placement and security circulation, when preserving the rules of making of civil transactions provided by the civil legislation of the Republic of Uzbekistan.

2. Action of this provision extends on concluded in the territory of the Republic of Uzbekistan:

stock and off-exchange exchange transactions of purchase and sale of shares of the joint-stock companies issued by joint-stock companies of bonds, and also derivative securities.

2-1. The procedure for implementation of shares to labor collective of the privatized state organization is determined by the State committee of the Republic of Uzbekistan on privatization, demonopolization and development of the competition.

2-2. If the different way of determination is not established by rules of the exchange and off-exchange biddings, the market value of the share (share price) is determined as the final price of the bargain concluded on exchange or the over-the-counter market (provided that the quantitative amount of the transaction makes at least 5% of total quantity of the securities issued by the issuer).

3. it is excluded

4. it is excluded

II. Procedure for transactions of purchase and sale of securities

5. Making and registration of security transactions at the organized biddings by securities are performed electronically without the need for their written (paper) registration. Other security transactions are made in writing and are subject to registration according to the procedure, established by the legislation.

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