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Ministry of Justice

Republic of Uzbekistan

On April 30, 2005 No. 1473

RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, MINISTRY OF ECONOMICS OF THE REPUBLIC OF UZBEKISTAN, STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON MANAGEMENT OF THE STATE-OWNED PROPERTY AND SUPPORTS OF THE ENTREPRENEURSHIP

of March 14, 2005 No. No. 33, 53, 01/06-18/02

About approval of the Regulations on procedure of activities for management of the state blocks of shares (shares) in authorized capital of economic societies

(as amended on 22-11-2017)

According to the laws of the Republic of Uzbekistan "About joint-stock companies and protection of shareholder rights", "About societies with the limited and accessorial liability", resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of April 19, 2003 No. 189 "About measures for enhancement of corporate management by the privatized companies", of November 14, 2012 "About the organization of activities of the State committee of the Republic of Uzbekistan for privatization, demonopolization and development of the competition" and of June 11, 2013 No. 165 "About measures for the organization of activities of the Center for management of the state assets under the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition" the Ministry of Finance and the State committee of the Republic of Uzbekistan on management of state-owned property and support of entrepreneurship decide No. 322:

1. Approve the enclosed Regulations on procedure of activities for management of the state blocks of shares (shares) in authorized capital of economic societies.

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

Minister of Finance

Republic of Uzbekistan

 

S. Rakhimov

Chairman State

committee of the Republic of Uzbekistan

on management of state

property and supports

entrepreneurships

 

 

 

 

M. Askarov

Approved by the resolution of the Ministry of Finance and State Property Committee of the Republic of Uzbekistan of March 14, 2005 No. 33, No. 01/06-18/02

Regulations on procedure of activities for management of the state blocks of shares (shares) in authorized capital of economic societies

This Provision according to the laws of the Republic of Uzbekistan "About joint-stock companies and protection of shareholder rights", "About societies with the limited and accessorial liability", the Presidential decree of the Republic of Uzbekistan of April 18, 2017 No. UP-5016 "About Formation of the State Committee of the Republic of Uzbekistan on Assistance to the Privatized Companies and Development of the Competition", resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of April 19, 2003 No. 189 "About measures for enhancement of corporate management by the privatized companies", of November 14, 2012 No. 322 "About the organization of activities of the State committee of the Republic of Uzbekistan for privatization, demonopolization and development of the competition", of June 11, 2013 No. 165 "About measures for the organization of activities of the Center for management of the state assets under the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition" and of June 23, 2017 No. 419 "About approval of the Regulations on the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition" determines procedure of activities for management of the state blocks of shares (shares) in authorized capitals of economic societies.

I. General provisions

1. For the purpose of this provision the following terms are used:

the representative of the state - the state attorney, the trustee investment assets and the bodies of the public and economic board performing activities for management of the state blocks of shares (shares) and representation of interests of the state in governing bodies of economic societies (the supervisory board, general meeting of shareholders (participants) based on the trust management agreements signed with the Center for management of the state assets under the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition (further - the Center), and also the physical persons representing the interests of the state at general meeting of shareholders (members) by proxy of the Center;

the state share - the state block of shares (share) in authorized capital of economic societies, as shareholders (founders) in which on behalf of the state act the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition (further - Goskomkonkurention) or the Center;

The commission - the Commission on increase in efficiency of activities of joint-stock companies and enhancement of corporate management system;

economic society - joint-stock company or society with limited (additional) liability with the state share in authorized fund.

II. Participation of the representative of the state in work of governing bodies of economic society

2. Control of the state share is exercised of the representative of the state based on the trust management agreement signed with the Center, and also by proxy according to the procedure, established by the legislation.

3. The representative of the state starts fulfillment of duties on management of the state share from coming into force of the trust management agreement or from the moment of issue of the power of attorney for the entire period of its action.

4. The center sends to the supervisory board of economic society, and in cases when forming of the supervisory board is not provided by constituent documents, to executive body the notice on the fact of transfer of the state share to trust management to the representative of the state. In the notice the name (surname, name, middle name) of the representative of the state, number and date of the trust management agreement, and also date of the introduction of this agreement in force are specified. If control is exercised by proxy, the Center in the directed notice specifies number and date of the power of attorney.

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