LAW OF THE REPUBLIC OF TAJIKISTAN

of November 23, 2015 No. 1252

About modification and amendments in the Law of the Republic of Tajikistan "About insurance of savings of physical persons"

Accepted by the Resolution MH MOPT of October 15, 2015, No. 159

Approved by the Resolution MM MORT of November 12, 2015, No. 139

Article 1. Bring in the Law of the Republic of Tajikistan of August 2, 2011 "About insurance of savings of physical persons" (Akhbori of Majlisi Oli of the Republic of Tajikistan, 2011, Art. No. 7-8, 612) the following changes and amendment:

1. To state the paragraph of the seventh Article 1 in the following edition:

"-insured savings - savings which according to this Law are obligatory object of insurance;".

2. To state part 1 of Article 16 in the following edition:

"1. The credit institution quarterly shall pay nonrefundable calendar fees in the amount of 0,25 of percent of average balance for the last quarter, the savings of the physical persons which are available in credit institutions, subject to insurance in national currency, except for savings of the physical persons specified in article 24 of this Law.".

3. To state the name of Chapter 5 in the following edition:

"Investors in system of insurance of savings. object of insurance of savings. The size and payment procedure of the amount of insurance indemnity on savings".

4. Add with Article 21 (1) the following content:

"Article 21 (1). Obligatory object of insurance

Obligations of credit institution on return of the savings of physical persons placed on bank accounts in national and foreign currencies in case of its involuntary liquidation which are confirmed by bank deposit agreements and (or) bank accounts of payroll and pension payment cards and (or) savings books are considered as obligatory objects of insurance.".

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