ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of October 14, 2016 No. 554

About entering of amendments and changes into some decisions of the Government of the Kyrgyz Republic

For the purpose of providing procedure for release of corporate bonds, and also establishment of precepts of law of release and the circulation of corporate bonds with providing, according to article 2 of the Law of the Kyrgyz Republic "About joint-stock companies" and article 36-1 of the Law of the Kyrgyz Republic "About pledge" the Government of the Kyrgyz Republic decides:

1. Bring in the order of the Government of the Kyrgyz Republic "About approval of Rules of state registration of the rights and encumbrances (restrictions) of the rights to real estate and transactions with it" of February 15, 2011 No. 49 the following amendments:

The rules of state registration of the rights and encumbrances (restrictions) of the rights to real estate and transactions with it approved by the above-named resolution:

- add with Item 195-1 of the following content:

"195-1. If the legal entity issues issued debt securities with mortgage providing, for registration of pledge it is provided:

- the decision of the issuer on encumbrance of real estate for the purpose of mortgage providing the issued securities issued by it according to the Law to the Kyrgyz Republic "About pledge";

- the decision of the issuer on release of issued securities with mortgage providing.

The decision of the issuer on encumbrance of real estate shall be signed by authorized persons of the issuer and the managing director of pledge and to be certified notarially, including imposing by the notary of prohibition on alienation of this real estate. At the same time the stamp about state registration is put on the decision of the issuer on encumbrance of real estate and on the decision of the issuer on release of issued securities with mortgage providing.

State registration of pledge of real estate in case of release by the issuer of issued debt securities with mortgage providing is made before state registration of release of such securities.

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