THE RESOLUTION OF THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON ASSISTANCE TO THE PRIVATIZED COMPANIES AND DEVELOPMENT OF THE COMPETITION

of May 15, 2017 No. 01/27-26/05

About approval of the National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 15) "Value assessment of machines and equipment"

According to the Law of the Republic of Uzbekistan "About estimative activities", the resolution of the President of the Republic of Uzbekistan of April 24, 2008 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" and 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" the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition decides No. PP-843:

1. Approve the National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 15) "Value assessment of machines and the equipment" according to appendix.

2. This resolution becomes effective from the date of its official publication.

Appendix

to the Resolution of the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition of May 15, 2017 No. 01/27-26/05

National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 15) "Value assessment of machines and equipment"

This National standard of assessment of property of the Republic of Uzbekistan (NSOI No. 15) "Value assessment of machines and the equipment" (further - NSOI No. 15) according to the Law of the Republic of Uzbekistan "About estimative activities", the resolution of the President of the Republic of Uzbekistan of April 24, 2008 No. PP-843 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" and 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" determines normative regulation of estimative activities in the field of value assessment of machines and the equipment in the Republic of Uzbekistan.

Chapter 1. General provisions

1. The purpose of NSOI No. 15 is establishment of rules in case of cost determination of machines and the equipment and reflection of results of assessment.

2. The main objectives of NSOI No. 15 are:

ensuring coordination of actions of appraisers and owners of property when using concepts and rules of value assessment of machines and the equipment, and also evaluating their cost;

determination of the procedures designed to help objectivity and improvement of quality of assessment;

establishment of single requirements to primary information, contents of the valuation report and to the statement of material excluding ambiguous interpretation of valuation reports.

Chapter 2. Scope of NSOI No. 15

3. Assessment objects to which action of NSOI No. 15 extends are:

one separately taken unit of the machine or equipment, or certain part of the machine or equipment;

units of machines and equipment conditionally independent from each other (part of production and technological system or line);

production and technological systems: the complex of machines and/or the equipment connected among themselves by production engineering procedure.

4. NSOI No. 15 is intended for the estimative organizations, appraisers and customers of estimative services and is subject to obligatory application when rendering services in value assessment of machines and the equipment.

5. In case of application of NSOI No. 15 it is necessary to be guided by the Methodical instructions given in appendix to NSOI No. 15.

Chapter 3. Interrelation of NSOI No. 15 with accounting standards

6. The results received in case of assessment of objects of assessment according to requirements of NSOI No. 15 can be used taking into account requirements of the Law of the Republic of Uzbekistan "About estimative activities".

7. Regulations and requirements of National accounting standards of the Republic of Uzbekistan (NSBU) can be used only in the cases provided by NSOI No. 15. In other cases, it is necessary to be guided by requirements of NSOI No. 15.

8. Assessment project cost determined No. NSOI methods 15, can significantly differ from the cost of this property determined in accordance with the established procedure for the financial reporting.

Chapter 4. Requirements of NSOI No. 15

§ 1. General provisions

9. The requirement of NSOI No. 15 for the appraiser is observance of the following evaluation stages:

determination of task for assessment and conclusion of the agreement on assessment object assessment;

collection and information analysis;

application of approaches and evaluation methods;

carrying out calculations and cost determination of object of assessment;

creation of the valuation report.

10. No. 15 for the customer is the requirement of NSOI:

together with the appraiser determination of task for assessment and conclusion of the agreement on assessment object assessment;

ensuring access to assessment object (if necessary);

provision to the appraiser of necessary primary information.

§ 2. Determination of task for assessment

11. The task for assessment is constituted by the customer together with the estimative organization and drawn up in appendix form to the agreement on assessment.

The task for assessment shall contain:

name and short description of objects of assessment;

name of the customer and his details;

name of the estimative organization and its details;

basis for evaluating;

purpose (task) of assessment and intended use of results of assessment;

date of assessment;

the type of the determined cost answering assessment purpose;

assumptions and restrictive conditions (in the presence of those);

the list of primary information which shall be provided by the customer;

terms of carrying out estimative works.

The task for assessment may contain additional terms.

§ 3. Collection and information analysis

12. Collection and information analysis includes obtaining and studying:

technical documentation, containing data on functional indicators (performance or capacity, load-carrying capacity, traction effort, the sizes of working space, accuracy class, extent of automation, etc.), operational indicators (automatic, semi-automatic or not automatic use, non-failure operation, durability, maintainability, keeping, etc.), constructive indicators (weight, weight, composition of the main constructive materials, etc.), economic indicators (characterizing expenses of various resources when functioning machines in unit of time per unit of products or works) assessment object;

economic documentation, containing financial data on assessment object (book value, acquisition value, costs of routine maintenance and overhaul repairs, cost indicators of production capacity for the period time, etc.), and also documentation on assessment object origin (the purchase and sale agreement, acceptance acts, others);

information on condition and dynamics of the market (production, the sale facts, demand and offers) to which assessment object belongs;

other information necessary for value assessment of object of assessment and creation of the authentic valuation report.

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