Approved as the Vice-chairman of the State Property Committee, General the director of the Center for coordination and control for functioning of securities of December 21, 1999

Regulations on underwriting activities in the security market

I. General provisions

1.1. This Provision according to the laws of the Republic of Uzbekistan "About the security market", "About joint-stock companies and protection of shareholder rights" and other acts of the legislation determines standards (procedure and conditions) of implementation of activities for the guaranteed primary placement of securities of issuers.

1.2. This Provision regulates responsibility and bases of interaction of the issuer and the underwriter in the course of release and/or the guaranteed primary placement of securities of the issuer.

1.3. For the purpose of the correct application of this provision the following terminology is used:

the issuer - the legal entity issuing issued securities and incurring obligations on them to their owners;

securities - the documents certifying property rights or the relations of loan between the issued these documents the legal entity and their owner providing payment of the income in type of the dividends or percent and possibility of assignment of rights following from these documents, to other persons;

the investment memorandum - the preliminary information document package intended for provision to investors which includes all necessary information on the issuer and does not contain details of the transaction and price information of placement of securities;

underwriting activities (underwriting) - activities for rendering services in the organization of release and/or the guaranteed placement of securities of the issuer on the conditions determined by the contract between the underwriter (underwriters) and the issuer;

the underwriter - the investment intermediary or commercial bank performing underwriting activities;

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