RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of May 17, 2019 No. 414

About approval of the Regulations on activities of investment and managing companies

In pursuance of the Presidential decree of the Republic of Uzbekistan of November 24, 2018 the No. UP-5583 "About Additional Measures for Enhancement of Funding Mechanisms for Projects in the field of Entrepreneurship and Innovations" Cabinet of Ministers decides:

1. Approve Regulations on activities of investment and managing companies according to appendix.

2. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan concerning investments and foreign economic relations E. M. Ganiyev and the minister of innovative development of the Republic of Uzbekistan I. Yu. Abdurakhmonov.

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of May 17, 2019 No. 414

Regulations on activities investment and managing companies

Chapter 1. General provisions

1. This Provision determines the purposes, tasks, functions, criterion, type of activity and procedure of monitoring of investment and managing companies, including when implementing venture funding, and also governs their relations.

2. In this Provision the following basic concepts are used:

investment company - the commercial organization which performs the activities connected with forming and accumulation of the money of skilled investors raised by managing company for their further investment in innovative and other perspective projects;

managing company - the commercial organization exercising control of investment contribution of investment company according to the agreement signed between them;

venture fund - the investment company which is under control of managing company, intended for investment of the accumulated money only in highly risk venture projects;

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