RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 27, 2020 No. PP-4732

About measures for settlement of process of shared-equity construction of apartment houses

For the purpose of implementation to the sphere of housing construction of the republic of modern market mechanisms and creating favorable conditions for active investment attraction, ensuring legal regulation of the relations in the course of shared-equity construction of apartment houses, and also strengthening of guarantees of the rights and legitimate interests of persons participating in shared-equity construction:

1. Determine that:

a) attraction of financial resources of physical persons and legal entities (further - shareholders) on shared-equity construction of apartment houses can be performed only by the builders having the status of the legal entity and included in the Electronic list of the builders raising funds for shared-equity construction (further - the Electronic list);

b) The electronic list is kept for the purpose of accounting of the builders raising funds for shared-equity construction, and also preventions of violation of the rights and legitimate interests of shareholders;

c) for inclusion in the Electronic list builders shall meet the following requirements:

availability of the parcel of land allocated in accordance with the established procedure for construction of apartment houses, and also source allowing documents on carrying out construction works;

availability of own financial resources in the amount of at least 20 percent from the cost of apartment houses and other construction objects in construction complex or the guaranty letter of bank about allocation of the credit for this amount or its missing part;

design estimates availability on construction complex and positive experimental testimony (except for the projects realized by the fast-track method;

availability of the signed contracts for implementation of technical and designer's service, and also state control;

availability of the opened separate settlement account in commercial bank for accumulation of funds deposited by shareholders.

2. Establish procedure according to which:

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