PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of February 4, 1998 No. UP-1923

About measures for enhancement of the mechanism of calculations and stimulation of payment receipt in the republican budget of the Republic of Uzbekistan, the budget of the Republic of Karakalpakstan, local budgets of areas and the city of Tashkent

For the purpose of ensuring protection of constitutional rights and interests of citizens, implementation of timely pension payment, benefits, grants, the salary to employees of the companies and organizations financed by budgetary funds and also according to the solution of the Constitutional court of the Republic of Uzbekistan of January 16, 1998. "About enhancement of the legislation regulating priority of cash write-off from the account of the companies" and Kengash's resolution of Oliy Majlis of the Republic of Uzbekistan of January 20, 1998, No. 568-1:

1. Establish since February 1, 1998 the following procedure for cash write-off from accounts of business entities.

In the presence on the account of money which amount is sufficient for satisfaction of all requirements imposed to the account write-off of these funds from the account is performed on first come orders of the client and other documents for write-off (according to the procedure of calendar priority).

In case of insufficiency of money on the account for satisfaction of all requirements imposed to it, cash write-off from bank accounts of business entities is made first of all in proportion according to the payment (executive) documents providing payments in the budget, in the state trust funds and issue of the money on salary payment providing equal extent of accomplishment of obligations of business entities on payments in the budget and to the requirements following from employment legal relationship.

Cash write-off for the urgent needs connected directly with productive activity in the amount of established by the legislation, is performed out of calendar priority.

To Central Bank and the Ministry of Finance together with the Ministry of Justice of the Republic of Uzbekistan in week time to develop and approve the instruction about procedure for cash write-off from bank accounts of business entities.

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