RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of September 27, 2006 No. PP-475

About measures for further market development of securities

For the purpose of further market development of securities, ensuring its transparency and stability of functioning, implementation of modern information and communication technologies, activation of investment attraction by business entities, enhancement of corporate management in joint-stock companies and ensuring protection of shareholder rights:

1. Approve the Development program of the security market developed by the State Property Committee, the Ministry of Economics, the Ministry of Finance of the Republic of Uzbekistan together with joint stock companies and share structures for 2006 - 2007, according to appendix, providing measures on:

to further development of the primary security market due to complete privatization of the companies and creation of new joint-stock companies;

to the accelerated development and expansion of scales of the secondary security market;

to forming of modern infrastructure of the stock market and strengthening of its material and technical resources;

to enhancement of corporate management system in joint-stock companies;

to improvement of the organization of preparation and advanced training of personnel for the security market.

- contractors to provide to the State Property Committee of the Republic of Uzbekistan together with the ministries and departments unconditional accomplishment of actions of the Program at the scheduled time.

2. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 18.03.2020 No. UP-5968

3. Determine that:

the annual business plan of joint-stock company is subject to approval at meeting of the supervisory board no later than December 1 of prior financial year;

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