RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of April 24, 2008 No. PP-843

About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services

Note that in the republic the necessary legislative legal base for implementation of estimative activities is created, economic incentives for its active development are created, the procedure for issue of licenses is significantly simplified.

At the same time practical activities of the estimative organizations do not meet the increased modern requirements. Estimative works in some cases are carried out formally and at the low professional level, due responsibility of the estimative organizations for objectivity of assessment of actual cost of the privatized objects and quality of the rendered services is not provided.

According to the Law of the Republic of Uzbekistan "About estimative activities" and for the purpose of further development of system of independent assessment, increase in professional level and quality of estimative services, implementation of effective methods of regulation of activities of the estimative organizations, strengthening of their responsibility for results and objectivity of the performed estimative works:

1. Recognize unsatisfactory the work which is carried out by the State Property Committee of the Republic of Uzbekistan in the field of ensuring activities of the estimative organizations, first of all in questions of development and deployment of the standards and other regulating documents regulating estimative activities, control of objectivity and quality of the performed estimative works.

2. Determine that since July 1, 2008 estimative activities are performed by exclusively legal entities.

Determine that the estimative organizations performing:

assessment of personal estate, except for securities, shares, intellectual property items and other intangible assets - shall have the authorized capital equal 1500-fold basic settlement size, and at least two regular appraisers suffices;

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