ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of November 20, 2009 No. 108

About approval of the Regulations on temporary administration of the insurer

According to the Law of the Republic of Uzbekistan "About insurance activity" I order:

1. Approve Regulations on temporary administration of the insurer according to appendix.

2. This order becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Appendix

to the Order of the Minister of Finance of the Republic of Uzbekistan of November 20, 2009 No. 108

Regulations on temporary administration of the insurer

This Provision determines operating procedure of temporary administration of the insurer.

I. General provisions

1. This Provision does not extend to cases of cancellation of the license of the insurer according to its statement, and also by its reorganization or liquidation according to the decision of his founders (participants) or governing body of the insurer authorized on that by constituent documents.

2. Function of temporary administration of the insurer is implementation of powers of earlier operating governing bodies of the insurer.

3. The temporary administration of the insurer is appointed by the order of the National agency of perspective projects of the Republic of Uzbekistan (further - authorized state body) within five days from the date of cancellation of the license of the insurer.

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