Agreement between the Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan and Republic of Uzbekistan on the general principles of market grouping of securities

of March 26, 1998

The Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Tajikistan and the Republic of Uzbekistan which are hereinafter referred to as the Party

- being guided by the principles of equality and mutually beneficial cooperation in the economic relations;

- attaching importance to deepening of economic cooperation;

- proceeding from common interests of coordinated policy and regulation of issue and security circulation of investment institutes and stock exchanges;

- for the purpose of protection of interests of issuers and investors;

- for the purpose of creation of necessary conditions for market grouping of securities.

Article 1

The parties recognize necessary to provide conditions for access to the security markets of the states of issuers, investors and investment institutes of other Parties.

Article 2

Action of this agreement extends to the following types of securities:

debt obligations of public authorities (state debt securities);

debt securities of local authorities of public administration (municipal bonds);

corporate securities (shares and bonds);

derivatives of securities (options, futures and others).

Article 3

The procedure for issue and the address of government securities of one Party in the territory of any of other Parties are established under their mutual approval.

Article 4

The parties consider expedient providing equal opportunities for issue and the admission to market circulation of securities of the states of the corporate securities and their derivatives issued by the business entities registered in the territory of the Parties on condition of state registration of issues of securities both in the place of issue and according to their address.

Release, registration and the circulation of corporate securities and their derivatives are made according to the legislation of that Party where security circulation is performed.

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