ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF UZBEKISTAN

of January 7, 2013 No. 2

About modification and amendments in Regulations on insurance reserves of insurers

According to the Law of the Republic of Uzbekistan "About insurance activity" (2002, N 4-5, Art. 68) order to the sheet of Oliy Majlis of the Republic of Uzbekistan:

1. Make changes and additions to the Regulations on insurance reserves of insurers approved by the order of the Minister of Finance of the Republic of Uzbekistan on November 20, 2008 N 107 (рег. N 1882 of December 15, 2008) (Collection of the legislation of the Republic of Uzbekistan, 2008, N 52, the Art. 529), according to appendix.

2. This order becomes effective from the date of its official publication.

Appendix

to the order of the Minister of Finance of the Republic of Uzbekistan of January 7, 2013 No. 2

Changes and additions made to Regulations on insurance reserves of insurers

1. In Item 25:

add with the paragraph the eighteenth the following content:

"If as a result of calculations the size of stabilization reserve on obligatory civil liability insurance of owners of vehicles will exceed the amount of the insurance payments made for the period 36 months to reporting date under agreements of obligatory civil liability insurance of owners of vehicles, the specified reserve on reporting date is accepted equal to the amount of the insurance payments made for the period 36 months to reporting date under agreements of obligatory civil liability insurance of owners of vehicles, and the amount of the specified exceeding after tax payment and other obligatory payments is capitalized in authorized capital of the insurer.";

the eighteenth to consider the paragraph the paragraph the nineteenth.

2. To exclude from Item 42 of the word "and the certificate of receivables and payables-the N 2 form".

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