THE ORDER OF THE CEO OF THE CENTER FOR COORDINATION AND MARKET DEVELOPMENT OF SECURITIES IN CASE OF GOSKOMKONKURENTION OF THE REPUBLIC OF UZBEKISTAN

of January 31, 2014 No. 2014-04

About modification and amendments in the Order "About Approval of Rules of Issue of Securities and State Registration of Releases of Issued Securities"

 According to the Law of the Republic of Uzbekistan "About modification and amendments in some legal acts of the Republic of Uzbekistan" (Collection of the legislation of the Republic of Uzbekistan, 2013, No. 1, the Art. 1), presidential decrees of the Republic of Uzbekistan of November 13, 2012 No. UP-4483 "About Formation of the State Committee of the Republic of Uzbekistan on Privatization, Demonopolization and Development of the Competition" (Collection of the legislation of the Republic of Uzbekistan, 2012, Art. No. 46-47, 521) and of August 28, 2013 No. UP-4561 "About Modification and Amendments, and also Recognition Voided Some Acts of the President of the Republic of Uzbekistan" (Collection of the legislation of the Republic of Uzbekistan, 2013, No. 36, the Art. 477), resolutions of the Cabinet of Ministers of the Republic of Uzbekistan of May 22, 2012 No. 140 "About measures for implementation of the resolution of the President of the Republic of Uzbekistan of March 19, 2012 No. PP-1727 "About measures for further development of the stock market" (Collection of the legislation of the Republic of Uzbekistan, 2012, No. 21, the Art. 230) and of November 1, 2012 No. 313 "About modification and amendments, and also recognition voided some decisions of the Government of the Republic of Uzbekistan (The presidential decree of the Republic of Uzbekistan of July 16, 2012 No. UP-4453 "About Measures for Cardinal Reducing the Statistical, Tax, Financial Reporting, the Licensed Types of Activity and Allowing Procedures")" (Collection of the legislation of the Republic of Uzbekistan, 2012, No. 44, the Art. 507), and also Regulations on the Center for coordination and market development of securities in case of Goskomkonkurention of the Republic of Uzbekistan, the approved resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 30, 1996 No. 126 (Collection of the orders of the Government of the Republic of Uzbekistan, 1996, to No. 3, of the Art. 11), I order:

1. Make changes and additions to the order of the CEO of the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan of July 16, 2009 No. 2009-40 "About approval of Rules of issue of securities and state registration of releases of issued securities" (рег. No. 2000 of August 30, 2009) (Collection of the legislation of the Republic of Uzbekistan, 2009, No. 36, the Art. 394) according to appendix.

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

Appendix

to the Order of the CEO of the Center for coordination and market development of securities in case of Goskomkonkurention of the Republic of Uzbekistan of January 31, 2014 No. 2014-04

Changes and additions made to the order "About Approval of Rules of Issue of Securities and State Registration of Releases of Issued Securities"

1. In preamble of the order of the word "The center for coordination and control of functioning of the security market under the State Property Committee" shall be replaced with words "The center for coordination and market development of securities in case of Goskomkonkurention".

2. In Rules:

a) in Item 1:

the ninth to state the paragraph in the following edition:

"registering body - the Center for coordination and market development of securities in case of Goskomkonkurention of the Republic of Uzbekistan and its territorial authorities;";

in the paragraph the nineteenth shall be replaced with words the words "in the Unified state register of releases of issued securities" "in EGR";

b) to exclude from the subitem "v" of Item 31 of the word "and prospectus";

c) in Item 35 of the word "The state committee of the Republic of Uzbekistan on management of state-owned property" shall be replaced with words "The state committee of the Republic of Uzbekistan on privatization, demonopolization and development of the competition (further - Goskomkonkurention) or its territorial authority";

d) state Item 39 in the following edition:

"39. The decision on issue of securities shall be signed by person performing functions of sole executive body, or the head of collegiate executive body of the issuer, and also the chief accountant (the other person performing its functions) of the issuer confirming that reliability and completeness of all information containing in the decision on release. If the management of the current activities of the issuer is transferred to the commercial organization, the decision on release shall be signed by the head of this organization.";

e) in Item 40:

the fifth to state the paragraph in the following edition:

"to appendix No. 2v to these rules - for investment funds.";

add with the paragraph of the following content:

"The copy of the certificate on state registration of the issuer as the legal entity, and in case of banks - the copy of the license for the right of carrying out banking activities is attached to the prospectus.";

e) state Item 42 in the following edition:

"42. The prospectus shall be signed by person performing functions of sole executive body, or the head of collegiate executive body of the issuer, and also the chief accountant (the other person performing its functions) of the issuer confirming that reliability and completeness of all information containing in the prospectus. If the management of the current activities of the issuer is transferred to the commercial organization, the prospectus shall be signed by the head of this organization.

In cases of obligatory involvement of the estimative organization according to the legislation the prospectus also shall be signed by this estimative organization, confirming thereby data on estimated value of the property entered in payment of shares, specified in the prospectus.

In case of bond issue with collateral security person which provided collateral security shall sign the prospectus, confirming thereby accuracy of the information about collateral security.

In case of liquidation (death) of person which provided collateral security on bond issue, the issuer shall notify in writing on it bondholders of this release and registering body within two working days since the moment as he knew of it.";

g) in Item 43:

"(in duplicate)" to exclude from subitems "b", "v", "zh", "z" and "i" of the word;

recognize subitems "g" and "k" invalid;

h) to state subitems "g" and "d" of Item 44 in the following edition:

"d) the copy of the conclusion of auditing organization confirming availability for the last three years of positive indicators of profitability, solvency, financial stability and liquidity of the issuer, certified by auditing organization;

e) the copy of the conclusion of auditing organization confirming the size of equity of the issuer on approval date of the decision on bond issue (in national currency of the Republic of Uzbekistan), certified by auditing organization;";

i) state Item 46 in the following edition:

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