LAW OF THE REPUBLIC OF UZBEKISTAN

of June 3, 2015 No. ZRU-387

About modification and amendments in the Law of the Republic of Uzbekistan "About the security market"

Accepted by Legislative house on October 24, 2014

Approved by the Senate on May 15, 2015

Article 1. Bring in the Law of the Republic of Uzbekistan of July 22, 2008 No. ZRU-163 "About the security market" (Sheets of chambers of Oliy Majlis of the Republic of Uzbekistan, 2008, No. 7, Art. 354; 2009, No. 9, Art. 337, No. 12, Art. 464; 2012, No. 12, Art. 336; 2013, No. 4, Art. 98, No. 10, Art. 263; 2014, No. 1, the Art. 2, No. 5, the Art. 130, No. 9, the Art. 244) of change and amendments, having approved its new edition it (is applied).

Article 2. To the Cabinet of Ministers of the Republic of Uzbekistan:

bring decisions of the government into accord with this Law;

provide review and cancellation by state bodies of their regulatory legal acts contradicting this Law.

Article 3. This Law becomes effective from the date of its official publication.

LAW OF THE REPUBLIC OF UZBEKISTAN

About the security market

(new edition)

Chapter 1. General provisions

Article 1. Purpose and scope of this Law

The purpose of this Law is regulation of the relations in the field of the security market.

Operation of this Law extends to the following securities: shares, bonds, treasury obligations, deposit certificates, derivatives of securities and bill of exchange.

Article 2. Legislation on the security market

The legislation on the security market consists of this Law and other acts of the legislation.

If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about the security market then are applied rules of the international treaty.

Article 3. Basic concepts

In this Law the following basic concepts are applied:

the share - the personalized issued security without fixed term of action certifying the right of its owner to receipt of part of profit of joint-stock company in the form of dividends on participation in management of joint-stock company and on part of the property remaining after its liquidation;

disclosure of information - ensuring availability of information in the security market to interested persons irrespective of the purposes of receipt of this information in the forms guaranteeing its stay and obtaining;

the bill of exchange - not issued security certifying unconditional obligation of the drawer or other payer specified in the bill of exchange to pay certain amount to the owner of the bill of exchange in case of approach of the term provided by the bill of exchange;

government securities - the treasury obligations of the Republic of Uzbekistan and the bond issued by the authorized Cabinet of Ministers of the Republic of Uzbekistan body and also bonds of the Central bank of the Republic of Uzbekistan;

the custody account - set of entries in the accounting registers of the investment intermediary and Central Securities Depository intended for storage of securities of the depositor and accounting of the rights to securities;

the account statement of depot - the document certifying the rights of the depositor to securities, issued by the investment intermediary and (or) Central Securities Depository;

depository operations - the operations performed in accounting registers according to standards of depository operations;

depositary receipts - the security which does not have nominal value, certifying the property right to certain quantity of the represented securities and affirming the right of its owner to demand from her issuer of obtaining instead of the depositary receipt of the corresponding quantity of the represented securities and rendering the services connected with implementation by the owner of the depositary receipt of the rights affirmed by the represented securities;

the deposit certificate - not issued security certifying the deposit amount, brought in bank, and the investor's rights (the holder of the certificate) to obtaining after fixed term of the deposit amount and the percent caused in the certificate in the bank which issued the certificate or any branch of this bank;

the depositor - person who has the custody account;

investment assets - securities, money and other property recognized by investment assets according to the legislation;

the investor - the legal entity or physical person acquiring securities on its own behalf and at own expense;

infrastructure bonds - the bonds issued by economic societies and the state companies for the purpose of attraction of money for financing of creation and (or) reconstruction of production and other infrastructure;

clearing - determination, refining and offsetting of cross liabilities on the security transactions registered by organizers of the biddings by securities;

corporate bonds - the bonds issued by joint-stock companies and commercial banks irrespective of their form of business;

the market maker - the investment intermediary who assumed liability according to the conclusion of stock exchange transactions for maintenance of price level, the demand and supply on securities;

netting - clearing method by offsetting of all monetary claims of the client against all its monetary commitments;

not issued securities - the securities which are not falling under concept of issued securities according to this Law;

the bond - the issued security certifying the right of her holder to obtaining from the face who issued the bond in the time of nominal value of the bond or other property equivalent provided by it, receipt of the fixed percent from nominal value of the bond or other property rights;

the option - the issued security certifying the right to purchase in the time of certain quantity of securities of her issuer provided in it on fixed price;

stock exchange - the legal entity creating conditions for trade only in securities by the organization and carrying out the public and public exchange biddings on the basis of statutory rules in in advance determined place and in certain time;

personalized securities - securities, realization of property rights on which requires registration of their owner;

issued securities - the securities having within one release homogeneous signs and details, placed and turned based on single conditions for this release;

The unified state register of releases of issued securities - the list of the registered releases of issued securities;

the issuer - the legal entity issuing issued securities and incurring obligations on them to their owners;

treasury obligations of the Republic of Uzbekistan - the issued securities certifying entering by their owners of money into the Government budget of the Republic of Uzbekistan and granting the right to the fixed income during all term of ownership of these securities;

securities - the documents certifying property rights or the relations of loan between the issued these documents the legal entity and their owner providing payment of the income in type of the dividends or percent and possibility of assignment of rights following from these documents, to other persons;

the security market - system of the relations of the legal entities and physical persons connected with release, placement and security circulation;

members of the security market are issuers of securities, owners of securities, investors, professional participants of the security market, and also exchange and Central Securities Depository;

the professional participant of the security market - the legal entity who performs professional activity in the security market;

the client of the professional participant of the security market (client) - the depositor or the other person using services of the professional participant of the security market;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info