Rules on Establishing Qualification Requirements for Liquidators, Special Administrators of Credit Organizations and Procedures for Obtaining National Bank of Tajikistan Certificates

«REGISTERED» by the Ministry of Justice of the Republic of Tajikistan under No. 680 dated February 14, 2012.

«APPROVED» by the Resolution of the Board of the National Bank of Tajikistan dated February 10, 2012, No. 35.

Rules on Establishing Qualification Requirements for Liquidators, Special Administrators of Credit Organizations and Procedures for Obtaining Certificates of the National Bank of Tajikistan

These Rules are developed in accordance with Part 1 of Article 9 and Part 2 of Article 17 of the Law of the Republic of Tajikistan "On the Liquidation of Credit Organizations," which establish qualification requirements for liquidators and special administrators and the procedure for obtaining their certificates from the National Bank of Tajikistan.

1. General Provisions

1. Liquidator – a natural person holding a certificate of the National Bank of Tajikistan, conducting the liquidation of a credit organization without grounds for bankruptcy;
2. Special Administrator – a natural person holding a certificate of the National Bank of Tajikistan, who, by court decision, carries out the liquidation of a credit organization on grounds of bankruptcy;
3. Employees of the National Bank of Tajikistan cannot serve as liquidators or special administrators.

2. Qualification Requirements for Liquidators and Special Administrators

4. Liquidators and special administrators must meet the following requirements:

• possession of higher economic or legal education;
• at least five years of work experience in the specialties of economist, accountant, auditor, or lawyer;
• a certificate confirming the absence of a criminal record for intentional crimes or crimes of a corrupt nature;
• not declared bankrupt by a court within the last seven years;
• not deprived by a court of the right to engage in certain activities or hold certain positions;
• possession of sufficient knowledge of the legislation of the Republic of Tajikistan regarding the activities of credit organizations and their liquidation.

3. Procedure for Obtaining Certificates for Liquidators and Special Administrators

5. To obtain a certificate as a liquidator or special administrator, candidates submit an application to the National Bank of Tajikistan and provide the following documents:

• a copy of the passport;
• a copy of the work record book;
• a copy of the diploma confirming higher economic or legal education;
• a certificate confirming the absence of a criminal record for intentional crimes or crimes of a corrupt nature.

6. In the application, the candidate must specifically indicate the type of certificate required (liquidator or special administrator).

7. The National Bank of Tajikistan considers the candidate's application within one month.

8. In the event of non-compliance of the documents attached to the application with the requirements of these Rules, the National Bank of Tajikistan returns the application and documents to the candidate, indicating the non-compliance in writing.

9. In exceptional cases, the National Bank of Tajikistan may extend the term specified in paragraph 7 of these Rules by up to 10 working days, notifying the applicant of the reasons for the extension.

10. Upon passing the attestation in accordance with the Resolution of the Board of the National Bank of Tajikistan, candidates are issued qualification certificates for liquidators and special administrators (Appendices No. 1, No. 2).

4. Attestation

11. To determine the level of knowledge of candidates in the field of legislation of the Republic of Tajikistan regarding the activities and liquidation of credit organizations, their attestation is conducted.

12. The attestation of candidates is conducted by the Qualification Commission of the National Bank of Tajikistan (hereinafter – the Qualification Commission) through an interview, questions and answers, or testing.

13. The Qualification Commission is established by Order of the Chairman of the National Bank of Tajikistan from among the employees of the National Bank of Tajikistan.

14. Meetings of the Qualification Commission are held once a month and are competent if at least two-thirds of the members of the Commission participate in them.

15. Candidates are notified by the National Bank of Tajikistan about the holding of meetings of the Qualification Commission no later than ten days prior to the date of the meetings.

16. Meetings of the Qualification Commission are chaired by the Chairman of the Qualification Commission, or in their absence, by their deputy.

17. Decisions of the Qualification Commission are adopted by a majority vote of the commission members participating in the meeting. In the event of a tie, the vote of the presiding officer at the meeting of the Qualification Commission is decisive.

18. Candidates who fail the attestation may participate in the attestation again after three months.

5. Grounds and Procedure for Annulment of Certificates for Liquidators and Special Administrators

19. The certificate of a liquidator and special administrator is annulled in the following cases: § the economic court releases the liquidator and special administrator from the performance of duties imposed on them; § violation by the liquidator and special administrator of the legislation of the Republic of Tajikistan on the liquidation of credit organizations.

20. The Board of the National Bank of Tajikistan issues a resolution on the annulment of the certificate of the liquidator and special administrator.

Appendix No. 1

Certificate of a Liquidator of a Credit Organization

No. _____ dated "____" ___________ 201__.

This Certificate is issued to ____________________________________ (Name)

Based on the Resolution of the Board of the National Bank of Tajikistan dated "___" ___________ 201 on an indefinite basis.

Chairman National Bank of Tajikistan A. Shirinov

Appendix No. 2

Certificate of a Special Administrator of a Credit Organization

No. _____ dated "____" ___________ 201__.

This Certificate is issued to ____________________________________ (Name)

Based on the Resolution of the Board of the National Bank of Tajikistan dated "___" ___________ 201 on an indefinite basis.

Chairman National Bank of Tajikistan A. Shirinov