Amendments and Additions to the Guidance on the Procedure for Opening, Maintaining, and Closing Bank Accounts

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on November 3, 2023, registration number 3420-1

Date of Entry into Force

November 6, 2023

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[OKOZ:

1.21.00.00.00 Comprehensive documents for amendments and additions / 21.04.00.00 Departmental normative-legal documents]

[TSZ:

1. State and public structure / Legislative initiative. Norm-making activity]

Resolution of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Guidance on the Procedure for Opening, Maintaining, and Closing Bank Accounts

[Registered by the Ministry of Justice of the Republic of Uzbekistan on November 3, 2023, registration number 3420-1]

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and Resolution No. PQ-291 of the President of the Republic of Uzbekistan dated September 2, 2023 "On Additional Measures for the Development of the Capital Market", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the Appendix to the [Guidance](/docs/6379336?ONDATE=09.02.2023 00#6379381) on the Procedure for Opening, Maintaining, and Closing Bank Accounts, approved by Resolution No. 30/18 of the Board of the Central Bank of the Republic of Uzbekistan dated January 4, 2023 (registration number 3420, February 8, 2023) (, dated 09.02.2023, No. 10/23/3420/0081).

2. This resolution enters into force from the date of its official publication.

Chairman M. NURMURATOV

Tashkent city,

October 25, 2023,

No. 36/7

Appendix to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated October 25, 2023, No. 36/7

Amendments and Additions to the Guidance on the Procedure for Opening, Maintaining, and Closing Bank Accounts

1. [Paragraph 1](/docs/6379336?ONDATE=09.02.2023 00#6379385):

the seventh bullet point is supplemented with the words ", as well as organizations authorized to open representative accounts at the Central Bank" after the words "or at another bank";

the eighth bullet point is supplemented with the following content:

"organizations authorized to open representative accounts — JSC 'National Clearing Center' and JSC 'Central Securities Depository';";

the [eighth bullet point](/docs/6379336?ONDATE=09.02.2023 00#6379392) is correspondingly considered the ninth bullet point.

2. In the [first](/docs/6379336?ONDATE=09.02.2023 00#6379448) and [eighth bullet points](/docs/6379336?ONDATE=09.02.2023 00#6379455) of Paragraph 16, the words "shares in organizational trading" are replaced with "shares and corporate bonds in organizational trading".

3. [Paragraph 23](/docs/6379336?ONDATE=09.02.2023 00#6379468) is stated in the following wording:

"23. When a representative account is opened at the Central Bank or another bank by a bank, as well as at the Central Bank by organizations authorized to open representative accounts, a contract on mutual representation relations is concluded between them."

4. The [first](/docs/6379336?ONDATE=09.02.2023 00#6379469) and [second bullet points](/docs/6379336?ONDATE=09.02.2023 00#6379470) of Paragraph 24 are stated in the following wording:

"24. The following documents are submitted for the opening of a representative account in national and foreign currency by a bank at the Central Bank or another bank, as well as by organizations authorized to open representative accounts at the Central Bank:

an application for the opening of a representative account with all the details of the bank or the organization authorized to open a representative account indicated;".

5. [Paragraph 47](/docs/6379336?ONDATE=09.02.2023 00#6379525) is stated in the following wording:

"47. Representative accounts of banks or organizations authorized to open representative accounts are closed based on their application to terminate representation relations, as well as on the basis of legislative acts on the liquidation of banks or organizations authorized to open representative accounts."

(, dated 06.11.2023, No. 10/23/3420-1/0829)