Amendments to the Regulation on Requirements for Internal Audit Services of Microcredit Organizations by the Central Bank

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 10.06.2020, registration number 2453-1

Date of Entry into Force

10.06.2020

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14.04.2023

10.06.2020

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Document lost its force on 14.04.2023

[OKON:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.22.00.00 Lending / 07.22.06.00 Specific Types of Lending / 07.22.06.02 Microcredit. Lending to Small Business Entities;

2.09.00.00.00 Entrepreneurship and Economic Activity / 09.04.00.00 Auditing Activity / 09.04.07.00 Other Issues of Auditing Activity]

[TSZ:

1. Finance / Banks and Other Credit Institutions. Loans;

2. Finance / Auditing Activity]

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

On Amendments to the Regulation on Requirements for Internal Audit Services of Microcredit Organizations by the Central Bank

[Registered by the Ministry of Justice of the Republic of Uzbekistan on June 10, 2020, registration number 2453-1]

This resolution loses its force on April 14, 2023, based on Resolution No. 28/3 of the Board of the Central Bank of the Republic of Uzbekistan dated December 6, 2022, "On Recognizing Certain Departmental Normative Legal Acts Adopted by the Central Bank of the Republic of Uzbekistan as Having Lost Their Force" [resolution] (registration number 3411, dated January 11, 2023).

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and No. URQ-599 dated December 30, 2019 "On Amendments and Additions to the Tax Code of the Republic of Uzbekistan", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments shall be made to the [Regulation] on Requirements for Internal Audit Services of Microcredit Organizations by the Central Bank, approved by Resolution No. 6/2 of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2013 (registration number 2453, dated April 25, 2013) (Collection of Legislation of the Republic of Uzbekistan, April 29, 2013, No. 17, Article 230), in accordance with the [Appendix].

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

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

May 16, 2020,

No. 11/8

[Resolution] of the Board of the Central Bank of the Republic of Uzbekistan dated May 16, 2020, No. 11/8

APPENDIX

Amendments being made to the Regulation on Requirements for Internal Audit Services of Microcredit Organizations by the Central Bank

1. The [preamble] of the Regulation shall be worded as follows:

"This Regulation establishes the requirements for organizing an internal audit service in microcredit organizations with a balance sheet asset value exceeding one billion soums, in accordance with the Laws of the Republic of Uzbekistan 'On the Central Bank of the Republic of Uzbekistan' and 'On Microcredit Organizations', as well as the methodological foundations for organizing its activities."

2. In the [fifth paragraph] of paragraph 20, the words "other mandatory payments" shall be replaced with the word "fees".

3. In sub-paragraph "g" of paragraph 21:

[In the first paragraph], the words "other mandatory payments" shall be replaced with the word "fees";

[In the second paragraph], the words "mandatory payments" shall be replaced with the word "fees";

[In the third paragraph], the words "other mandatory payments" shall be replaced with the word "fees".

(National Database of Legislative Acts of the Republic of Uzbekistan, June 10, 2020, No. 10/20/2453-1/0732)