Amendments to the Regulation on the Procedure for Imposing Fine Sanctions on Commercial Banks for Violating Established Procedures for Opening Accounts for Customers, Crediting and Debiting Funds, and Providing Cash for Salaries and Other Needs

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 21.02.2006, registration number 1044-1

Date of Entry into Force

03.03.2006

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25.09.2019

03.03.2006

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Document lost its force 25.09.2019

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OKOZ:
1.
07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.19.00 Liability for violation of legislation on banks and banking activity;
2.
21.00.00.00 Comprehensive documents on amendments and additions / 21.04.00.00 Departmental normative-legal documents]
[
TSZ:
1.
Finance / Banks and other credit institutions. Credits]

RESOLUTION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON

ON AMENDMENTS TO THE REGULATION ON THE PROCEDURE FOR IMPOSING FINE SANCTIONS ON COMMERCIAL BANKS FOR VIOLATING THE ESTABLISHED PROCEDURES FOR OPENING ACCOUNTS FOR CUSTOMERS, CREDITING AND DEBITING FUNDS TO THEIR ACCOUNTS, AND PROVIDING CASH FUNDS FOR SALARIES AND OTHER NEEDS ESTABLISHED BY LEGAL ACTS

[Registered by the Ministry of Justice of the Republic of Uzbekistan on February 21, 2006 under No. 1044-1]

This resolution has lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated August 24, 2019, No. 21/12 "On Approval of the Regulation on the Procedure for Imposing Fine Sanctions on Commercial Banks for Violating the Established Procedures for Opening Accounts for Customers, Crediting and Debiting Funds to Their Accounts, and Providing Cash Funds for Salaries and Other Needs Established by Legal Acts", as well as the resolution on recognizing amendments to it as having lost its force (registration number 1044-3, dated 25.09.2019).

In accordance with the Law of the Republic of Uzbekistan "On Electronic Payments" and the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated February 7, 2006, No. 18 "On Amendments to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 264 dated June 22, 2001 'On Additional Measures to Strengthen Cash Circulation and Increase the Responsibility of Commercial Banks'", the Board of the Central Bank resolves:

1. Amendments shall be made to the Regulation on the Procedure for Imposing Fine Sanctions on Commercial Banks for Violating the Established Procedures for Opening Accounts for Customers, Crediting and Debiting Funds to Their Accounts, and Providing Cash Funds for Salaries and Other Needs Established by Legal Acts (June 30, 2001, registration number 1044 — Normative Documents Bulletin, 2001, No. 12), attached hereto.

2. This resolution shall enter into force ten days after the day of its state registration by the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Board of the Central Bank F. MULLAJONOV

Tashkent city,

February 15, 2006,

No. 4/4

ATTACHMENT

to the Resolution of the Board of the Central Bank of February 15, 2006 No. 4/4

Amendments being made to the Regulation on the Procedure for Imposing Fine Sanctions on Commercial Banks for Violating the Established Procedures for Opening Accounts for Customers, Crediting and Debiting Funds to Their Accounts, and Providing Cash Funds for Salaries and Other Needs Established by Legal Acts

1. Clause 1 of the Regulation shall be worded as follows:

"1. This Regulation is developed to ensure the implementation of the Law of the Republic of Uzbekistan 'On Electronic Payments', the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 264 dated June 22, 2001 'On Additional Measures to Strengthen Cash Circulation and Increase the Responsibility of Commercial Banks', and the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 18 dated February 7, 2006 'On Amendments to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 264 dated June 22, 2001 'On Additional Measures to Strengthen Cash Circulation and Increase the Responsibility of Commercial Banks'".

Clause 6 shall be worded as follows:

"6. For violation of the procedure for crediting and debiting funds to customer accounts established by legislation, a fine shall be imposed in the amount of 0.1 percent of the minimum amount of the bank's statutory capital, excluding violations of the established deadlines for making electronic payments and returning erroneously made electronic payments.

If the deadlines for making electronic payments established by legal acts are violated by the bank, it must pay a penalty to the customer in the amount of 0.1 percent of the sum of the delayed electronic payment for each day of delay, but not more than 10 percent of the sum of the delayed electronic payment.

If an electronic payment is erroneously made due to the fault of the bank, it must transfer the funds to the recipient's account without delay from the next business day after the error is detected. Otherwise, the customer has the right to demand from the bank the return of funds, as well as the payment of a penalty in the amount of 0.1 percent of the sum of the erroneously made electronic payment for each day of delay, but not more than 10 percent of the sum of the erroneously made electronic payment, in the manner established by law." (Compilation of Legislation of the Republic of Uzbekistan, 2006, No. 8, Article 58)