Resolution of the Central Bank of the Republic of Uzbekistan, registered 08.01.2007, reg. No. 1080-2

Date of entry into force

• 18.01.2007
• All
• 07.05.2009
• 18.01.2007

Appearance

• Russian
• Uzbek
• O’zb
• Russian|Uzbek
• Russian|O‘zb

Act lost force 07.05.2009

OKOZ:

1.07.00.00.00 Finance and credit legislation. Banking activity / 07.21.00.00 Banking activity / 07.21.02.00 Procedure for opening and maintaining bank accounts;
2.21.00.00.00 Comprehensive documents on amendments and additions / 21.04.00.00 Departmental regulatory legal acts

TSZ:

1. Finance / Banks and other credit institutions. Loans

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Resolution

BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

On Amendments and Additions to the Instruction on Bank Accounts Opened in Banks of the Republic of Uzbekistan

[Registered with the Ministry of Justice of the Republic of Uzbekistan on 8 January 2007. Registration No. 1080-2]

LexUz Comment

This resolution has lost force in accordance with the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 16 March 2009 No. 7/2 “On approval of the Instruction on bank accounts opened in banks of the Republic of Uzbekistan” (reg. No. 1948 of 27.04.2009).

Based on articles 7 and 51 of the Law of the Republic of Uzbekistan “On the Central Bank of the Republic of Uzbekistan”, the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. To amend and add to the Instruction “On bank accounts opened in banks of the Republic of Uzbekistan”, approved by the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 6 October 2001 No. 25/4 (reg. No. 1080 of 10 November 2001) according to the appendix.
2. This resolution enters into force after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.
3. To consider repealed the resolutions of the Board of the Central Bank of the Republic of Uzbekistan dated 28 May 2005 No. 11/6 and dated 26 August 2006 No. 21/5.
4. Supervision over the implementation of this resolution is assigned to the Deputy Chairman of the Central Bank F.H. Bokiyev.

Chairman of the Board of the Central Bank F. MULLAJANOV

Tashkent,
9 December 2006,
No. 30/5

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APPENDIX to the resolution of the Board of the Central Bank dated 9 December 2006 No. 30/5

Amendments and additions made to the Instruction on bank accounts opened in banks of the Republic of Uzbekistan

1. Revise the Preamble as follows:

"This Instruction, in accordance with the Civil Code of the Republic of Uzbekistan, the laws of the Republic of Uzbekistan ‘On the Central Bank of the Republic of Uzbekistan’ and ‘On Banks and Banking Activity’, and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated 20 August 2003 No. 357 ‘On the radical improvement of the registration procedures system for organizing entrepreneurial activity’, defines the procedure for opening, re‑registration and closing of bank accounts of clients in national and foreign currencies."

2. Revise sub‑points (v) and (g) of paragraph 1 as follows:

(v) residents of the Republic of Uzbekistan (hereinafter – residents) – citizens of the Republic of Uzbekistan, foreign citizens and stateless persons having permanent residence in the Republic of Uzbekistan, legal entities registered on the territory of the Republic of Uzbekistan, diplomatic and other representations of the Republic of Uzbekistan abroad, enjoying immunity and diplomatic privileges, as well as representations of organizations of the Republic of Uzbekistan abroad that do not carry out economic or other commercial activity;

(g) non‑residents of the Republic of Uzbekistan (hereinafter – non‑residents) – persons who do not fall under the definition of resident according to sub‑point (v) of paragraph 1 of this Instruction.

3. After the words “non‑residents (excluding natural persons)” in Paragraph 13, add the words “as well as permanent establishments created by non‑residents for conducting activities in the Republic of Uzbekistan, in the manner established by legislation”.

4. Add a paragraph to Paragraph 37 as follows:

"Suspension of operations of entrepreneurial subjects on accounts in banks is carried out by court order, except for identified cases of legalization of income obtained from criminal activity and financing of terrorism."

5. Revise Paragraph 40 as follows:

40. In cases where enterprises do not carry out financial‑economic activity with monetary transactions on bank accounts for six months (for trade and trade‑intermediary enterprises – for three months), except for dekhkan (peasant) and farmer holdings, commercial banks are obliged within three days to provide information about such enterprises to the state tax service authority at the place of their registration for the adoption of appropriate measures.

When a court decision on suspension of operations on bank accounts is presented, banks must, no later than the next working day, close the accounts of the operating subjects. The remaining funds on the closed enterprise accounts are credited by the bank to special non‑use accounts, and the enterprise’s creditor claims presented to the bank for payment are transferred to a separate contingency account.

Funds received in the name of enterprises after the closure of their bank accounts are credited to special non‑use accounts. Funds accumulated on special non‑use accounts are transferred by banks, in priority order, to the repayment of enterprises’ debts to the budget and extra‑budgetary funds, and the remaining amounts are used to repay their creditor claims according to the calendar order of payments.

From the moment the special commission for liquidation of enterprises adopts a decision on the feasibility of further enterprise activity or the appointment, in the established manner, of a liquidation commission, the account of this enterprise is respectively placed at the disposal of the enterprise itself or the liquidation commission.

(Collection of Legislation of the Republic of Uzbekistan, 2007, No. 1‑2, article 17)