On Amendments and Additions to the Regulation on the Procedure for Providing Bank Guarantees by Commercial Banks

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 06.09.2018, registration number 2364-5

Effective Date

07.12.2018

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14.09.2022

07.12.2018

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Document Lost Force 14.09.2022

[
OKOZ:
1.
07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.22.00.00 Lending / 07.22.04.00 Security for Repayment of Bank Credits;
2.
21.00.00.00 Documents of a Complex Nature on Introducing 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 Uzbekistan

On Amendments and Additions to the Regulation on the Procedure for Providing Bank Guarantees by Commercial Banks

[Registered by the Ministry of Justice of the Republic of Uzbekistan on September 6, 2018, registration number 2364-5]

LexUZ Commentary
This decision became invalid based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated August 23, 2022 No. 19/13 "On Approval of the Regulation on the Procedure for Providing Bank Guarantees by Commercial Banks, as well as on Recognizing Amendments and Additions Thereto as Invalid" (registration number 2364-6, 14.09.2022).

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activity", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be introduced to the Regulation on the Procedure for Providing Bank Guarantees by Commercial Banks, approved by Resolution No. 10/1 of the Board of the Central Bank of the Republic of Uzbekistan dated March 24, 2012 (registration number 2364, May 15, 2012) (Collection of Legislation of the Republic of Uzbekistan, 2012, No. 20, Article 223), in accordance with the Appendix.

2. This resolution shall enter into force three months after the day of its official publication.

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

August 18, 2018,

No. 27/7

APPENDIX
To the Resolution No. 27/7 of the Board of the Central Bank of the Republic of Uzbekistan dated August 18, 2018

Amendments and Additions to the Regulation on the Procedure for Providing Bank Guarantees by Commercial Banks

1. Clause 7 shall be stated as follows:

"7. The issue of providing a guarantee shall be considered by the credit committee of the bank (branch) within the limits for providing guarantees specified in the bank's credit policy.

The accounting of issued guarantees shall be maintained at the Head Office, and the correctness of its maintenance shall be assigned to the chairman of the bank's board.".

2. Supplement with clause 7-1 of the following content:

"7-1. Providing a guarantee by the bank shall be executed on a blank subject to strict accounting. The accounting of guarantee blanks shall be kept in a separate book. The form of guarantee blanks shall be established in a unified form in the bank's internal regulations.

Guarantee blanks shall be produced on paper provided with special protection signs in a unified form based on the contract concluded between the Head Office and the State Production Association 'Davlat Belgisi', and delivered by the Head Office to all branches of the bank.".

3. In clause 14, the words "Head Office" shall be replaced with the words "bank (branch)".

(National Database of Legislation, 06.09.2018, No. 10/18/2364-5/1842)