Resolution of the Central Bank of the Republic of Uzbekistan, registered 30.05.2005, registration number 1477

Date of entry

09.06.2005

All

30.11.2021

10.06.2020

17.11.2017

03.10.2008

09.06.2005

Appearance

Russian

Uzbek

O’zb

Russian|Uzbek

Russian|O‘zb

OKOZ:

1.07.00.00.00 Finance and credit legislation. Banking activity / 07.21.00.00 Banking activity / 07.21.08.00 Bank operations with securities;

2.07.00.00.00 Finance and credit legislation. Banking activity / 07.25.00.00 Issuance of securities / 07.25.07.00 Destruction (cancellation) of securities

TSZ:

1. Finance / Banks and other credit institutions. Loans;

2. Finance / Securities. Securities market

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Resolution

BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

ON THE APPROVAL OF THE REGULATION ON THE PROCEDURE FOR DESTROYING BLANKS OF SIMPLE PROMISSORY NOTES AND BANK DEPOSIT CERTIFICATES IN THE NEW EDITION

[Registered with the Ministry of Justice of the Republic of Uzbekistan on 30 May 2005. Registration No. 1477]

See the previous edition.

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

• (preamble in the edition of the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 6 September 2008 No. 20/3 (reg. No. 1477-1 of 23.09.2008) – SZ RU, 2008, No. 39, p. 398)

1. Approve the attached Regulation on the procedure for destroying blanks of simple promissory notes and bank deposit certificates in the new edition.
2. From the date of entry into force of this resolution, declare null and void the Temporary Regulation on the destruction of used and damaged blanks of simple promissory notes of banks (reg. No. 555 of 30 November 1998) and its amendment No. 555‑1 of 1 April 1999.
3. This resolution shall enter into force ten days after its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Board of the Central Bank F. MULLAJANOV

Tashkent,

12 May 2005,

No. 10/6

APPROVED

by resolution of the Board of the Central Bank dated 12 May 2005 No. 10/6

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REGULATION

on the procedure for destroying blanks of simple promissory notes and bank deposit certificates

See the previous edition.

This Regulation is developed in accordance with the laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", "On Banks and Banking Activity", "On the Securities Market" and defines the procedure for destroying blanks of simple promissory notes and deposit (savings) certificates (hereinafter – Securities Blanks) of banks.

(preamble in the edition of the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 6 September 2008 No. 20/3 (reg. No.1477-1 of 23.09.2008) – SZ RU, 2008, No. 39, p. 398)

I. General Provisions

See the previous edition.

1. Upon the maturity of obligations or their early fulfillment for issued simple promissory notes or deposit (savings) certificates, which are securities under the Law of the Republic of Uzbekistan "On the Securities Market", the issuing bank shall, in the manner provided by law, make payment against presentation of these securities. Such securities are considered redeemed.

(punkt 1 in the edition of the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 6 September 2008 No. 20/3 (reg. No. 1477-1 of 23.09.2008) – SZ RU, 2008, No. 39, p. 398)

2. After redemption of simple promissory notes or deposit (savings) certificates, the branches of commercial banks shall forward the redeemed securities blanks together with an inventory, through the territorial administrations of commercial banks, in a centralized manner to the head bank for storage and subsequent destruction.

Damaged and/or unused securities blanks of banks must also be stored in the head bank’s repository. The branches of commercial banks shall forward damaged and/or unused securities blanks together with an inventory, through the territorial administrations of commercial banks, in a centralized manner to the head bank for storage and subsequent destruction together with the redeemed blanks.

See the previous edition.

3. On the blanks of redeemed securities, as well as on damaged and/or unused securities blanks, the inscription "Redeemed" must be entered.

(punkt 3 in the edition of the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 25 May 2020 No. 12/6 (reg. No. 1477-3 of 10.06.2020) – National Legal Database, 10.06.2020, No. 10/20/1477-3/0733)

4. Securities blanks of banks are accounted for in the head bank on a separate off‑balance sheet personal account 90327 "Bank Securities Blanks".

5. Archival copies of securities blanks transferred by the printing enterprise (the manufacturer of these blanks) are accounted for in the head bank on a separate off‑balance sheet personal account 90327 "Bank Securities Blanks".

6. Responsibility for the correct organization of accounting and compliance with the established storage procedure of banks' securities blanks is placed on the bank’s director, chief accountant and cash department head.

II. Procedure for Destroying Securities Blanks

7. Blanks of redeemed securities of banks are subject to destruction no earlier than three years after the date of redemption or cancellation of the securities issue.

8. The archival copy of a simple promissory note blank held by the bank is subject to destruction no earlier than three years from its date of production by the printing enterprise (manufacturer).

9. The archival copy of a deposit (savings) certificate blank held by the bank is subject to destruction no earlier than four years from its date of production by the printing enterprise (manufacturer).

10. Banks must inform the Central Bank of their intention to destroy securities blanks not less than 30 days before the planned destruction date.

11. Blanks of redeemed securities shall not be destroyed in the following cases:

• a) if the securities blanks are attached to criminal cases initiated by investigative bodies, the prosecutor’s office, investigative or inquiry authorities;

• b) if the securities blanks at the time of destruction constitute documentary evidence in judicial proceedings;

• v) if the limitation period for these securities has been extended by a court decision.

See the previous edition.

12. In accordance with the report note of the head of the securities department of the head bank, an order signed by the Chairman of the Board of the bank shall be issued, indicating the composition of the commission organizing the destruction, the method (burning, cutting, shredding) and the place of destruction.

13. Destruction of securities blanks may be carried out by the issuing bank itself or by another organization specially engaged for this purpose.

14. The commission shall include the following employees: Deputy Chairman of the Board, head of the security and information protection department, chief accountant or his deputy, head of the cash operations department of the head bank, head of the securities department and the responsible employee of the organization that will carry out the destruction of the bank’s securities blanks, if such an organization is engaged.

15. When withdrawing securities blanks for destruction, an off‑balance sheet expense order is drawn up on account 90327 "Bank Securities Blanks".

16. When withdrawing securities blanks from the cash desk for destruction, a sheet‑by‑sheet recount is performed, after which an inventory in three copies is compiled. The inventory states that the securities blanks are withdrawn from the cash desk for destruction, refers to the order number and date, indicates the quantity, number, series and nominal value of the blanks withdrawn for destruction. One copy of the inventory is stapled to the cash documents of the commercial bank day, the second copy – to the accounting documents of the bank day, and the third copy is transferred to the securities department of the commercial bank.

17. After the recount, commission members place the securities blanks into special bags intended for transport to the destruction site, to which labels are attached indicating the date, bank name, name of the valuables, quantity and total amount of the securities blanks. The labels are signed by the following commission members: Deputy Chairman of the Board, head of the cash operations department, chief accountant (or deputy chief accountant), after which the bags are sealed by the cash department head.

18. Upon arrival at the destruction site, commission members verify the integrity of the bags, seals and labels. In case of damage to the bags or absence of seals and labels, the commission members draw up an act of damage to the bags or seals and labels and such bags are returned to the bank for verification of the safety of the securities blanks contained therein.

19. The presence of all commission members is mandatory during the destruction process.

20. After the destruction process, an act signed by all commission members in three copies (or four copies if the destruction was performed by an organization other than the issuing bank) shall be drawn up, containing at minimum the following information:

• a) composition of the destruction commission with full names and positions;
• b) full name of the issuing bank;
• v) date of cancellation of the securities issue registration, if it was cancelled;
• g) date of destruction of the securities blanks;
• d) type of securities, registration number of the securities issue;
• e) total number of destroyed securities blanks;
• zh) method of destruction of the securities blanks.

See the previous edition.

21. The act is approved by the signature of the Chairman of the Board of the bank.

(punkt 21 in the edition of the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated 25 May 2020 No. 12/6 (reg. No. 1477-3 of 10.06.2020) – National Legal Database, 10.06.2020, No. 10/20/1477-3/0733)

22. Acts are distributed as follows:

• a) first copy – stapled to the cash documents of the head bank day;
• b) second copy – transferred to the securities department of the head bank;
• v) third copy – transferred to the cash operations department for confirmation of the write‑off of destroyed securities blanks from the off‑balance sheet account;
• g) fourth copy – transferred to the organization performing the destruction (if the destruction was not carried out by the issuing bank).

23. The bank must inform the Central Bank of the destruction of securities blanks no later than the next working day after the destruction date, providing copies of the order establishing the destruction commission and copies of the act of destruction of the bank’s securities blanks.

24. In the securities blanks accounting journal, an entry shall be made on the destruction of securities blanks indicating the type of securities and the total number of destroyed blanks.

III. Retention Periods for Destruction Documents

25. The procedure and retention periods for documents (acts, inventories) concerning the destruction of securities blanks are determined in accordance with the legislation.

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Commentary LexUz

See: Instruction on the destruction of documentary securities, approved by the order of the General Director of the Center for Coordination and Control of the Securities Market under State Property of the Republic of Uzbekistan dated 13 March 2002 No. 1125 (Reg. No. 1125 of 15 April 2002).

(Collected Legislation of the Republic of Uzbekistan, 2005, No. 22, p. 163; 2008, No. 39, p. 398; National Legal Database, 17.11.2017, No. 10/17/1477-2/0268; 10.06.2020, No. 10/20/1477-3/0733; 30.11.2021, No. 10/21/3338/1117)