Regulatory Alerts1998-12-19 | 426Added · Updated
Procedure for Registering Changes to the Authorized Capital Amount, Shareholder Composition, Name and Location, and Amendments and Additions to the Charter
The document establishes the procedures for commercial banks to register changes to their authorized capital, shareholder composition, name, and location, as well as amendments to their charters with the Central Bank of Uzbekistan. It mandates that charter amendments require approval by a three-fourths majority of voting shares or by the Government for state-owned banks, and sets a 30-day deadline for the Central Bank to process registration requests. Changes to authorized capital require prior consent from the Central Bank, with specific submission requirements for capital increases via new share issuance or nominal value adjustments, and capital reductions via share buybacks or nominal value decreases. The regulation also defines significant shareholders and related parties, requiring notification for acquisitions exceeding 5% and prior Central Bank consent for acquisitions exceeding 20% of voting shares.