Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 26/9 on Amendments to the Regulation on Measures and Sanctions Applied by the Central Bank to Commercial Banks for Violations of Banking Legislation

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 24.10.2017, reg. number 622-7

Date of entry into force

25.10.2017

All

16.09.2020

25.10.2017

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Act lost force 16.09.2020

[OKOZ:

1.21.00.00.00 Complex documents on amendments and additions / 21.04.00.00 Departmental normative legal acts]

Resolution

of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments to the Regulation on Measures and Sanctions Applied by the Central Bank to Commercial Banks for Violations of Banking Legislation and Regulatory Acts Governing Banking Activities

[Registered by the Ministry of Justice of the Republic of Uzbekistan on October 24, 2017. Registration No. 622-7]

Commentary LexUz

This resolution lost force in accordance with the [resolution](/docs/4998902?ONDATE=16.09.2020 00#4999043) of the Board of the Central Bank of the Republic of Uzbekistan dated September 4, 2020 No. 13/9 "On Recognizing Certain Normative Legal Acts Adopted by the Central Bank of the Republic of Uzbekistan as Having Lost Force" (reg. No. 3282 dated 16.09.2020).

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and the Decree of the President of the Republic of Uzbekistan dated September 2, 2017 No. UP-5177 "On Priority Measures for the Liberalization of Currency Policy", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Make amendments to the [Regulation](/docs/630878?ONDATE=05.02.1999 00#630927) on Measures and Sanctions Applied by the Central Bank to Commercial Banks for Violations of Banking Legislation and Regulatory Acts Governing Banking Activities, approved by the Board of the Central Bank of the Republic of Uzbekistan on December 26, 1998 No. 74 (reg. No. 622 dated February 5, 1999) (Bulletin of Normative Acts of Ministries, State Committees and Departments of the Republic of Uzbekistan, 2000, No. 10), according to the appendix.

2. This resolution enters into force from the day of its official publication.

Chairman of the Central Bank M. NURMURATOV

Tashkent,

September 23, 2017,

No. 26/9

APPENDIX
to the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 23, 2017 No. 26/9

Amendments to the Regulation on Measures and Sanctions Applied by the Central Bank to Commercial Banks for Violations of Banking Legislation and Regulatory Acts Governing Banking Activities

1. In [paragraph 5.1](/docs/630878?ONDATE=28.03.2005 00#709174), replace the words "authorized bank" and "authorized bank" with "commercial bank" and "commercial bank" respectively.

2. In the [first paragraph](/docs/630878?ONDATE=21.10.2013 00#2255804) of paragraph 5.2, replace "authorized banks" with "commercial banks".

3. In [paragraphs 5.3](/docs/630878?ONDATE=05.02.1999 00#631029) and [5.4](/docs/630878?ONDATE=05.02.1999 00#631030), replace the words "authorized bank" with "commercial bank".

4. Recognize [paragraphs 5.6](/docs/630878?ONDATE=05.02.1999 00#631034) and [5.9](/docs/630878?ONDATE=01.06.2000 00#708940) as having lost force.

5. In [paragraph 5.7](/docs/630878?ONDATE=08.09.2014 00#2458208), replace the words "authorized banks", "authorized banks" and "authorized bank" with "commercial banks", "commercial banks" and "commercial bank" respectively.

6. In [paragraph 5.8](/docs/630878?ONDATE=08.09.2014 00#2458211), replace the words "authorized banks" and "authorized bank" with "commercial banks" and "commercial bank" respectively.

7. In [paragraph 5.10](/docs/630878?ONDATE=28.03.2005 00#709358):

in the [first paragraph](/docs/630878?ONDATE=28.03.2005 00#709358), replace the words "authorized banks" and "authorized bank" with "commercial banks" and "commercial bank" respectively;

[exclude the third paragraph](/docs/630878?ONDATE=28.03.2005 00#709363).

8. Redraft [paragraphs 5.12](/docs/630878?ONDATE=01.06.2000 00#709009) and [5.13](/docs/630878?ONDATE=01.06.2000 00#709038) as follows:

"5.12. In case of repeated violations provided for in Section V of this Regulation, after applying the corresponding penalty sanctions, the Central Bank sends a directive to commercial banks to take appropriate measures to eliminate deficiencies in their work.

In case of non-compliance with the aforementioned directive, the Central Bank has the right to restrict the conduct of operations in foreign currency for a period of up to six months.

5.13. Fines provided for in paragraphs 5.2 – 5.11 of this Regulation are collected in the national currency of the Republic of Uzbekistan.".

(National Legislative Database, 25.10.2017, No. 10/17/622-7/0178)