Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 8/4 on Amendments to the Regulation on Measures and Sanctions Applied to Commercial Banks

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 23.05.2019, reg. number 622-9

Date of entry into force

25.08.2019

All

16.09.2020

25.08.2019

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Russian|Uzb

Act lost force 16.09.2020

[OKOS:

1.07.00.00.00 Legislation on finance and credit. Banking activity / 07.19.00.00 Banking system / 07.19.02.00 Commercial banks. Private banks. Foreign banks;

2.21.00.00.00 Comprehensive documents on amendments and additions / 21.04.00.00 Departmental normative legal acts]

[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 Measures and Sanctions Applied by the Central Bank to Commercial Banks for Violations of Banking Legislation and Regulatory Acts Governing Banking Activity

[Registered by the Ministry of Justice of the Republic of Uzbekistan on May 23, 2019. Registration No. 622-9]

LexUz Commentary

This resolution lost force in accordance with the [resolution](/docs/4998902?ONDATE=16.09.2020 00#4999048) 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 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 resolution of the President of the Republic of Uzbekistan dated March 23, 2018 No. PP-3620 "On Additional Measures to Increase the Availability of Banking Services", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Make amendments and additions 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 activity, 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 Agencies of the Republic of Uzbekistan, 2000, No. 10), according to the appendix.

2. This resolution enters into force three months from the date of its official publication.

Acting Chairman of the Central Bank T. ISHMETOV

Tashkent,

April 20, 2019,

No. 8/4

APPENDIX
to the resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 20, 2019 No. 8/4

Amendments and additions made 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 Activity

1. In the [title](/docs/630878?ONDATE=05.02.1999 00#630928) of the Regulation, replace the words "for violations of banking legislation and regulatory acts governing banking activity" with the words ", microcredit organizations and pawnshops for violations of requirements of normative legal acts governing the activity of banks and other credit organizations".

2. [Paragraph 1.1](/docs/630878?ONDATE=05.02.1999 00#630974) is to be worded as follows:

"1.1. This Regulation, in accordance with the laws of the Republic of Uzbekistan 'On the Central Bank of the Republic of Uzbekistan', 'On Banks and Banking Activity' and 'On Microcredit Organizations', determines the procedure for applying measures and sanctions by the Central Bank to commercial banks, microcredit organizations and pawnshops for violations of normative legal acts governing the activity of banks and other credit organizations."

3. Supplement with Section VI2 of the following content:

"VI2. Sanctions Applied for Violations of Consumer Rights of Banking Services

6.23. In the event of commercial banks and other credit organizations violating consumer rights of banking services defined by legislation, the Central Bank has the right to apply the following fines to them:

to a commercial bank — in the amount of up to 0.1% of the established minimum size of the authorized capital of the commercial bank;

to a microcredit organization — in the amount of 0.1% of the established minimum size of the authorized fund of the microcredit organization;

to a pawnshop — in ten times the amount of the minimum wage."

4. [Paragraph 7.1](/docs/630878?ONDATE=01.06.2000 00#709082) is to be worded as follows:

"7.1. Measures and sanctions provided for by this Regulation are applied to credit organizations by decision of the Banking Supervision Committee based on a directive of the Central Bank of the Republic of Uzbekistan."

(National Database of Legislation, May 24, 2019, No. 10/19/622-9/3178)