Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Amendments to the Rules for Pawnsbrokers Conducting Activities and Operations

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Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on May 07, 2018, registration number 1290-2

Date of Entry into Force

08.05.2018

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08.08.2021

08.05.2018

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Document lost its force on 08.08.2021

[OKOBZ:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.23.00.00 Other Credit Institutions / 07.23.02.00 Pawnsbrokers;

2.21.00.00.00 Comprehensive Documents on 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 to the Rules for Pawnsbrokers Conducting Activities and Operations

[Registered by the Ministry of Justice of the Republic of Uzbekistan on May 7, 2018, registration number 1290-2]

This resolution loses its force on August 8, 2021, based on Resolution No. 5/10 dated April 2, 2021 of the Board of the Central Bank of the Republic of Uzbekistan "On Approval of the Regulation on Coordination and Regulation of Activities of Microcredit Organizations and Pawnsbrokers" (registration number 3300, dated May 7, 2021).

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and Resolution No. PQ-3620 dated March 23, 2018 of the President of the Republic of Uzbekistan "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 to the Appendix to the Rules for Pawnsbrokers Conducting Activities and Operations, approved by Resolution No. 23/4 dated September 22, 2003 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 1290, December 10, 2003) (Bulletin of Normative Documents of Ministries, State Committees and Departments of the Republic of Uzbekistan, 2003, No. 23).

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

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

April 28, 2018,

No. 16/3

Appendix
To Resolution No. 16/3 of the Board of the Central Bank of the Republic of Uzbekistan dated April 28, 2018

AMENDMENTS TO THE RULES FOR PAWNSBROKERS CONDUCTING ACTIVITIES AND OPERATIONS

1. Paragraph 7 shall be stated in the following wording:

"7. A Pawnsbroker:

is not entitled to use or dispose of items placed as collateral or for storage;

is not entitled to charge interest, commissions, and penalties (fines, penalties) in an amount exceeding half of the annual loan amount, or apply other measures of liability under credit agreements;

is not entitled to consider credit applications, service loan accounts, collect payments for granting loans, nor collect penalties for early repayment of loans.

If goods and property placed as collateral or for storage are lost, or if deficiencies are detected, the pawnsbroker must compensate the owner of the property for material damage in the amount of the assessed value of the goods and property indicated in the pledge certificate or storage receipt, unless it proves that these circumstances occurred due to force majeure.

If goods and property placed as collateral or for storage are damaged, the pawnsbroker must compensate the owner of the property for material damage in an amount not exceeding the value of the goods and property indicated in the pledge certificate or storage receipt, unless it proves that the damage occurred due to force majeure."

2. Paragraph 13 shall be stated in the following wording:

"13. The amount and term of the credit, as well as the rate of remuneration for the granted credit, are determined based on the agreement of the parties, taking into account the requirements of these Rules."

(National Database of Legislative Acts, May 08, 2018, No. 10/18/1290-2/1180) ---