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

Registration Date: April 27, 2009, Registration No. 1948

Effective Dates:

• May 7, 2009
• February 9, 2023 (Expired)
• July 28, 2021
• February 10, 2020
• August 23, 2019
• February 20, 2019
• October 25, 2018
• August 10, 2018
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• October 11, 2017
• April 1, 2017
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• February 16, 2015
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• August 26, 2011
• October 2, 2010
• February 7, 2010
• November 13, 2009
• June 30, 2009
• May 7, 2009

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Document Status: Expired on February 9, 2023

[OKONZ: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.02.00 Procedure for Opening and Maintaining Bank Accounts] [TSZ: 1. Finance / Banks and Other Credit Institutions. Credits]

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

On Approval of the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan

[State registered by the Ministry of Justice of the Republic of Uzbekistan on April 27, 2009 under No. 1948]

This resolution has lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated January 4, 2023, No. 30/18 "On Approval of the Instruction on the Procedure for Opening, Maintaining, and Closing Bank Accounts" (Registration No. 3420, dated February 8, 2023).

Based on Articles 7 and 51 of the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Approve the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan as per the Appendix.

2. Consider the following to have lost their force from the date this resolution enters into force:

   • Resolution "On Approval of the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan" (November 10, 2001, Registration No. 1080 — Bulletin of Normative Documents, 2001, No. 21);

   • Resolution "On Amendments and Additions to the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan" (September 29, 2003, Registration No. 1080-1 — Bulletin of Normative Documents, 2003, Nos. 17-18);

   • Resolution "On Amendments and Additions to the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan" (January 8, 2007, Registration No. 1080-2 — Collection of Legislative Acts of the Republic of Uzbekistan, 2007, Nos. 1-2, Article 17);

   • Resolution "On Amendments and Additions to the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan" (August 7, 2007, Registration No. 1080-3 — Collection of Legislative Acts of the Republic of Uzbekistan, 2007, Nos. 31-32, Article 337);

   • Resolution "On Additions to the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan" (May 31, 2008, Registration No. 1080-4 — Collection of Legislative Acts of the Republic of Uzbekistan, 2008, Nos. 22-23, Article 216).

3. This resolution shall enter into force ten days after the date of its state registration by the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Central Bank F. MULLAJONOV

Tashkent, March 16, 2009, No. 7/2

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APPROVED by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated March 16, 2009, No. 7/2

INSTRUCTION

On Opening Bank Accounts in Banks of the Republic of Uzbekistan

This Instruction establishes the procedure for opening, re-registering, and closing bank accounts in national and foreign currencies by banks, in accordance with the Civil Code of the Republic of Uzbekistan, the Laws "On the Central Bank of the Republic of Uzbekistan," "On Banks and Banking Activities," "On Currency Regulation," and "On Electronic Documents." (Preamble in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated March 4, 2017, No. 4/5 (Registration No. 1948-12, March 24, 2017) — CLRU, 2017, No. 12, Article 192)

I. General Provisions

1. The following terms are used in this Instruction:

   bank account — a means of implementing relations arising between the bank and the customer (account holder) as a result of the bank undertaking to accept incoming funds to the account, make deposits, transfer and pay out corresponding funds in the customer's account, and execute instructions regarding other operations on the account concluded through a bank account agreement;

   savings deposit account — an account where funds accumulated for a specific purpose based on periodic contributions by customers are recorded, directed towards that purpose, or returned upon termination of the contract;

   time deposit account — an account where funds deposited by customers for a strictly agreed term in the contract are recorded;

   loan account — an account where credits granted to customers in the established order are recorded;

   demand deposit account — an account where funds payable or transferable upon the first request of customers are recorded. (Sixth paragraph of Item 1 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated March 4, 2017, No. 4/5 (Registration No. 1948-12, March 24, 2017) — CLRU, 2017, No. 12, Article 192)

2. Customers may open the following types of accounts at banks: (First paragraph of Item 2 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

   a) demand deposit accounts; b) savings deposit accounts; c) time deposit accounts; (Sub-item 'g' of Item 2 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

   d) other deposit accounts.

   The first demand deposit account opened in national currency by a business entity upon its initial state registration is considered its main demand deposit account (hereinafter referred to as the main account). All subsequent demand deposit accounts opened in national and foreign currencies by the business entity after opening the main account are considered its secondary accounts. (Eighth paragraph of Item 2 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

3. Legal and natural persons independently choose banks to provide them with settlement and cash services and have the right to open demand deposit accounts in national and foreign currencies, as well as savings, time, and other deposit accounts, at one or several banks. (First paragraph of Item 3 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655) (Second paragraph of Item 3 added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated March 4, 2017, No. 4/5 (Registration No. 1948-12, March 24, 2017) — CLRU, 2017, No. 12, Article 192)

4. Budget accounts are opened for budget-funded institutions to receive and use funds allocated from the State Budget, as well as demand, savings, and time deposit accounts to record their extra-budgetary funds.

   Separate secondary demand deposit accounts are opened for each construction object for the single customer financing capital construction from centralized funds. (Item 5 lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 5, 2015, No. 24/3 (Registration No. 1948-10, September 15, 2015) — CLRU, 2015, No. 37, Article 493)

5. In accordance with Article 11 of the Law of the Republic of Uzbekistan "On Bank Secrecy," information constituting bank secrecy is submitted to state tax service bodies in cases related to taxation issues concerning the bank customer (representative) in accordance with legislative acts. (Item 6 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021, No. 16-mh (Registration No. 3313, July 28, 2021) — , July 28, 2021, No. 10/21/3313/0724)

6. When opening bank accounts, customers conclude a bank account agreement (a bank deposit agreement for natural persons' deposits). (First paragraph of Item 7 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated July 24, 2010, No. 25/3 (Registration No. 1948-4, September 22, 2010) — CLRU, 2010, No. 38, Article 337)

   A bank account agreement (a bank deposit agreement for natural persons' deposits) is implemented in written form based on the agreement concluded between the bank and its customers, or by accepting an offer agreement through remote service systems. (Item 7 supplemented with a second paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019, No. 33/6 (Registration No. 1948-19, February 10, 2020) — National Database of Legal Acts, February 10, 2020, No. 10/20/1948-19/0148)

   Relations arising under a bank account agreement (a bank deposit agreement for natural persons' deposits) are regulated by the Civil Code of the Republic of Uzbekistan and other legislative acts. (Third paragraph of Item 7 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021, No. 16-mh (Registration No. 3313, July 28, 2021) — , July 28, 2021, No. 10/21/3313/0724)

   Conditions for crediting incoming funds to the customer's account and making deposits, executing the customer's instructions regarding the disposal of funds in the account, rights and obligations of both the customer and the bank in this regard, commissions payable for bank services, and other conditions are established in the bank account agreement.

   It is prohibited to stipulate in the bank account agreement a condition for collecting intermediary fees (for credit turnover) for depositing funds received by the customer's bank account.

   Banks do not charge fees for services when small business entities pay taxes and fees from their accounts to the State Budget of the Republic of Uzbekistan. (Sixth paragraph of Item 7 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019, No. 33/6 (Registration No. 1948-19, February 10, 2020) — National Database of Legal Acts, February 10, 2020, No. 10/20/1948-19/0148)

   Banks are prohibited from requiring subjects of entrepreneurial activity to stamp documents or certify documents with a seal. (Item 7 supplemented with a sixth paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018, No. 30/8 (Registration No. 1948-16, October 25, 2018) — National Database of Legal Acts, October 25, 2018, No. 10/18/1948-16/2099)

7. Banks must open accounts for customers without delay starting from the next working day after the submission of documents provided for in this Instruction, unless otherwise provided by legislative acts. (First paragraph of Item 8 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021, No. 16-mh (Registration No. 3313, July 28, 2021) — , July 28, 2021, No. 10/21/3313/0724)

   Documents for opening accounts are submitted personally by customers with sample signatures and seal impressions indicated on a sheet, or by representatives authorized by the customer, except in cases of remote account opening during the state registration process for legal entities whose founders are residents of the Republic of Uzbekistan and individual entrepreneurs. (Second paragraph of Item 8 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

   Banks are prohibited from requesting additional documents other than those provided for in this Instruction. (Third paragraph of Item 8 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 5, 2015, No. 24/3 (Registration No. 1948-10, September 15, 2015) — CLRU, 2015, No. 37, Article 493)

   Customers are responsible for the authenticity of the documents submitted for opening accounts. (Fifth paragraph of Item 8 added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019, No. 33/6 (Registration No. 1948-19, February 10, 2020) — National Database of Legal Acts, February 10, 2020, No. 10/20/1948-19/0148) (Sixth paragraph of Item 8 added based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019, No. 33/6 (Registration No. 1948-19, February 10, 2020) — National Database of Legal Acts, February 10, 2020, No. 10/20/1948-19/0148)

8¹. If there is no opportunity to take measures to adequately check the customer in accordance with legislation on combating the legalization of income obtained from criminal activities, financing of terrorism, and financing of proliferation of weapons of mass destruction, the bank refuses to open an account for the customer. (First paragraph of Item 8¹ in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021, No. 16-mh (Registration No. 3313, July 28, 2021) — , July 28, 2021, No. 10/21/3313/0724)

8². Based on the requirements of the Financial Action Task Force (FATF), banks may remotely open bank accounts in national and foreign currencies for legal entities whose founders are residents of the Republic of Uzbekistan and individual entrepreneurs, provided that the necessary conditions for remote identification of applicants exist.

Opening a bank account for business entities is carried out by accepting an offer of a bank account agreement placed in the automated system for state registration and accounting of business entities.

Such legal entities and individual entrepreneurs may carry out payments after submitting two sheets with sample signatures according to the form in Appendix 3 of this Instruction and a document confirming the identity of the person authorized to sign payment documents on their behalf (passport or equivalent). Copies are made from the identity document, and the original is returned. (Item 8² in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

9. Actions for opening and closing accounts for customers, as well as temporarily suspending and resuming the withdrawal of funds from accounts, are carried out immediately on the same day and are transmitted to the Committee of State Taxes of the Republic of Uzbekistan through the National Information Base of Bank Depositors. (Item 9 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 19, 2014, No. 12/3 (Registration No. 1948-8, April 30, 2014) — CLRU, 2014, No. 18, Article 205)

10. Legal entities, individual entrepreneurs, and peasant farms that are bank customers keep all documents specified in this Instruction and copies of amendments and additions to these documents, which serve as the basis for opening bank accounts, in separate legal folders for each customer.

    Information in legal folders may be formed electronically through the bank's special software. (Item 10 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019, No. 33/6 (Registration No. 1948-19, February 10, 2020) — National Database of Legal Acts, February 10, 2020, No. 10/20/1948-19/0148)

11. Banks maintain a register of customers' accounts in the form provided in Appendix 1 of this Instruction. This book is maintained in electronic form. (Item 11 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

II. Procedure for Opening Demand, Savings, Time, and Other Deposit Accounts in National Currency

12. Resident legal entities, individual entrepreneurs, and peasant farms that are subjects of entrepreneurial activity submit the following documents to the bank to open demand deposit accounts in national currency:

    a) application for opening an account; (Sub-item 'a' of Item 12 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

    b) two sheets with sample signatures according to the form provided in Appendix 3 of this Instruction; (Sub-item 'b' of Item 12 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018, No. 30/8 (Registration No. 1948-16, October 25, 2018) — National Database of Legal Acts, October 25, 2018, No. 10/18/1948-16/2099)

    c) a document confirming the identity of the person authorized to sign payment documents on behalf of the customer (passport or equivalent). Copies are made from the identity document, and the original is returned. (Sub-item 'c' of Item 12 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2017, No. 35/6 (Registration No. 1948-14, January 17, 2018) — National Database of Legal Acts, January 17, 2018, No. 10/18/1948-14/0583)

13. Resident legal entities that are not subjects of entrepreneurial activity and budget-funded institutions submit the following documents to the bank to open demand deposit accounts in national currency:

    a) application for opening an account; (Sub-item 'a' of Item 13 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655) (Previous edition see above) (Sub-item 'b' of Item 13 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2014, No. 47/10 (Registration No. 1948-9, February 9, 2015) — CLRU, 2015, No. 6, Article 73)

    c) two sheets with sample signatures and seal impressions according to the form provided in Appendix 3a of this Instruction; (Sub-item 'c' of Item 13 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018, No. 30/8 (Registration No. 1948-16, October 25, 2018) — National Database of Legal Acts, October 25, 2018, No. 10/18/1948-16/2099)

    d) founding documents (charter agreement, charter) and amendments/additions thereto for resident legal entities that are not subjects of entrepreneurial activity, as well as a document confirming the identity of the person authorized to sign payment documents on behalf of the legal entity (passport or equivalent). Copies are made from these documents, and the originals are returned; (Sub-item 'd' of Item 13 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2017, No. 35/6 (Registration No. 1948-14, January 17, 2018) — National Database of Legal Acts, January 17, 2018, No. 10/18/1948-14/0583)

    e) document confirming registration with state tax service bodies (certificate). (Item 13 supplemented with sub-item 'd' based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 5, 2015, No. 24/3 (Registration No. 1948-10, September 15, 2015) — CLRU, 2015, No. 37, Article 493)

14. Representative offices and branches of resident legal entities submit the following documents to the bank to open demand deposit accounts:

    a) application for opening an account; (Sub-item 'a' of Item 14 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019, No. 3/4 (Registration No. 1948-17, February 20, 2019) — National Database of Legal Acts, February 20, 2019, No. 10/19/1948-17/2655)

    b) petition of the legal entity (the petition must indicate the legal entity's "Taxpayer Identification Number" and "Unique Number");

    c) two sheets with sample signatures according to the form provided in Appendix 3 of this Instruction for subjects of entrepreneurial activity; (Sub-item 'c' of Item 14 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018, No. 30/8 (Registration No. 1948-16, October 25, 2018) — National Database of Legal Acts, October 25, 2018, No. 10/18/1948-16/2099)

    c¹) two sheets with sample signatures and seal impressions according to the form provided in Appendix 3a of this Instruction for resident legal entities that are not subjects of entrepreneurial activity; (Item 14 supplemented with sub-item 'c¹' based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018, No. 30/8 (Registration No. 1948-16, October 25, 2018) — National Database of Legal Acts, October 25, 2018, No. 10/18/1948-16/2099)

    d) document defining the powers granted to the representative office or branch, and a document confirming the identity (passport or equivalent) of the person authorized to sign payment documents on behalf of the representative office or branch. Copies are made from these documents, and the originals are returned. (Sub-item 'd' of Item 14 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2017, No. 35/6 (Registration No. 1948-14, January 17, 2018) — National Database of Legal Acts, January 17, 2018, No. 10/18/1948-14/0583) (Previous edition see above) (Sub-item 'd' of Item 14 removed based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2017, No. 35/6 (Registration No. 1948-14, January 17, 2018) — National Database of Legal Acts, January 17, 2018, No. 10/18/1948-14/0583)

15. A temporary (fund-raising) account 29801 — "Accounts with Customers" in national and/or foreign currency may be opened for founders (participants) to make initial contributions to form the authorized capital for economic entities intending to carry out their activities by organizing a legal entity, until state registration.

An application for opening an account in voluntary form in the name of the founders (participants) is submitted to the bank by their authorized representative according to the established procedure for opening a temporary account.

After state registration, a main account is opened for such an economic entity in accordance with this Instruction, funds from the temporary account are transferred to this account, and the temporary account is closed.

16. Non-resident legal entities carrying out activities in the Republic of Uzbekistan, participants in open electronic auctions of commodity-raw material exchanges, foreign investors selling (buying) shares in organizational auctions, as well as permanent establishments of non-residents carrying out activities in the Republic of Uzbekistan in the manner established by legislation, submit the following documents to the bank to open deposit accounts until they are required to hold national currency: (Paragraph 16, first paragraph, in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019 No. 33/6 (registration number 1948-19, 10.02.2020) — National Database of Legislation of the Republic of Uzbekistan, 10.02.2020, 10/20/1948-19/0148-son)

a) an application for opening an account; (The sub-paragraph "a" of paragraph 16 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son)

b) a copy of the certificate issued by the tax service authorities of the state confirming the issuance of the taxpayer's identification number, unless otherwise provided by legislative acts; (The sub-paragraph "b" of paragraph 16 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

c) two sheets with specimen signatures and seal impressions in the form provided in Appendix 4 of this Instruction; (The sub-paragraph "c" of paragraph 16 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2014 No. 47/10 (registration number 1948-9, 09.02.2015) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami (Collection of Legislation of the Republic of Uzbekistan), 2015, No. 6, Article 73) See previous edition.

d) a document confirming the identity of the person authorized to sign payment documents on behalf of the non-resident legal entity (passport or equivalent document). After the original identity document is presented, the bank makes a copy of it. (Paragraph 16 was supplemented with sub-paragraph "d" based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated October 17, 2009 No. 29/4 (registration number 1948-2, 03.11.2009) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2009, No. 45, Article 487)

e) copies of the constituent documents (founding agreement, charter) of non-resident legal entities carrying out activities in the Republic of Uzbekistan, participants in open electronic auctions of commodity-raw material exchanges, foreign investors selling (buying) shares in organizational auctions, as well as permanent establishments of non-residents carrying out activities in the Republic of Uzbekistan in the manner established by legislative acts, certified by a consul or notary, including amendments and additions made to them; (The sub-paragraph "e" of paragraph 16 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

f) a copy of the contract for brokerage services between a non-resident legal entity participating in open electronic auctions of a commodity-raw material exchange and a exchange broker;

g) a copy of the contract for brokerage services between foreign investor non-resident legal entities selling (buying) shares in organizational auctions and an investment intermediary. (Paragraph 16 was supplemented with sub-paragraphs "d", "e", and "g" based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated July 14, 2018 No. 24/7 (registration number 1948-15, 09.08.2018) — National Database of Legislation of the Republic of Uzbekistan, 10.08.2018, 10/18/1948-15/1688-son)

17. An application for opening an account and a document confirming identity (passport or equivalent document) are submitted to the bank by resident and non-resident physical persons to open deposit accounts in national currency (a copy is made, and the original is returned). The application for opening an account must be submitted in person by physical persons, except in cases provided for by legislative acts. (The first paragraph of paragraph 17 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

After physical persons have opened a deposit account at a bank (branch) of their choice in the manner established by this Instruction, they may open other deposit accounts at that bank (branch) using remote service systems for bank accounts. (Paragraph 17 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2017 No. 35/6 (registration number 1948-14, 17.01.2018) — National Database of Legislation of the Republic of Uzbekistan, 17.01.2018, 10/18/1948-14/0583-son)

Resident physical persons may open bank accounts through the bank's remote service systems, provided that the bank takes the necessary measures in the manner established by legislative acts for the identification and adequate verification of resident physical persons. (The third paragraph of paragraph 17 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

The bank must have the opportunity to identify and adequately verify resident physical persons to open deposit accounts for resident physical persons who already have bank accounts opened in other banks through remote service systems.

Identity documents (passport or equivalent document) of resident physical persons may be stored in electronic form. (Paragraph 17 was supplemented with paragraphs based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019 No. 33/6 (registration number 1948-19, 10.02.2020) — National Database of Legislation of the Republic of Uzbekistan, 10.02.2020, 10/20/1948-19/0148-son)

18. Legal entities and individual entrepreneurs submit an application for opening an account to open secondary, savings, and term deposit accounts at the bank servicing their main account. This application may also be submitted in electronic form. (Paragraph 18 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son) See previous edition.

19. Legal entities and individual entrepreneurs must submit all documents submitted for opening a main account when opening term and savings deposit accounts in other banks until they are required to hold national currency. (The first paragraph of paragraph 19 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated May 23, 2009 No. 16/1 (registration number 1948-1, 20.06.2009) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2009, No. 26, Article 300) See previous edition. (The second paragraph of paragraph 19 was issued based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son)

20. The procedure for opening other deposit accounts is established by legislative acts. (Paragraph 20 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

III. Procedure for opening savings, term, and other deposit accounts in foreign currency

21. The following documents are submitted to the bank by customers to open accounts in foreign currencies:

a) documents listed in paragraph 12 of this Instruction by subjects of entrepreneurial activity;

b) documents listed in paragraph 13 of this Instruction by resident legal entities that are not subjects of entrepreneurial activity, including budget fund recipients;

c) documents listed in paragraph 16 of this Instruction by non-resident legal entities carrying out activities in the Republic of Uzbekistan, participants in open electronic auctions of commodity-raw material exchanges, foreign investors selling (buying) shares in organizational auctions, as well as permanent establishments of non-residents carrying out activities in the Republic of Uzbekistan in the manner established by legislative acts (excluding physical persons); (The sub-paragraph "c" of paragraph 21 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

d) documents listed in paragraph 17 of this Instruction by resident and non-resident physical persons. (The sixth paragraph of paragraph 21 was issued based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019 No. 33/6 (registration number 1948-19, 10.02.2020) — National Database of Legislation of the Republic of Uzbekistan, 10.02.2020, 10/20/1948-19/0148-son) See previous edition. (Paragraph 22 lost its force based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son) See previous edition. (Paragraph 23 lost its force based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated October 17, 2009 No. 29/4 (registration number 1948-2, 03.11.2009) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2009, No. 45, Article 487)

IV. Procedure for opening accounts based on a credit agreement

24. A loan account for the customer is opened on the same day, without delay, based on an order to the accounting department issued by the bank manager or a person authorized by the manager, indicating the term, amount, and interest rate of the loan, which is provided no later than the next banking day after the credit agreement enters into force, except in cases where credit is processed through remote service systems. (Paragraph 24 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 28, 2019 No. 33/6 (registration number 1948-19, 10.02.2020) — National Database of Legislation of the Republic of Uzbekistan, 10.02.2020, 10/20/1948-19/0148-son)

V. Procedure for opening representative accounts

25. The following representative accounts are opened for banks:

a) representative accounts in national and foreign currencies at the Central Bank of the Republic of Uzbekistan;

b) representative accounts at resident banks; See previous edition. (The sub-paragraph "c" of paragraph 25 lost its force in accordance with the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated July 24, 2010 No. 25/3 (registration number 1948-4, 22.09.2010) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2010, No. 38, Article 337)

26. Resident commercial banks open representative accounts in national and foreign currencies at the Settlement Center of the Central Bank of the Republic of Uzbekistan.

27. Founders of a newly established bank open a temporary account 29801 — "Accounts with Customers" at the Central Bank of the Republic of Uzbekistan or another commercial bank to collect founding contributions until the bank is registered.

An authorized person submits an application for opening an account in the name of the founders to open a temporary account.

After a bank is registered with the Central Bank of the Republic of Uzbekistan and a license is issued to carry out banking operations, a representative account is opened in accordance with paragraphs 26 and 28 of this Instruction.

When opening a representative account, a contract on representative relations is concluded.

28. A commercial bank submits the following to open a representative account in national currency:

a) an application for opening an account; (The sub-paragraph "a" of paragraph 28 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son)

b) a copy of the certificate confirming the issuance of the taxpayer's identification number;

c) a copy of the license issued by the Central Bank of the Republic of Uzbekistan to carry out banking operations; See previous edition. (The sub-paragraph "g" of paragraph 28 was issued based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated September 5, 2015 No. 24/3 (registration number 1948-10, 15.09.2015) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2015, No. 37, Article 493)

d) a sheet with specimen signatures and seal impressions.

29. Representative accounts in foreign currency for resident banks are opened in other resident commercial banks that have a license granting the right to carry out banking activities. (Paragraph 29 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated September 23, 2017 No. 26/13 (registration number 1948-13, 10.10.2017) — National Database of Legislation of the Republic of Uzbekistan, 2017) See previous edition. (Paragraph 30 lost its force in accordance with the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated July 24, 2010 No. 25/3 (registration number 1948-4, 22.09.2010) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2010, No. 38, Article 337)

30. The following are submitted by non-resident banks to open representative accounts at the Central Bank of the Republic of Uzbekistan and at commercial banks of the Republic of Uzbekistan: (The first paragraph of paragraph 31 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated September 23, 2017 No. 26/13 (registration number 1948-13, 10.10.2017) — National Database of Legislation of the Republic of Uzbekistan, 2017)

a) an application for opening an account indicating the full name of the non-resident bank and its legal address in the state where it is registered; (The sub-paragraph "a" of paragraph 31 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son)

b) a sheet with specimen signatures and seal impressions, as well as a legalized copy of the license issued by the Central (National) Bank of that state; (The sub-paragraph "b" of paragraph 31 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated May 26, 2016 No. 15/3 (registration number 1948-11, 13.06.2016) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2016, No. 24, Article 294)

c) information on the application of international standards in the field of combating the legalization of proceeds from criminal activity, financing of terrorism, and financing of the proliferation of weapons of mass destruction by the non-resident bank and the state where it is registered. (The sub-paragraph "c" of paragraph 31 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated February 16, 2019 No. 3/4 (registration number 1948-17, 20.02.2019) — National Database of Legislation of the Republic of Uzbekistan, 20.02.2019, 10/19/1948-17/2655-son)

VI. Sheets with specimen signatures and seal impressions

32. Sheets with specimen signatures and seal impressions are submitted in two copies. One copy of the sheet is kept by the accountant, and the second is kept by the controller processing cash checks. If banks serve multiple accounts for customers, sheets with specimen signatures and seal impressions may additionally be required from them. The numbers of the accounts are indicated on the sheets with specimen signatures and seal impressions. (Paragraph 32 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2014 No. 47/10 (registration number 1948-9, 09.02.2015) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2015, No. 6, Article 73)

33. The head of the accounting subject approves two lists of persons authorized to sign. The first list includes persons performing managerial functions in the accounting subject, and the second includes persons performing accounting and financial management functions. If the head of the accounting subject has assumed the functions of accounting and financial management, he indicates himself in both lists. See previous edition. (The second paragraph of paragraph 33 was issued based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated August 10, 2019 No. 18/4 (registration number 1948-18, 23.08.2019) — National Database of Legislation of the Republic of Uzbekistan, 23.08.2019, 10/19/1948-18/3620-son)

To check the numbers of checks submitted for payment, the bank records the numbers of cash checks issued to customers in the sheet with specimen signatures and seal impressions submitted to the bank. (Paragraph 33 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated May 26, 2016 No. 15/3 (registration number 1948-11, 13.06.2016) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2016, No. 24, Article 294)

34. Customers must sign with their own hands directly (the use of facsimile signature stamps is not permitted).

The right of the first signature cannot be granted to the chief accountant or other persons having the right of the second signature, except in cases where the head of the accounting subject has assumed the functions of accounting and financial management. (The second paragraph of paragraph 34 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated May 26, 2016 No. 15/3 — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2016, No. 24, Article 294)

35. When temporary first or second signature rights are granted to managerial personnel, or when one of the persons authorized by the head temporarily changes, an additional sheet with the specimen signature of the temporarily authorized person and the validity period is submitted. This temporary sheet is signed and sealed by the head (sealing is not required from subjects of entrepreneurial activity). (Paragraph 35 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018 No. 30/8 (registration number 1948-16, 25.10.2018) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2018, 10/18/1948-16/2099-son)

36. The main seal issued to legal entities or the seal impression of a branch or representative office of a legal entity must be placed on the sheet with specimen signatures and seal impressions. The use of seals for special purposes, for example, "For Packages", "For Permits", "Office", "For Information", "For Certificates", and the like, is not permitted. (The first paragraph of paragraph 36 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated March 4, 2017 No. 4/5 (registration number 1948-12, 24.03.2017) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2017, No. 12, Article 192)

When a seal is replaced or lost, the head of the bank branch grants the necessary period for the preparation of a new seal based on an application signed by the persons granted the right of the first and second signatures (if the customer is an individual entrepreneur or a peasant farm — by the individual entrepreneur or the head of the peasant farm). This period may not exceed one calendar month. At the same time, it establishes the procedure for processing payment documents in the absence of a seal, allowing documents to be submitted without a seal impression depending on the situation. In such cases, the bank manager or chief accountant enters the relevant notes into the sheet with specimen signatures and seal impressions.

The requirements of this paragraph do not apply to subjects of entrepreneurial activity. (The third paragraph of paragraph 36 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated September 22, 2018 No. 30/8 (registration number 1948-16, 25.10.2018) — National Database of Legislation of the Republic of Uzbekistan, 25.10.2018, 10/18/1948-16/2099-son)

37. The legal address of legal entities and peasant farms and individual entrepreneurs operating without forming a legal entity is considered to be the address indicated in their certificate of state registration.

The address of a physical person is considered to be the registered address recorded in their identity document or an equivalent document.

The owner of the account must notify the bank servicing their account in writing within five working days of any change in their address.

38. When the seal of a legal entity changes, or when one of the signatures indicated on the sheet is replaced or added, the owner of the account submits a new sheet with specimen signatures and seal impressions. Cancelled sheets with specimen signatures and seal impressions are attached to the legal file of the legal entity. (Paragraph 38 in the edition of the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2014 No. 47/10 (registration number 1948-9, 09.02.2015) — O'zbekiston Respublikasi Qonun Hujjatlari To'plami, 2015, No. 6, Article 73)

VII. Procedure for processing changes in the customer's legal file

39. Accounts are opened for legal entities newly established as a result of reorganization based on the submission of the relevant documents specified in this Instruction.

Resident legal entities that are not subjects of entrepreneurial activity and budget fund recipients, branches and representative offices of resident legal entities, non-resident legal entities carrying out activities in the Republic of Uzbekistan, participants in open electronic auctions of commodity-raw material exchanges, foreign investors selling (buying) shares in organizational auctions, as well as permanent establishments of non-residents carrying out activities in the Republic of Uzbekistan in the manner established by legislative acts, submit a copy of amendments and additions to their constituent documents (founding agreement, charter) to the bank if the information specified in the constituent documents (founders, members, or other information) changes. (The second paragraph of paragraph 39 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan dated July 28, 2021 No. 16-mh (registration number 3313, 28.07.2021) — , 28.07.2021, 10/21/3313/0724-son)

40. When sanation is declared for a legal entity, relations arising regarding its accounts are regulated on the basis of the "Regulation on the Procedure for Operation of the Special Sanation Account of a Sanating Enterprise" (registration number 1636, November 3, 2006).

41. When a legal entity is terminated, all its bank accounts are transferred to the disposal of the liquidation commission. In such cases, a copy of the decision on the termination of the legal entity, indicating the term of activity of the liquidation commission, as well as a sheet with the specimen signatures and seal impression of the head of the liquidation commission and the chief accountant, are submitted to the bank servicing the main account (the signature of the chief accountant is not required when a non-profit organization that is not a legal entity is terminated). After that, a single account status for its termination is assigned to the main account of the legal entity. (Paragraph 41 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 15/3 dated May 26, 2016 (registration number 1948-11, 13.06.2016) — Collection of Legislative Acts of the Republic of Uzbekistan, 2016, No. 24, Art. 294)

VIII. Transfer of the Client's Main Account to Another Bank See previous edition. (Paragraph 42 lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 12/3 dated April 19, 2014 (registration number 1948-8, 30.04.2014) — Collection of Legislative Acts of the Republic of Uzbekistan, 2014, No. 18, Art. 205)

43. To transfer the main account to another bank, the client submits an application to the servicing bank and returns checkbooks. After that, the bank confirms in writing the balance in the client's account.

The client submits the certificate obtained from the bank where the main account is being closed, together with the application, to the bank where the main account is being opened. Based on this application, the bank where the main account is being opened opens a temporary account No. 29801 — "Settlements with Clients" and notifies the client and the bank where the account is being closed in writing.

44. After receiving the notification about the opening of the temporary account, the client submits a payment order to the bank where the main account is being closed to transfer the balance of funds in the main account to the temporarily opened account in the bank where the main account is being opened. The bank closing the main account enters the documents in the client's legal file and the list of payment documents in the No. 2 card file (if available) into the protocol, confirming that these documents have been submitted to the bank where the main account is being opened. The protocol is signed by authorized bank employees and stamped with the bank seal. (First paragraph of Paragraph 44 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 3/4 dated February 16, 2019 (registration number 1948-17, 20.02.2019) — National Database of Legislative Acts, 20.02.2019, No. 10/19/1948-17/2655)

Original copies of the documents in the client's legal file and payment documents in the No. 2 card file are attached to both copies of the protocol and delivered to the bank where the main account is being opened by mail, Feldjäger communication, or courier.

After the bank where the main account is being opened accepts the documents attached to this protocol, it signs the protocol with the signatures of authorized bank employees and the bank seal to confirm the receipt of the original copies of the documents in the legal file and payment documents in the No. 2 card file attached to the protocol. One copy of the protocol is delivered by mail, Feldjäger communication, or courier to the bank where the main account is being closed. (Third paragraph of Paragraph 44 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 3/4 dated February 16, 2019 (registration number 1948-17, 20.02.2019) — National Database of Legislative Acts, 20.02.2019, No. 10/19/1948-17/2655)

It is strictly prohibited to send these documents through the account owner or third parties.

45. After receiving the copy of the protocol signed and stamped by the authorized employees of the bank where the main account is being opened, the client executes the payment order to transfer the funds in the main account being closed to the temporary account opened in the bank where this account is being opened. (Paragraph 45 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 3/4 dated February 16, 2019 (registration number 1948-17, 20.02.2019) — National Database of Legislative Acts, 20.02.2019, No. 10/19/1948-17/2655)

The bank closing the main account makes copies of all submitted documents and stores them in its archive in the prescribed manner.

After the bank where the main account is being opened receives the documents and funds from the bank closing the account, it opens a new main account for the client, transfers the balance from the temporary account to it, and closes this temporary account.

Information about the transferred main account is stored in the information database for the period established by legislative acts. After this period expires, information about the transferred main account is archived and stored in the prescribed manner. (Fourth paragraph of Paragraph 45 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan No. 16-mh dated July 28, 2021 (registration number 3313, 28.07.2021) — , 28.07.2021, No. 10/21/3313/0724)

After the payment settlement documents received for the transferred main account are registered, a notice is returned to the sender with the following content: "The account is closed. Contact the branch of __________ bank."

IX. Suspension of Operations on the Main Account and Closure of the Account

46. Operations on the main account may be suspended only by order of the account owner, by decision of an official of the body conducting pre-trial investigation, investigator, or investigator, or by court ruling, as well as in other cases provided for by legislative acts. In such cases, funds are frozen only in the amount indicated in the decision or ruling. (First paragraph of Paragraph 46 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan No. 16-mh dated July 28, 2021 (registration number 3313, 28.07.2021) — , 28.07.2021, No. 10/21/3313/0724) See previous edition.

Suspension of operations on accounts in banks by subjects of entrepreneurial activity is carried out in court order, except in cases provided for by law. (Second paragraph of Paragraph 46 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 38/10 dated December 26, 2009 (registration number 1948-3, 28.01.2010) — Collection of Legislative Acts of the Republic of Uzbekistan, 2010, No. 3-4, Art. 35)

Operations on accounts in banks are suspended only on the expenditure side. (Paragraph 46 supplemented with the third paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 47/10 dated December 30, 2014 (registration number 1948-9, 09.02.2015) — Collection of Legislative Acts of the Republic of Uzbekistan, 2015, No. 6, Art. 73)

It is not allowed to transfer accounts frozen or suspended in the above manner (both main and secondary) to other banks, nor to open other accounts for the owners of these accounts.

47. A bank account agreement may be terminated upon the application of the account owner or at the request of the bank.

A bank account agreement may be terminated by the court at the request of the bank in the following cases:

1. if the amount of funds stored in the client's account is less than the minimum amount provided for in the bank's rules or the agreement, and if such amount is not restored within one month from the day the client was notified by the bank;

2. if no operations have been carried out on this account for one year, unless another term is provided for in the bank account agreement.

The balance of funds in the account is returned to the client or transferred to another account according to his instruction within seven days after receiving the client's corresponding written application.

Termination of the bank account agreement serves as the basis for closing the client's account.

The bank account agreement is terminated from the day the subject of entrepreneurial activity is removed from the state register of subjects of entrepreneurial activity transferred to a state of inactivity by the registering authority. (Paragraph 47 supplemented with a paragraph based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 33/6 dated December 28, 2019 (registration number 1948-19, 10.02.2020) — National Database of Legislative Acts, 10.02.2020, No. 10/20/1948-19/0148)

48. Closure of bank accounts of subjects of entrepreneurial activity — legal entities being voluntarily terminated is carried out in accordance with the Regulation on the Procedure for Voluntary Termination of Subjects of Entrepreneurial Activity and Suspension of Their Activities, approved by Resolution No. 704 of the Cabinet of Ministers of the Republic of Uzbekistan dated August 21, 2019.

Closure of bank accounts of subjects of entrepreneurial activity not carrying out financial and economic activity is carried out in accordance with the Regulation on the Procedure for Removing Subjects of Entrepreneurial Activity Not Carrying Out Financial and Economic Activity from the State Register, approved by Resolution No. 704 of the Cabinet of Ministers of the Republic of Uzbekistan dated August 21, 2019. (Paragraph 48 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 33/6 dated December 28, 2019 (registration number 1948-19, 10.02.2020) — National Database of Legislative Acts, 10.02.2020, No. 10/20/1948-19/0148)

(Paragraph 49 lost its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 33/6 dated December 28, 2019 (registration number 1948-19, 10.02.2020) — National Database of Legislative Acts, 10.02.2020, No. 10/20/1948-19/0148)

50. When the main account of a business entity is being closed, all related accounts are closed in advance. At the same time, the tax and customs (if the account is opened in foreign currency) authorities are notified about the planned closure of the account, and information is requested regarding the subject's budget debts. After the tax and customs authorities submit a conclusion to the bank regarding the absence of the business entity's obligations to the budget, the bank (bank branch) returns the unused or partially used checkbooks issued by the bank (bank branch). After that, based on the client's application indicating the numbers of unused checks, the account is closed with the balance confirmed on the day of closure. (Paragraph 50 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 12/3 dated April 19, 2014 (registration number 1948-8, 30.04.2014) — Collection of Legislative Acts of the Republic of Uzbekistan, 2014, No. 18, Art. 205)

51. Unused checks for accounts being closed or transferred to other banks may be accepted from clients only by the chief accountant or his deputy. The chief accountant and his deputy must immediately cancel each submitted check by cutting off the part where the signature is placed. Only after that are the checks given to the responsible executor who serves him. The executor must enter the payment order submitted for closing the account through the software and submit it for verification and signature to the chief accountant or his deputy.

52. When accounts are being closed, the bank's chief accountant or his deputy must carefully check all entries made in this account from the day the last statement was issued to the client from the account being closed, ensure the correctness of the final balance issued taking into account the interest calculated and paid for loans and banking services, and enter and sign the entries related to the account being closed. (First paragraph of Paragraph 52 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 22/3 dated July 23, 2011 (registration number 1948-5, 16.08.2011) — Collection of Legislative Acts of the Republic of Uzbekistan, 2011, No. 32-33, Art. 342)

After the account is closed, the bank submits a statement to the client (in case of client termination — to the founders) regarding the balance of funds free from submitted claims.

53. All other deposit accounts are closed at any time upon the client's application. In this case, special accounts opened for this client are closed in the manner established by legislative acts. (First paragraph of Paragraph 53 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan No. 16-mh dated July 28, 2021 (registration number 3313, 28.07.2021) — , 28.07.2021, No. 10/21/3313/0724)

Loan accounts are closed after full payment of loans granted and interest calculated on them based on the order of the bank head or a person authorized by the head, or in cases where the credit balance of the loan account is not provided for, after transfer to the account.

54. When a client is terminated compulsorily, the client's main account is оформлен (registered) in the name of the liquidation commission and transferred to its disposal. A decision on the termination of the client, as well as a sheet with the specimen signatures and seal impression of the head and chief accountant approved by the organization or person forming the liquidation commission, indicating the liquidation term, are submitted to the bank servicing the main account. Copies of the decision on termination, indicating the liquidation term, are submitted to other banks servicing the client's accounts. After that, all secondary accounts are closed, and funds in these accounts are compulsorily transferred to the main account оформлен in the name of the liquidation commission. (Paragraph 54 in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 15/3 dated May 26, 2016 (registration number 1948-11, 13.06.2016) — Collection of Legislative Acts of the Republic of Uzbekistan, 2016, No. 24, Art. 294)

55. After completing its work, the liquidation commission submits the following documents to the bank to close its account:

a) conclusion of the state tax service bodies regarding the fulfillment of their obligations to the budget by business entities; See previous edition.

b) protocol officially drawn up by a special commission regarding the completion of liquidation work; (Paragraph 55, sub-paragraph "b" in the edition of the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 16/1 dated May 23, 2009 (registration number 1948-1, 20.06.2009) — Collection of Legislative Acts of the Republic of Uzbekistan, 2009, No. 26, Art. 300)

c) unused checks and checkbooks with stubs of used checks.

56. If there is a credit balance of funds free from submitted claims in the account of the liquidation commission, this balance is transferred to another account based on the decision of the founders of the clients or the meeting of the founders of the liquidation commission and the terminated client.

57. No fee is charged for closing the account.

58. Representative accounts of commercial banks are closed based on the legislative acts of the Republic of Uzbekistan on the termination of banks. (Paragraph 58 in the edition of the Order of the Minister of Justice of the Republic of Uzbekistan No. 16-mh dated July 28, 2021 (registration number 3313, 28.07.2021) — , 28.07.2021, No. 10/21/3313/0724)

Appendix 1 to the Guidelines on Opening Bank Accounts in Banks of the Republic of Uzbekistan

Register of Accounts Opened for Clients

No.

Client Name

Taxpayer Identification Number

Date Account Opened

Account Number

Date Account Closed

Reason for Account Closure