Rules for Conducting Cash Operations with Foreign Currency in the Territory of the Republic of Uzbekistan

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on January 22, 1999, registration number 611

Date of Entry into Force

January 22, 1999

All August 26, 2019 April 8, 2019 January 17, 2018 April 28, 2006 June 5, 2004 September 4, 2000 January 22, 1999 View Russian Uzbek O’zb Uzbek|Russian Document lost its force August 26, 2019

[OKON: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.03.00 Settlements and Cash Operations (also see 03.11.17.00, 07.21.04.00); 2. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.13.00 Currency Operations (also see 07.27.00.00); 3. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Currency Regulation and Currency Control / 07.27.03.00 Currency Operations (Transactions) / 07.27.03.02 Currency Operations Related to Capital Movement] [TSZ: 1. Finance / Currency Regulation. Precious Metals (Stones)]

Approved by the Board of the Central Bank of the Republic of Uzbekistan by No. 35 dated March 28, 1998 (Protocol No. 4) Agreed with the Ministry of Finance of the Republic of Uzbekistan January 11, 1999 EG/13-01-44-no

RULES FOR CONDUCTING CASH OPERATIONS WITH FOREIGN CURRENCY IN THE TERRITORY OF THE REPUBLIC OF UZBEKISTON

[Registered by the Ministry of Justice of the Republic of Uzbekistan on January 22, 1999, registration number 611]

These Rules were removed from the state register based on Order No. 366-mh of the Minister of Justice of the Republic of Uzbekistan dated August 26, 2019 "On Removing Departmental Normative Legal Documents from the State Register" (registration number 611-6, dated August 26, 2019).

These Rules are developed in accordance with the laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Currency Regulation," and establish the procedure for accepting, accounting for, storing cash foreign currency, and ensuring compliance with cash discipline by legal entities of the Republic of Uzbekistan.

I. GENERAL PROVISIONS

1. Legal entities (hereinafter referred to as enterprises) must store cash foreign currency in currency account numbers at the settlement-cash centers of the territorial main directorates of the Central Bank or at commercial banks of the Republic of Uzbekistan (hereinafter referred to as banks).

2. Incoming cash foreign currency must be submitted to banks by enterprises for storage and transfer to a currency account number in cases established by legislation.

3. Cash foreign currency obtained from banks must be spent strictly in accordance with its intended purpose.

II. PROCEDURE FOR ACCEPTING AND ISSUING FOREIGN CURRENCY AND DOCUMENTING CASH DOCUMENTS

4. When accepting foreign currency, the cashiers of enterprises must determine the usability of the foreign currency for payment using technical means. The usability of foreign currency is additionally checked according to reference books recommended by the Central Bank. The acceptance of foreign currency into the cash desks of enterprises is carried out through receipt cash orders in accordance with Form 1 attached to these Rules. When accepting cash foreign currency, a receipt (a copy of the receipt cash order) signed by the person handing it over, the chief accountant or the person performing their duties, and the cashier is issued to them. (The third paragraph of Clause 4 was edited by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/5 dated March 16, 2019 (registration number 611-5, April 8, 2019) — National Database of Legislation of the Republic of Uzbekistan, April 8, 2019, No. 10/19/611-5/2898)

5. The issuance of foreign currency from the cash desks of enterprises is carried out through expenditure cash orders issued based on documents confirming the identity of the recipient, in accordance with Form 2 attached to these Rules. Documents regarding the issuance of foreign currency must be signed by the head of the enterprise and the chief accountant of the enterprise or persons performing their duties.

6. Foreign currency received into the enterprise's cash desk is fully recorded as an incoming operation. Funds obtained from the bank for business trip expenses and other purposes provided for by current legislation of the Republic of Uzbekistan and normative documents of the Central Bank must be used strictly for their intended purpose. Unused funds must be returned to the bank no later than three days. The methods for submitting cash foreign currency to the bank are determined by agreement between the bank and the enterprise.

7. Foreign currency is issued to a physical person against a receipt cash order when they present a document confirming their identity (passport or another document replacing it).

8. The cashier issues foreign currency only to the person specified in the expenditure cash order. If foreign currency is issued under a properly documented power of attorney, the text of the order indicates, after the surname, name, and patronymic of the person receiving the foreign currency, the surname, name, and patronymic of the person authorized by the accounting department to receive the foreign currency. The power of attorney remains with the cashier and is attached to the expenditure cash order. The issuance of foreign currency under a power of attorney is carried out in accordance with the requirements set forth in Clauses 5 and 7 of these Rules.

9. Receipt and expenditure cash orders, receipts attached to them, and other documents must be filled out correctly and accurately by the accounting department using purple ink or a purple (blue) ballpoint pen or technical means. Corrections, erasures, and the use of white-out are strictly prohibited on the aforementioned documents. It is indicated in the receipt and expenditure orders what served as the basis for their creation, and the attached documents are listed. It is prohibited to hand over receipt and expenditure cash orders to citizens handing over or receiving foreign currency. The acceptance and issuance of foreign currency based on cash orders must be carried out only on the day the documents are prepared.

10. When receiving receipt and expenditure cash orders, the cashier must check the authenticity and correct completion of the mandatory requisites indicated, including the following: — the presence of signatures of the enterprise head or persons authorized by them in the documents and the authenticity of these signatures; — the correct formalization of the documents; — the presence of the listed attachments in the documents. When accepting or issuing foreign currency in the manner specified in Clause 10, the cashier signs the receipt or expenditure cash orders, writes "paid" or applies a corresponding corner stamp on the attachments provided, indicating the date (day, month, year). (The fifth paragraph of Clause 11 was edited by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/5 dated March 16, 2019 (registration number 611-5, April 8, 2019) — National Database of Legislation of the Republic of Uzbekistan, April 8, 2019, No. 10/19/611-5/2898)

11. Before submitting receipt and expenditure cash orders to the cash desk, the accounting department records them in the register of receipt and expenditure cash documents. In this case, both the sum in sums and the nominal value in foreign currency must be indicated. It is permitted to maintain the register in electronic form on computers equipped with appropriate software, with a paper copy reproduced.

III. MAINTENANCE OF THE CASH JOURNAL AND STORAGE OF CASH FOREIGN CURRENCY

13. Received and issued cash foreign currency must be accounted for in a cash journal that can be maintained in electronic form on computers equipped with appropriate software, with a paper copy reproduced.

14. For reflecting operations in cash foreign currency, the enterprise maintains a separate cash journal for operations in foreign currency. The enterprise must maintain only one cash journal for operations in foreign currency.

15. Pages of the cash journal kept for operations in foreign currency must be numbered, bound, and sealed with wax or mastix such that unauthorized insertion or removal of pages is impossible. The number of pages in the cash journal is confirmed by the signatures of the enterprise head and chief accountant.

16. Entries in the cash journal for currency operations are made in two copies using black paper (carbon copy paper) with purple (blue) ink or a ballpoint pen. The second copies of the pages must be tear-off; they serve as the cashier's report. The first copies remain in the cash journal. The first and second copies of the pages are assigned the same numbers. It is prohibited to erase or make unexplained corrections in the cash journal. Corrections made are confirmed by the signatures of the enterprise cashier, as well as the chief accountant or the person performing their duties.

17. At the beginning of the day, the cashier indicates the balance of foreign currency in the cash journal (by type, name, and amount of foreign currency). During the day, the cashier records every operation performed in foreign currency in the cash journal (by type, name, and amount of foreign currency).

18. The cashier immediately records in the cash journal after receiving or issuing foreign currency for each order. At the end of each working day, the cashier summarizes the operations performed during the day, calculates the end-of-day cash balance, and submits the second tear-off page (a copy of the entries in the daily cash journal) along with receipt and expenditure cash documents to the accounting department as a cashier's report, having them sign the cash journal.

19. Control over the correct execution of cash operations is entrusted to the chief accountant of the enterprise (or the person performing their duties).

20. Undocumented items and other documents not passed through accounting cannot serve as proof of the actual cash balance available in the cash desk. Such amounts are considered shortages and are recovered from the cashier. Cash funds documented by receipt cash orders are considered excess funds in the cash desk and are transferred to budget revenue.

21. The cashier (hereinafter referred to as the cashier) bears full material liability in accordance with the legislation in force in the territory of the Republic of Uzbekistan for any damage caused to the organization due to intentional actions, or due to insincere and careless attitude towards their obligations, for all valuables accepted for storage.

22. After the order appointing the cashier is issued, the enterprise head (chief accountant) must familiarize them with the Rules for Conducting Cash Operations in Foreign Currency in the Territory of the Republic of Uzbekistan and obtain their signature, after which a contract for individual full material liability is concluded with the cashier.

23. It is prohibited for the cashier to delegate their assigned duties to others or assign certain tasks to other persons.

24. In enterprises where there is one cashier according to the staffing table, if the need arises to temporarily replace the cashier or attach an assistant to them, the performance of cashier duties may be entrusted to another employee based on a written order of the enterprise head, after the conclusion of the relevant contract for individual full material liability. In such cases, all rights and obligations established for cashiers in these Rules apply to such persons. In cases where the cashier suddenly becomes unable to perform their work (due to illness and other reasons), the foreign currency and other valuables in their custody are immediately re-counted by another cashier accepting these valuables, with the participation of the enterprise head and chief accountant or a commission composed of persons appointed by the enterprise head. An act is drawn up regarding the results of the re-counting and the handover of valuables to the other cashier, which is signed by the persons mentioned above. If it is impossible to re-count the foreign currency and other valuables in this situation (if there is no second cashier, etc.), the cash desk containing the foreign currency and other valuables belonging to the enterprise is closed and sealed without re-counting. The person appointed by the enterprise head from among accounting staff re-counts the foreign currency and valuables no later than the next working day, with the participation of the chief accountant and enterprise head or a commission of at least three people appointed by the enterprise head. The results of the re-counting of foreign currency and other assets are reflected in an act signed by the head and chief accountant or members of the commission in all cases.

25. Accountants and other employees of the enterprise authorized to sign cash documents cannot perform cashier duties.

26. Each enterprise must have a cash desk located in a separate room for conducting operations in cash foreign currency. A cash desk for som operations and a cash desk for operations in cash foreign currency may be located in the same room, but in this case, there must be separate iron safes (strongboxes) or safes for storing foreign currency separately from som funds.

27. A specially equipped and allocated room designated for accepting, issuing, and temporarily storing cash foreign currency and other assets is considered a cash desk. Enterprise heads must ensure the equipment of the cash desk and the integrity of cash foreign currency and other valuables during storage and transportation; in cases where necessary conditions are not created to ensure the integrity of funds during storage and transportation due to their fault, these persons are liable in the manner prescribed by legislation.

28. The cash desk must be equipped with: a) catalogs (reference books) of distinguishing marks to determine the authenticity and usability of foreign currencies; b) technical devices for checking the authenticity of denominations of cash foreign currency.

29. The cash desk room must be completely isolated separately, and the cash desk door must be locked from the inside during operations. It is prohibited for employees unrelated to the cash desk work to enter it.

30. All foreign currency (payment documents) and other valuables must be stored in fireproof iron safes or safes, which must be locked and sealed (plombated) at the end of cash desk work, and the alarm signaling system must be turned on. Keys and seals of iron safes are kept by cashiers; it is forbidden to leave them in agreed places, give them to strangers, or prepare unaccounted copies. It is strictly prohibited to leave doors of rooms where iron safes are standing open, and to leave keys in the doors of these safes. Accounted copies of keys are placed by the cashier in paper bags or boxes, sealed, and stored by the enterprise head. They are checked by a commission at least once per quarter. In cases where the loss of keys is detected, the enterprise head takes measures in accordance with current legislation. It is prohibited to store cash foreign currency and other assets not belonging to the enterprise in the cash desk.

31. Before opening the cash desk room and iron safes, the cashier must check the integrity of locks, doors, window grilles, and seals, and ensure that the alarm signaling system is operational. If seals are broken or removed, or if locks, doors, or grilles are damaged, the cashier must immediately inform the enterprise head so that measures are taken in accordance with current legislation. In this case, the enterprise head, chief accountant, or persons performing their duties, along with the enterprise cashier, check the existence of cash foreign currency and other valuables stored in the cash desk. This check must be conducted before cash operations begin. An act in four copies is drawn up regarding the results of the check, which is signed by all persons participating in the check. The first copy of the act is sent to the insurance company (if the cash desk is insured), the second to the superior organization (if such an organization exists), and the third and fourth copies remain with the enterprise.

IV. CONDUCTING CASH INSPECTIONS AND CONTROLLING COMPLIANCE WITH CASH DISCIPLINE

33. Responsibility for compliance with currency-cash discipline is placed on the heads of enterprises, chief accountants, and cashiers.

34. Surprise inspections are conducted in each enterprise cash desk at intervals set by the enterprise head, but at least once per quarter. During the inspection, all cash currency in the cash desk is re-counted sequentially, and other stored valuables are examined. A commission is appointed by order of the enterprise head to inspect the cash desk, and this commission draws up an inspection act. If a shortage or excess of valuables in the cash desk is detected during the inspection, their amount and the reason for this are indicated in the act. In conditions where the cash journal is maintained electronically, the correct functioning of software tools for processing cash documents on computers is checked.

35. Superior organizations must compulsorily inspect the cash desk and check compliance with cash discipline while auditing documents in each subordinate enterprise. Special attention should be paid to how the storage of money and valuables is ensured during the inspection. Such inspections in joint-stock, collective, and other enterprises (if provided for in their charters) are conducted by audit commissions.

36. Persons guilty of systematic violation of cash discipline are held liable in the manner prescribed by current legislation.

Deputy Chairman of the Central Bank S. RAHIMOV

Appendix No. 1 to the Rules (Appendix No. 1 was edited by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 5/5 dated March 16, 2019 (registration number 611-5, April 8, 2019) — National Database of Legislation of the Republic of Uzbekistan, April 8, 2019, No. 10/19/611-5/2898)

Appendix No. 2 to the Rules

---

(name of the enterprise)

"SAMPLE"

Code according to OKUD________ EXPENDITURE CASH ORDER No.

Day Month

...... to be issued to

(surname, name, patronymic)

---

__________________________________________________________________foreign currency in () (name, sum according to nominal value in words and numbers)

Basis: ___________________________________________________________________________________________

---

Exchange rate of the Central Bank of the Republic of Uzbekistan on the day the operation was performed ___________________________________________________________ Equivalent in national currency ______________________________________________________________________ ______________________________________________________________________________ sums ______________ tiyns

(Sum according to the exchange rate of the Central Bank of the Republic of Uzbekistan in words and numbers)

Attachment ___________________________________________________________________________________________

---

Head _____________

Chief Accountant __________________

...... foreign currency accepted Equivalent in national currency ______________________________________________________________________ ______________________________________________________________________________ sums _________ tiyns.

(Sum in words and numbers)

"" ___________________ 200 year.

Signature _______________

---

---

__________________________________________________________________________________________according to

(name of document confirming identity of recipient, number, place and time of issue)

Issued by cashier __________________________________________________________________________.