THE DECISION
THE CABINET OF REPUBLIC UZBEKISTAN
On November, 27, 2002 # 413
About measures on the further development of the market of insurance services
According to the Law of Republic Uzbekistan «About insurance Activity» and the Decree of the President of Republic Uzbekistan from January, 31, 2002 N ÓÏ-3022 « About measures on the further liberalization and development The insurance market » and with a view of stimulation of development of insurance system, Strengthening of material base and financial stability Insurers, expansions of their regional representation and increase.
Trust of the population to the insurance organizations the Cabinet Decides:
1. To establish, that the minimal size of the authorized capital It is defined for the insurers specializing in:
- Branches of life insurance - in the sum equivalent to 250 thousand US dollars;
- Branches of the general insurance - in the sum equivalent to 150 thousand.US dollars;
- Reinsurance activity (if a subject of activity Reinsurance) - in the sum is exclusively, equivalent 2 million US dollars.
For the insurers who are carrying out activity on obligatory To insurance, the minimal size of the authorized capital is defined in the sum, In equivalent 500 thousand US dollars.
2. To define, that:
- The insurers working in territory of Republic Uzbekistan and having chapter fund less established by the present decision the size, should finish it with the established sizes by August, 1, 2003;
- Insurers, which size of authorized capitals by August, 1, 2003 will not correspond to the established minimal requirements, not have the right to be engaged in insurance activity;
- From the moment of an output of the present decision creation is forbidden Insurers with the size of the authorized capital there are less than minimal requirements, established by the present decision.
3. To define the Ministry of Finance of Republic Uzbekistan Specially the authorized state body which is carrying out Regulation and supervision of insurance activity.
4. To ratify Regulations about licensing of insurance activity Insurers and insurance brokers according to appendix # 1.
5. To define the specification of annual charges for legal persons on To voluntary kinds of insurance at a rate of two percent from annual Volume of proceeds from realization of production (works, services).
To the Ministry of Finance and the State tax committee of Republic of Uzbekistan to bring in respective alterations in departmental Statutory acts.
6. To recognize become invalid some decision of the Government of Republic of Uzbekistan according to appendix # 2.
To make changes and additions to some decisions of the Government of Republic of Uzbekistan according to appendix # 3.
7. The control over performance of the present decision to assign on
The assistant to the Prime minister of Republic of Uzbekistan Azimov R.S.
Cabinet`s Chairman
I.Karimov
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APPENDIX # 1
To the decision of the Cabinet
of Republic of Uzbekistan
From November, 27, 2002 # 413
POSITION
About licensing insurance activity
Insurers and insurance brokers
I. General provisions
1.
The present Position is developed according to laws of Republic of Uzbekistan
«About licensing separate kinds of activity», «About insurance activity» also
defines the order of licensing Insurance activity of insurers and insurance brokers. 2.
Licensing insurance activity of insurers and Insurance brokers it is carried out
by the Ministry of Finance of Republic Uzbekistan (further - licensing body). 3.
Competitors of the license for insurance activity of insurers And insurance brokers
can be registered in established The order legal persons. 4.
Validity of the license for realization insurance Activity of the insurer and
the insurance broker, as a rule, not It is limited. The license is given out for
the term of, specified in the application The competitor of the license. Action
of the license is estimated since day Licensing. On realization
of insurance activity of insurers and insurance Brokers typical (simple) licenses
are given out.
II.
License requirements and conditions
5. License requirements
and conditions at realization Insurance activity of insurers and insurance brokers
are: - Observance of the legislation of Republic Uzbekistan
about insurance Activity; - Maintenance of confidentiality
of the information received at Carrying out of insurance activity, according to
requirements Legislation; - Representation on demand of
licensing body established The legislation of the information on realization of
insurance activity; - The head of the competitor of the
license should have higher education And, at least, the two-year-old experience
of work in sphere of insurance; - The head of the competitor
of the license (licensee) has no right To combine posts of the head in other insurance
organizations. 6. In addition to license requirements and
conditions, Stipulated in item 5 of the present Position, are established: à)
For insurers: - Presence of the minimal size determined
by the legislation The authorized capital; á) For insurance
brokers: - Maintenance of observance of treaty obligations
at realization Insurance activity of the insurance broker; -
Maintenance of the conclusion and execution of the contract of insurance on Favorable
to the client of the licensee conditions; - Realization
of intermediary activity on insurance as The basic kind of activity. 7.
At overlapping by insurers of kinds (classes) of insurance The following rules
are applied: à) In the license of the insurer kinds (classes)
of insurance are specified, Which the licensee has the right to carry out. The
class of insurance represents Itself set of kinds of the insurance incorporated
on certain general To attributes. The maintenance of each class and the requirement
on conditions of carrying out Are resulted in appendix N 1 in the present Position; á)
The kind of insurance represents concrete insurance The service developed and
given by the insurer to the insurant in Limits of one or several classes of insurance; â)
The licensee has the right to develop the kind of insurance combining Attributes
and the maintenance of two and more classes of insurance, under condition of Presence
at him the license with the instruction of corresponding classes of insurance
And in view of restrictions on overlapping classes of insurance, established by
the present Position. 8. The licensee - insurer who is carrying
out insurance activity in Branches of life insurance, have no right to carry out
insurance activity In branch of the general insurance, except for activity on
classes 1 and 2 branches of the general insurance. The licensee
- insurer who is carrying out exclusively reinsurance activity, has no right to
conclude contracts direct Insurance.
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III. The documents necessary
for reception of the license 9. For reception of the
license the competitor represents in Licensing body the following documents: à)
For insurers: - The application for licensing with the instruction
of the name and The organizational - legal form of the legal person, place of
his presence (the post address), names of establishment of bank and number settlement
Accounts in establishment of the bank, a licensed kind of activity, which The
legal person is going to carry out, and term, during which The specified kind
of activity will be carried out; - Notarially certified
copy of the certificate about state Registration of the legal person; -
Data on the head (a copy of the document on higher education and Extract from
a work-record card); - The document confirming entering
by the competitor of the license of gathering for Consideration by licensing body
of the application of the competitor of the license; - The
documents confirming payment of the authorized capital (the information Bank,
acceptance reports of assignation, other documents) in the sum, not Less established
minimal size of the authorized capital; - The economic substantiation
of insurance activity including The business - plan on a licensed class of the
insurance, the containing forecast Developments of insurance operations, the plan
on assumed reinsurance To transactions, the plan of calculation of insurance reserves; -
Rules (condition) by kinds of insurance on which it is requested The license,
containing definition of a circle of subjects of insurance and Restrictions on
the conclusion of the contract of insurance, definition of objects Insurance,
definition of the list of insurance cases, at approach Which there is an obligation
of the insurer on insurance payments (the basic and additional conditions), withdrawals
(risks or property), on By which the insurer is released from performance of obligations,
tariffs (Rates) of insurance premiums, the maximal (minimal) term of insurance,
The order of the conclusion of contracts of insurance and payment of insurance
premiums, mutual obligations of the parties under the contract of insurance and
chances refusal in payment under contracts of insurance, the order of consideration
Claims under the contract of insurance. Samples of contracts
of insurance should be enclosed to rules. The rules (condition)
of insurance authorized by the head The competitor of the license, are represented
in duplicate, sheets should To be sewed and are numbered. Competitors
of the license which subject of activity is Reinsurance is extreme, represent
the documents specified in The present item, except for the paragraph concerning
to rules (conditions) Insurance. á) For insurance brokers: -
The application for licensing with the instruction of the name and The organizational
- legal form of the legal person, place of his presence (the post address), names
of establishment of bank and number settlement Accounts in establishment of bank;
a licensed kind of activity (his part), Which the legal person is going to carry
out, and term, during Which will be carried out the specified kind of activity; -
Notarially certified copy of the certificate about state Registration of the legal
person; - The document confirming entering by the competitor
of the license of gathering for Consideration by licensing body of the application
of the competitor of the license; - The documents confirming
payment of the authorized capital (the information Bank, acceptance reports of
assignation, other documents). - The specified documents
are represented in one copy. The requirement from the competitor
of the license of representation of documents, not Stipulated by the present Position,
it is not supposed. 10. Documents are delivered by the competitor
of the license in licensing Body directly, or through means of post communication,
with the notice About their reception. Documents are accepted
by licensing body under the inventory, a copy Which goes it (is entrusted) the
applicant with a mark about date of reception Documents. 11.
For representation of the doubtful or deformed data The competitor of the license
bears the responsibility according to The legislation.
IV. Consideration of the application and decision-making on licensing Or
about refusal in licensing 12. For consideration of
the application of the competitor of the license gathering is raised In the fivefold
size of the minimal wages established in To republic Uzbekistan. The
sum of gathering for consideration of the application is enlisted on special the
account of licensing body. In default the competitor of the license from the sent
application, the sum of the paid gathering is not subject to return. 13.
Licensing insurance activity of insurers and Insurance brokers it is carried out
according to the circuit it agrees To appendix N 2 to the present Position. The
decision on delivery or on refusal in licensing to the competitor Is accepted
in time, not exceeding thirty days from the date of reception Applications from
the competitor of the license with all necessary documents. 14.
For consideration of documents on licensing, their prolongation Term, preparations
of the conclusions on them in licensing body it is created Commission of experts.
Structure and position about a commission of experts Affirms licensing body. Sessions
of a commission of experts Are carried out not less often than an once in a month.
Carrying out is not supposed and Registration of decisions of sessions by the
polling order. The application of the competitor of the
license with all necessary documents in day of their reception submits for consideration
a commission of experts. Commission of experts in time,
not exceeding twenty days, Considers the submitted documents and prepares for
the expert judgement On them about delivery or about refusal in licensing. 15.
Licensing body in three-day term on the basis The conclusions of a commission
of experts makes a decision on delivery or about refusal in licensing. The
licensing body notifies the competitor of the license about accepted The decision
within three days after acceptance of the corresponding decision. The
notice on decision-making on licensing goes It (is entrusted) the competitor of
the license in writing with the instruction Essential elements of the bank account
and term of payment of a State Tax. Simultaneously with the notice on decision-making
on licensing To the competitor the license agreement goes for signing. 16.
The license agreement determining mutual rights and Duties of licensing body and
the licensee, should contain: - Surname, name, patronymic
and post of the persons who have signed the agreement; -
Essential elements of the parties; - The name of a kind
of activity, on which realization The license is given out; -
License requirements and the conditions showed to the licensee; -
Validity of the license; - The responsibility of the parties
for infringement of requirements and conditions the license agreement; -
The order of the control over licensing body behind performance The licensee of
requirements and conditions of the license agreement. The
license agreement is made in duplicate - on to one copy for the licensee and licensing
body. 17. Licenses for insurance activity of insurers and
insurance Brokers are made out on special forms of the established form. Forms
Licenses are documents of the strict reporting, have a registration series, Number
and degree of security. Samples of forms of licenses are developed and affirm
licensing body and are made under his order In the typographical way in «Davlat
belgisi» company. Licenses are made out by licensing body
in two-day term After representation by the competitor of the document confirming
payment State Tax, and signings of the license agreement by him. Licenses
subscribe Minister of Finance of Republic Uzbekistan (his assistant). The
original of the license is given out to the licensee, the copy of the license
is stored In licensing body when due hereunder. Transfer of the license or The
rights on it is forbidden to other persons. 18. In case
the licensee within three months from the moment of Directions (delivery) of the
notice on decision-making on licensing Has not presented to licensing body the
document confirming payment State Tax for licensing, or has not signed The license
agreement, licensing body has the right to make the decision about Cancellation
of the license. 19. In licensing can be refused on the bases,
Stipulated by Article 17 of the Law of Republic Uzbekistan « About Licensing of
separate kinds of activity ». The competitor of the license
has the right to appeal against the decision on refusal in To licensing, and also
action (inactivity) of the official Licensing body in the order established by
the legislation. 20. In case of decision-making on refusal
in licensing The notice on refusal goes (is entrusted) the competitor of the license
in To the written form with the instruction of the concrete reasons of refusal
and term, Sufficient that the competitor, having removed the specified reasons,
Could present documents for repeated consideration. 21.
In case of elimination by the competitor of the license of the reasons which have
served The basis for refusal in licensing, repeated consideration Documents it
is carried out in time, not exceeding ten days since day Receptions of the application
of the competitor with all necessary documents. Thus repeatedly
submitted documents are brought on Consideration of a commission of experts in
day of their reception. Commission of experts in time, not
exceeding six days, repeatedly Considers the submitted documents and prepares
for the expert judgement On them about delivery or about refusal in licensing. Licensing
body in three-day term on the basis of the conclusion Commission of experts makes
a decision on delivery or about refusal in delivery Licenses. For
repeated consideration of applications from competitors of the license gathering
It is not raised. The application sent after expiry of the
term, specified in the notice About refusal in licensing, it is considered again
sent.
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V. The register of licenses
22. The licensing body conducts the register of licenses. In
the register of licenses should be specified: - The name
of the legal person, his organizational - legal The form, the post address, phone; -
Date of delivery and number of licenses; - Validity of licenses; -
The bases and dates of renewal, prolongation of validity, Stay and renewal of
action of licenses; - The bases and dates of cancellation
of licenses; - The bases and dates of cancellation of licenses; -
The bases and dates of delivery of the duplicate. 23. The
information contained in the register of licenses, is Open for acquaintance with
it of legal and physical persons, which Have the right to receive for a payment
in licensing body the information from the register Licenses as extracts about
concrete licensees. Payment for delivery of the information
from the register of licenses in size Half of minimal wages it is enlisted on
the settlement account Licensing body. The information from
the register of licenses to bodies of the government and Management it is given
gratuitously. VI. The order of
payment of a State Tax 24. For licensing for realization
of insurance activity Insurers both insurance brokers and prolongation of term
of its action The State Tax in the tenfold size minimal is raised Wages. The
State Tax is enlisted in the republican budget.
VII. Renewal of the license, prolongation of term of its action, Delivery of
the duplicate 25. In case of transformation of the
licensee, his change Names or places of his presence (the post address), the licensee
or His assignee is obliged in week term after passage Re-registrations to submit
to licensing body the application for renewal Licenses with the appendix of the
corresponding documents confirming The specified data. 26.
Before renewal of the license the licensee has no right to carry out The activity
specified in it. 27. At renewal of the license the licensing
body brings Respective alterations in the register of licenses. Renewal of the
license It is carried out within five days from the date of reception licensing
Body of the application for renewal of the license with the appendix Corresponding
documents. At renewal of the license gathering in the half size is raised The
sum paid for consideration of the application of the competitor of the license
about To licensing. 28. Prolongation of validity of the
license is carried out on To the application of the licensee. The
application for prolongation of validity of the license should be sent In licensing
body not later than two months before expiry of the term Actions of the license. The
decision on prolongation or on refusal in prolongation of validity Licenses is
accepted in the order stipulated for licensing. 29. Instead
of the license lost or come in unsuitability, term Which actions has not expired,
under the application of the licensee can be given The duplicate. Thus the licensee
is obliged to declare invalidity The license lost or come in unsuitability in
means mass Information and also to present the publication to licensing body.
At delivery of duplicates of the license gathering in half is raised The size
of the sum paid for consideration of the application of the competitor about To
licensing.
VIII. The control over observance of
license requirements and conditions 30. The control
over observance by the licensee of license requirements And conditions it is carried
out by licensing body in the order established The legislation. 31.
At control of observance license Requirements and conditions licensing body, within
the limits of the competence, Has the right: - To carry
out in the order established by the legislation, scheduled Checks of observance
by the licensee of license requirements and conditions; -
To carry out in the order established by the legislation off-schedule Checks of
observance by the licensee of license requirements and conditions at Presence
of the facts testifying to their infringements by the licensee; -
To request and receive from the licensee the necessary information on To the questions
arising at carrying out of checks of observance license Requirements and conditions; -
To make on the basis of results of checks certificates (information) with The
instruction of concrete infringements by the licensee of license requirements
and Conditions; - To bear the decisions obliging the licensee
to remove revealed Infringements to establish terms of elimination of such infringements; -
To bear decisions on stay, cancellation, or Cancellation of the license; -
When due hereunder to direct to tax bodies materials About the revealed facts
of realization by managing subjects of activity Without the license for acceptance
of the measures stipulated by the legislation. 32. At check
of observance of license requirements and conditions Checking workers of licensing
body make the certificate in two Copies, one of which is transferred the licensee,
the second copy Remains in licensing body.
IX. Stay,
cancellation, cancellation of the license 33. Stay
and cancellation of the license, and also her Cancellation are carried out in
cases and the order, established by laws « About licensing separate kinds of activity
» and « About insurance Activity ». 34. To unitary rough
infringement of license requirements and The conditions, being the basis for cancellation
of the license, Concern: à) For insurers: Realization
of other kinds of the activity forbidden The legislation for the licensee; Disclosure
without the permission of the insurant confidential The information received at
carrying out of insurance activity, for Exception of the cases stipulated by the
legislation; á) For insurance brokers: The
conclusion and execution obviously unprofitable for the client Contracts of insurance; Disclosure
without the permission of the client of the confidential information, The intermediary
activity received at realization on insurance, Except for the cases stipulated
by the legislation. 35. The decision of licensing body on
stay or Cancellation of the license, and also its cancellation can be It is appealed
against in court. In case of a recognition court of groundlessness of the decision
The licensing body, the licensing body bears before the licensee The responsibility
at a rate of the damage suffered by him.
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APPENDIX # 1
To
Regulations about licensing insurance Activity
of insurers and Insurance brokers
THE
QUALIFIER OF INSURANCE ACTIVITY
1. Branch of
life insurance
Number
of a class | The name of a class | The
maintenance and requirements on conditions of carrying out | Class
I | Life and annuitets | Set
of kinds of the life insurance working more than one year, providing duties of
the insurer on payment of the insurance sums in cases: -
reaching the term of insurance insured before the termination or the insurance
of age determined by the contract; - death insured, and
also the current payments (annuitets) during action of the contract of insurance,
except for a class III | Class
II | Marriage and birth | Set
of kinds of the life insurance working more than one year, providing payment of
the insurance sum at the conclusion of a marriage or a birth of the child | Class
III | Long-term life insurance | Set
of kinds of life insurance in overlapping with payment of the life annuity | Class
IV | Insurance of health | Set
of kinds of the life insurance providing payments of the insurance sums at disability
as a result of proof damage, caused by accident or accident of the certain kind
or illness or disease provided that the period of the specified insurance is determined
for the term of not less than for five years, or up to achievement of a pension
age insured. Thus the period of the insurance specified in the contract, cannot
be cancelled or changed by the insurer unilaterally |
2.
Branch of the general insurance
Number
of a class | The name of a class | The
maintenance and requirements on conditions of carrying out | Class
I | Insurance upon accidents | Set
of kinds of the insurance providing payment of the fixed sum of money of insurance
maintenance or monetary indemnification to the insured person at: à)
Proof damage of health as a result of accident or a special case of the certain
kind, or; b) Death as a result of a special case or a special
case of the certain kind, or; c) To disability as a result
of disease or disease of the certain kind, including traumas on manufacture and
occupational diseases, but excepting contracts of insurance on a class 2 and to
a class IV | Class
II | Insurance on a case of illness | Set
of kinds of the insurance providing payment of the fixed sum of money of insurance
maintenance or monetary indemnification (or a combination of that and another)
charges of the insured person in connection with disease or frustration of health,
but excepting contracts on a class of IV branch of life insurance | Class
III | Insurance of ground vehicles | Set
of kinds of the insurance providing payment of insurance compensation to loss
or damage of vehicles, self-propelled machines and mechanisms, except for a railway
rolling stock | Class
IV | Insurance of a railway rolling stock | Set
of kinds of the insurance providing - payment of insurance compensation at loss
or damage of a railway rolling stock | Class
V | Aviation insurance | Set
of kinds of the insurance providing payment of insurance compensation At loss
or damage of an air vessel, the machine equipment, equipment, stock, spare parts
of an air vessel | Class
VI | Sea insurance | Set
of kinds of the insurance providing payment of insurance compensation at loss
or damage of the sea and internal river ships, the machine equipment of equipment,
stock, spare parts of a vessel | Class
VII | Insurance of the property which is taking place
in a way | Set of kinds of the insurance
providing payment of insurance compensation at loss or damage of cargoes, luggage
and other property by transportation (transportation) by various types of transport | Class
VIII | Insurance of property upon fire and acts of nature | Set
of kinds of the insurance providing payment of insurance compensation at loss
or damage of property (except for specified in classes 3 and 7) as a result of
a fire, explosion, a storm, hurricane, a downpour, a collapse, get down a ground,
a landslip, action underground waters, lodging, impact of a lightning, earthquake,
a nuclear energy | Class
IX | Insurance of property upon damage | Set
of kinds of the insurance providing payment of insurance compensation at loss
or damage of property (other, than specified in classes 3 and 7) as a result of
a hailstones, plentiful snowfalls or frosts, burglary and other events which have
been not specified in a class 8 | Class
X | Insurance of a civil liability | Set
of kinds of the insurance providing payment of insurance compensation at drawing
of harm to the third parties (physical and legal persons) owing to use of ground
vehicles and other self-propelled machines and mechanisms, including the responsibility
of carriers | Class
XI | Insurance of the responsibility within the framework
of aviation insurance | Set of kinds
of the insurance providing payment of insurance compensation at drawing of harm
to the third parties (physical and legal persons) owing to use of an air vessel,
including the responsibility of air carriers | Class
XII | Insurance of the responsibility within the framework
of sea insurance | Set of kinds of the
insurance providing payment of insurance compensation at drawing of harm to the
third parties (physical and legal persons) owing to use sea and internal river
courts, including the responsibility of a sea carrier | Class
XIII | Insurance of the general civil liability | Set
of kinds of the insurance providing payment of insurance compensation at occurrence
of a civil liability before the third persons (physical and legal persons) owing
to the risks which have been not specified in classes X, XI and XII | Class
XIV | Insurance of credits | Set
of kinds of the insurance providing payment of insurance compensation at losses
of the insurant as a result of an inconsistency (bankruptcy) of the debtor of
the insurant or (besides an inconsistency) defaults by the debtor of the obligation
to the insurant to pay off debts | Class
XV | Insurance of the guarantee (guarantees) | Set
of kinds of the insurance providing payment of insurance compensation at losses
of the insurant as a result of his duty to execute a guarantee given to him | Class
XVI | Insurance upon other financial risks | Set
of kinds of the insurance providing payment of insurance compensation at: à)
Losses of the insurant as a result of interruption of business (economic activities)
of the insurant or reduction of scale of the business (economic activities) which
is carried out by the insurant; b) Losses of the insurant
as a result of contingencies (except for specified in a class XVII); c)
Others, than specified in items à) and á) the present class, losses as a result
of realization of activity on the conclusion and execution of contracts | Class
XVII | Insurance of the charges connected to a legal
protection | Set of kinds of the insurance
providing payment of insurance compensation at losses of the insurant as a result
of suffered charges in connection with proceeding
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THE
DECREE Of THE PRESIDENT
OF REPUBLIC UZBEKISTAN
On
January, 31, 2002 # UP-3022
About measures
on the further liberalization
and to development of the insurance market
With
a view of the further development of process of liberalization and Deepening of
economic reforms in sphere of insurance services, amplifications Economic stimulus
of development of the insurance market of republic, strengthening Financially
technical base of the insurance organizations and their maintenance Financial
stability: 1. To release since February, 1, 2002 the insurance
organizations, Irrespective of patterns of ownership, from payment of the tax
to the income (profit) for the period of 3 years, with a target direction of liberated
means on Development of their material base, creation ramified Agency network
in regions, on preparation and retraining of personnel, in that Number abroad.
2.
To define, that: - At a direction of the means liberated
from the taxation, on Increase in authorized capitals of the insurance organizations
in which is present the share of the state, the specified means are set off in
structure of a share, belonging to the state; - In case
of liquidation of the insurance organization or the termination to it Insurance
activity within four years, since February, 1 2002 Year, the sum of the tax to
the income (profit) is raised in the full size for All grace period given according
to hereby the decree.
3. To establish, that charges
of legal persons on voluntary To kinds of insurance are subject to a deduction
from taxable base at calculation the tax to the income (profit) within the limits
of the norms established the legislation.
4. Item 2
of the Decree of the President of Republic Uzbekistan from October, 10, 1997 N
ÓÏ-1871 « About additional measures on stimulation of export the goods (works,
services) » to state in the following edition: «To
establish, that since February, 1, 2002 managing subjects Can carry out export
of goods (works, services) for free Convertible currency without the advance payment,
opening of the letter of credit, at presence of a guarantee of banks of the buyer
or at presence of the insurance policy of export contracts from political and
commercial Risks».
5. To the Ministry of Justice of
Republic Uzbekistan together with The Ministry of Finance in a month to bring
to the Cabinet Offers on changes and additions in the current legislation, following
from the present Decree.
6. The control over execution
of the present Decree to assign on The assistant to the Prime minister of Republic
of Uzbekistan Azimov R.S.
President I.Karimov |
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THE DECREE THE
PRESIDENT OF REPUBLIC UZBEKISTAN
On
February, 18, 1997 # UP-1710
About formation
of the «Uzbekinvest»
National Export-Import Insurance Company
With
a view of the further stimulation of growth of export, maintenance Insurance protection
of the Uzbek exporters, realization complex Marketing promotion of a domestic
production on international The markets of technologies, the goods and services:
1. To accept the offer of the Ministry of Finance, the Ministry External economic
relations of Republic Uzbekistan, National bank Foreign trade activities of Republic
Uzbekistan about transformation National insurance company «Uzbekinvest» in the
«Uzbekinvest» National Export-Import Insurance Company. To
establish, that the «Uzbekinvest» National Export-Import Insurance Company is
the assignee National Insurance company «Uzbekinvest» on all property and non-property
To the rights and obligations.
2. To define the basic
directions of activity «Uzbekinvest» National Export-Import Insurance Company:
- Maintenance of insurance protection of national exporters The capital, technologies,
the goods and services from political, commercial and Enterprise risks in the
international markets; - Granting insurance guarantees
of a covering export The credits allocated by commercial banks - residents of
Republic Uzbekistan for financing export of technologies, the goods and services;
- The organization of the complex marketing analysis development Strategy of effective
promotion of a domestic production on The international markets of technologies,
the goods and services; - Complex insurance protection
of foreign investments Involved in priority branches of economy of Republic Uzbekistan.
3.
To take into account, that by founders it is declared the fund capital of the
«Uzbekinvest» National Export-Import Insurance Company in the size, equivalent
60 million. dollars USA, which is formed for the account:
à) A constituent payment of the Ministry of Finance equivalent 50 million dollars
USA, put from: - Own means of Uzbekinvest, equivalent 30
million. dollars USA; - Dividends received from activity
of the joint company «Uzbekinvest International» London) for 1996-1997, and capitalizations
own profit from activity of the «Uzbekinvest» National Export-Import Insurance
Company in the size, equivalent 10 million.dollars USA;
- Capitalizations of own profit of the company and means The Ministries of Finance
of the Republic Uzbekistan, dollars equivalent 10 million.dollars USA, brought
in 1998; b) A constituent payment of National bank external
economic Activity of Republic Uzbekistan at a rate of 10 million dollars. The
USA, Brought in 1997.
4. The republican Commission on
a monetary and credit policy:
- To consider stage by stage
when due hereunder questions Convertings of the profit in soums from own activity
«Uzbekinvest» National Export-Import Insurance Company in free the convertible
currency directed on formation of the authorized capital The companies in 1997-1998; -
To provide to the exporters having an insurance covering «Uzbekinvest» National
Export-Import Insurance Company, converting Insurance compensation, paid in soums,
in hard Currency, in the sum corresponding to obligations of the company; -
To assist in realization of the problems assigned to the company.
5.
To establish, that according to the international norms The state export insurance,
the guarantor on insurance To obligations of the «Uzbekinvest» National Export-Import
Insurance Company, coordinated with the Government of Republic Uzbekistan, The
Ministry of Finance of Republic Uzbekistan is.
6. To
release the «Uzbekinvest» National Export-Import Insurance Company and its territorial
branches on five years from payment of taxes to the income and property, having
established, that all âûñâîáîæäåííûå from the taxation of means go on increase
The authorized capital and insurance (reserve) fund of the company.
7.
To the cabinet in week term to accept the decision on To questions of the organization
of activity of the National company export Import insurance «Uzbekinvest».
The
president of the Republic of Uzbekistan I.Karimov |
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