State Property Committee develops new draft law on exchange activity
18/08/2010 23:10
State Property Committee develops new draft law on exchange activity
18/08/2010 23:10
Tashkent, Uzbekistan (UzDaily.com) -- State Committee of Uzbekistan on management of the state property (State Property Committee) developed a new draft law “On exchange activity”.
The draft law is directed at giving impulse for further development of exchange activity in Uzbekistan taking into account modern requirements, trends of exchange development in the world and making local exchanges close to leading global exchanges.
The law consists of 6 chapters and 36 articles. The document determines main principles in exchange activity and regulates work of exchanges.
The main principles of exchange activity are:
The currency exchanges can open stock department for placement and circulation of state securities, while commodity exchanges can open stock department to organize securities, which are based on good assets.
The exchanges can form sections or platforms on principle of similar goods, organization of exchange trade and other principles.
The exchanges should have charter capital equal to US$400,000 at the exchange rate of the Central Bank of Uzbekistan on the date of the state registration, the document said.
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