Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 19 July 2013 and Senate approved it on 22 August 2013. The law will come into force on 1 July 2014.

The law is directed at regulating relations in conducting the pledge registrar.

According to the law, the organization on pledge registry, created under the Central Bank of Uzbekistan, will run the registrar.

The organization on pledge registrars will record data on pledged properties in line with the agreement on real time, including via Internet. It will also provide consulting service on use of registrar to legal entities and individuals, search of information, etc.

The organization provides information in electronic form and if necessary, the data can be issued in paper forms.

The pledge registrar will include data on rights of creditors to property of debtors, which they put as a pledge, as well as other rights in line with the legislation in leasing property, receiving loan, transfer of property and others.

The registrar will also include data on decision of the courts on the property of debtor, limiting right of debtor for pledged property, requests on repayment of debts, taxes or mandatory payments, etc.

The records are included to the registrar are included by the creditor in line with agreement of the debtor. There should be written agreement and it should include identification data of the debtor and pledged property.

The decision of the courts, tax and customs bodies, law enforcement bodies will be included to the registrar without agreement of the debtor. The debtors can request to include additional data to the registrar, if they think the provided data are incorrect and the creditors refused to introduce change.