Microsoft Word Microfinance development in Uzbekistan Eng doc

V. PROCEDURE OF REGISTRATION AND LICENSING OF ACTIVITY OF 
MICROCREDIT ORGANIZATION WITH RIGHT TO ATTRACT THE DEPOSITS OF THE 
POPULATION 
15. The application with all necessary documents for state registration and receiving of 
the license is being considered by the Central bank within 30 calendar days from the date of 
receipt of the application and necessary documents. 
16. The Central bank considers the submitted documents for the purpose of meeting the 
requirements of the present Statute and other legal acts.
17. Along with registration of microcredit organization with right to attract the deposits 
of the population, the license to carry out the activity of microcredit organization with right 
to attract the deposits of the population is issued in special form in accordance with appendix 
to the present Statute.
18. The microcredit organization with right to attract the deposits of the population 
should start to carry out its activity within one year from the date of licensing. 
19. After receiving the license, the Central Bank provides the microcredit organization 
with right to attract the deposits of the population with necessary normative and legal 
documents regulating the activity of microcredit organizations with right to attract the 
deposits of the population. 
20. The notification on state registration and licensing is sent to applicant in writing 
within 3 days after making a corresponding decision. 
21. The document certifying the state registration, receiving of the legal entity status 
and right to carry out the activity of microcredit organization with right to attract the deposits 
of the population is the license to carry out the activity of microcredit organization with right 
to attract the deposits of the population. 

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22. The Central bank formalizes the legal case that include the following documents:
the application for registration; 
the protocol of general meeting of founders; 
the charter of microcredit organization with right to attract the deposits of the 
population, the title page of which has a mark regarding its state registration, signed by the 
authorized official of the Central bank, certified by the seal of the Central bank; 
the decision of the Board of the Central bank on state registration and licensing of 
microcredit organization with right to attract the deposits of the population; 
the license to carry out the activity of microcredit organization with right to attract the 
deposits of the population. 
23. The legal case is formalized by the Central bank in three copies: 
one copy is given on receipt to the head of microcredit organization with right to attract 
the deposits of the population; 
one copy is kept in the Central bank; 
one copy is sent to Main territorial department of the Central bank where microcredit 
organization with right to attract the deposits of the population is territorially located. 
24. The state tax is levied for licensing to carry out the activity of microcredit 
organization with right to attract the deposits of the population: 
the state tax is levied at a rate of five times the amount of the minimum wage 
established by the legislation of the Republic of Uzbekistan; 
the state tax is paid into the republican budget.