Article 19. Enforcement of concluded exchange transactions

On introduction amendments and additions to the Law of the Republic of Uzbekistan «On exchanges and exchange activities» (LRU-375-son) · Date: 12.09.2014 · In force

Exchanges create conditions for ensuring the execution of concluded exchange transactions by:

clearing and settlement;

exercising control and accounting for the supply of exchange goods if this is provided for by the terms of the exchange establishing mechanisms providing for the preliminary deposit of cash and exchange goods;

monitoring compliance with exchange trading rules and obligations on exchange transactions.

If the exchange is declared bankrupt, the property of the exchange members and their customers on the exchangeʼs accounts is not included in the liquidation mass and must be returned to the exchange members and their customers after fulfillment of their obligations under the exchange transaction.

Foreclosure on the property of members of the exchange and their customers for the obligations of the exchange is not allowed.

The fulfillment of obligations on an exchange transaction in case of insufficient funds of exchange members can be ensured by the funds of the fund for ensuring the execution of concluded exchange transactions, provided to them on a paid and repayable basis.

Exchanges may also create other conditions for ensuring the execution of concluded exchange transactions in accordance with the law.

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Source of the text

National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/4582085

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Cite as: Article 19. Enforcement of concluded exchange transactions On introduction amendments and additions to the Law of the Republic of Uzbekistan «On exchanges and exchange activities» (LRU-375-son). neolex.uz/en/laws/law-2462670/19 (lex.uz/docs/4582085)