Additions and changes to the Rules for the conclusion of transactions with securities. (Government Decree of the Kyrgyz Republic dated July 2, 2015 No. 435)
In order to develop an organized stock market, in accordance with Article 39 of the Law of the Kyrgyz Republic “On the Securities Market”, the Government of the Kyrgyz Republic decides:
1. To make the following amendments and additions to the Decree of the Government of the Kyrgyz Republic “On the Approval of the Rules for Securities Transactions in the Kyrgyz Republic” dated October 17, 2011 No. 647:
in the Rules for the conclusion of transactions with securities in the Kyrgyz Republic, approved by the above resolution:
-in paragraph 24:
the first sentence of the third paragraph shall be amended as follows:
“Exchange transactions may be concluded without a set of orders (direct transactions) in the event of significant circumstances for registering a direct transaction on the stock exchange, provided for by this clause, the Rules for Trading Securities of the Stock Exchange adopted by the stock exchange in accordance with regulatory legal acts of the Kyrgyz Republic.”
add paragraphs of the fourth – the seventh as follows:
“An essential circumstance for registering a direct transaction on the stock exchange is the impossibility of conducting a market transaction using the open bidding method, since the parameters and conditions of such a transaction are predetermined by the parties based on the results of an auction or tender, a decision of the general meeting of shareholders or the board of directors of the company on the following issues:
– sale of a stake in the company to an investor who won by the results of an auction or tender:
– payment of dividends to shareholders in the form of securities;
– distribution of shares among shareholders with an additional issue paid at the expense of the funds of an open joint-stock company.”;
– paragraph seven of paragraph 30 to recognize null and void.
2. This resolution shall enter into force 15 days after the date of its official publication..
Премьер-министр Т. А. Сариев