About 38.02% of joint stock companies meet legislation requirements on minimal size of charter capital

President of Uzbekistan Islam Karimov signed a decree “On measures on further improving financial sustainability of enterprises of real sector of economy” on 18 November 2010. The document set minimal size of charter capital for newly created joint stock companies at the size of US$400,000 from 1 January 2009.

The decree added that existing joint stock companies should raise their charter capitals to US$400,000 by 1 January 2010 or reorganize enterprise to private form of ownership.

The depository said 578 joint stock companies out of total 1,520 registered at the Central Depository meet requirements of the decree. Their total volume of authorized capital makes up 5.865 billion soums or 98.4% of total authorized capital of joint stock companies.