As previously reported, in accordance with the Law of the Republic of Uzbekistan "On management of state property", as well as the Decree of the Cabinet of Ministers dated November 4, 2022 №647, the State Assets Management Agency announced the selection and subsequent election of candidates for the members of state share of supervisory board of the enterprises with state participation.

The State Assets Management Agency announces the extension of selection terms of candidates for the members of state share of supervisory board of the following 21 enterprises with state participation, as well as additional 3 enterprises.

Applications for participation in the selection are accepted electronically on a special web portal of the State Assets Management Agency cns.davaktiv.uz (read the instructions on the procedure of using the portal).

Additional requirements are determined taking into account the industry orientation of each enterprise.

The selection process is open to all individuals wishing to become members of the supervisory board at enterprises and who meet the following general requirements:

• have a current corporate governance qualification certificate, with the exception of individuals who are not required to be certified as a corporate governance qualification certificate by law;
• have higher education;
• have at least 2 years of work experience, with preference given to candidates with industry-specific experience.

The following individuals are not eligible as candidates for members of state share in supervisory board:

• members of the executive board and director of the company or individuals performing their functions, employed by the enterprise or its branches and subsidiaries under an employment agreement (contract);
• individuals, convicted of economic crimes or crimes against the governing procedures and deprived of the right to occupy the positions on the basis of court decisions, as well as those found guilty of committing corruption offences;
• Employees of public administration bodies that perform regulatory or supervisory functions in relation to the enterprise (including licensing bodies and bodies inspecting financial and economic activities);
• individuals, who are prohibited to act as members of the supervisory board by law;
• individuals, who are members of five or more supervisory boards, with the exception of cases prescribed by the law;
• employees of the audit organization, who provided audit services to the enterprise and (or) its affiliates during the last three years.

The candidates accept the fiduciary obligations imposed on the members of the Supervisory Board.

The amount of remuneration paid to members of the Supervisory Board will be determined by the level of effectiveness in implementing the principles of corporate governance and in accordance with the procedure established by the internal regulatory documents of each enterprise.

All candidates who meet the aforementioned requirements are welcome to participate in the selection!