Senate of the Republic of Uzbekistan approved eight laws and rejected the Law on international commercial arbitration

During the second plenary session of the Senate of the Oliy Majlis several laws were discussed, with eight draft laws being approved and one rejected. Senators rejected the Law “On International Commercial Arbitration”.  The draft Law provided for the legal regulation of the establishment and termination of international commercial arbitration courts, determination of the basic principles of their activities, ensuring reliable protection of the rights and legal interests of foreign investors. However, senators emphasized the existence of several conceptual flaws and noted the need for a serious revision of the Law.

The following amendments were introduced:

  • The senators approved the Law “On amendments and additions to certain legislative acts of the Republic of Uzbekistan in connection with the improvement of the procedure for case management in courts”.
  • The Law of the Republic of Uzbekistan "On the legal framework for the activities of legal entities" is subject to amendments, which now make it possible for legal entities to resolve their disputes speedily. Besides, from February 1, 2020, legal entities will be able to submit their claims and annexes to them electronically to the defendant and the Economic Court through the personal cabinet of the taxpayer.
  • Accordingly, an addition is made into Article 150 of the Economic Procedural Code, allowing submitting claims and their annexes to the defendant and third parties in electronic form. At the same time, prior to filing a claim to court, the plaintiff-taxpayer can direct copies of the claim and annexes to them to other taxpayers – the defendant and third parties through the personal cabinet of the taxpayer, as well as download information confirming their sending through the information system.
  • Amendments are to be expected per the approved Law "On amendments and additions to some legal acts of the Republic of Uzbekistan", and will also apply to the list of activities that require licensing
  • Additions are made to the Code of Administrative Responsibility, providing for the establishment of administrative responsibility for violation of the procedure for weddings, family celebrations, funeral rites and ceremonies. The amendments also provide for the authorities of the Audit Office to bring to administrative responsibility those who are responsible of violating budgetary and estimated staff discipline.
  • The Law “On political parties” now forbids the officials of the Audit Office to be members of political parties.
  • Amendments are made to the Law "On Microfinance" in order to increase the volume of microfinance services rendered, as well as to satisfy the growing need for them. Amendments include the establishment of the number of microfinance services in absolute value, in particular, the issuance of a microloan to a borrower for entrepreneurial activity in an absolute amount not exceeding UZS 300 million.
  • The Law "On ratification of the charter of the Hague conference on private international law (The Hague, October 31, 1951)" was approved by members of the Senate. The Law was developed by the Ministry of Foreign Affairs of Uzbekistan and aimed to promote the phased unification of international private Law. The advantages of joining the Hague Conference include ensuring the further development of the legal system of Uzbekistan per international standards, as well as increasing the effectiveness of protecting the rights and interests of citizens of the state abroad.
Әрқашан соңғы ақпаратты алу үшін жаңалықтар таратылымымызға жазылыңыз.: