Tashkent, Uzbekistan (UzDaily.com) -- A draft of Entrepreneurial Code has been developed by the Ministry of Justice of the Republic of Uzbekistan and has been submitted for public discussion.

A draft of Entrepreneurial Code includes the following:

The draft Code combines into a single whole 9 existing laws, 2 new draft laws and more than 10 by-laws aimed at regulating all processes from the organization of entrepreneurial activity to its liquidation;

on the basis of advanced experience of developed countries, business entities are divided into small, medium and large categories;

organizational-legal forms of business entities are streamlined, the organizational-legal form of “economic partnership” is being abolished;

sole traders are entitled to carry out any activities not prohibited by law through determining types of activities that they cannot run;

146 supervision functions of 43 state bodies and lists of 18 types of inspections carried out in the order of notification of the Business Ombudsman are approved as an appendix to the draft of this Code. It is determined that all unregistered inspections will be carried out in the manner agreed with the Business Ombudsman;

4 forms of state supervision are determined, and solely the analysis of data and the application of legal sanctions against the entrepreneur for violations identified during the inspection are set out. Wherein:

financial sanctions are imposed by the court except for taxation and banking sanctions;

only financial sanctions are applied in cases where a financial sanction is imposed on a business entity for the same type of offense and administrative liability is imposed on its official;

financial sanctions shall not be applied to business entities that have committed offenses for the first time, if they have complied with the instruction to eliminate this violation, as well as to compensate the damage caused;

formation and disclosure of a Register of mandatory requirements on entrepreneurship, including all requirements, and a Single Register of privileges for business entities. In this case, it is prohibited to impose liability for claims that are not included in the Register of mandatory requirements;

it is being prohibited to make amendments and additions (except for mitigating norms) within one year after the adoption of legal acts providing for the imposition of additional obligations;

the following procedure for the introduction of government subsidies to support entrepreneurship is established:

the subsidy is introduced by the resolution of the President of the Republic of Uzbekistan, the procedures are determined by the Government;

a list of social entrepreneurship, social enterprise, socially vulnerable groups of the population and mechanisms to support them, including people with disabilities are established;

the legal status, goals and objectives of business incubators are determined;

direct tax, customs and other types of privileges and preferences to state-owned enterprises (SOE) that restrict competition are prohibited.