Antimonopoly Committee proposes to introduce antitrust compliance

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan intends to introduce a system of internal compliance with the requirements of competition law (antitrust compliance system).

The antimonopoly committee published a draft decree of the President of Uzbekistan “On measures to introduce a risk management system and prevent violations of competition law” for discussion.

According to the document, the implementation of the anti-monopoly compliance system from July 1, 2020 will be mandatory for government bodies, local government bodies and business entities, fifty or more percent of shares (shares) in the authorized capital (authorized capital) of which belongs to the state.

Legal entities affiliated with business companies, fifty or more percent of shares (shares) in the authorized capital (authorized capital) owned by the state, as well as their subsidiaries, must implement the system from January 1, 2022.

At the same time, private entrepreneurs can introduce this system on a voluntary basis.

Officials of state administration bodies, local government bodies and business entities that have implemented a system of anti-monopoly compliance will not be held administratively liable in the event of violation of competition law, the document says.

The document plans to approve the list of business entities in which the anti-monopoly compliance system will be introduced in pilot mode until January 1, 2020. The list includes Quartz, Asaka Bank, GM Uzbekistan, Almalyk MMC, Uztransgaz, Thermal Power Plants, Uzpakhtasanoat, National Electric Networks of Uzbekistan, Regional Electric Networks and Qizilqumcement.