Corporate governance issues discussed by UzLiDeP in regions

The event was attended by deputies of Legislative Chamber of Oliy Majlis, representatives of Chamber of Commerce and Industry, regional Council of Farmers and commercial banks as well as entrepreneurs, farmers and the media.

The participants considered the problems and their implementation outlined in the concept and they also discussed the further development and adoption the new edition of the law "On joint-stock companies and protection of shareholders’ rights " with a clear definition of rights and responsibilities of corporate governance and regulatory bodies.

The purpose of the new law is a further development of the corporate governance system at domestic enterprises by specifying and clarifying of some and introducing new provisions to acting Law, improving legal protection of shareholders, especially, minority shareholders, increasing the role and importance of management and control bodies of joint-stock companies as well as ensuring information transparency for companies’ shareholders and potential investors.

The participants made proposals to create the necessary conditions for entrepreneurs and their active participation in the securities market as well as additions and amendments to existing laws.

K.Ergashev, Member of UzLiDeP said that the adoption of this draft law will improve the legislation of joint stock companies, as well as ensuring regulatory changes in the composition of the founders of the company, quickly respond to urgent issues, to monitor the activities of the executive bodies and the transparency of their activities.

During the dialogue, proposals and recommendations for further development the role of small business and private entrepreneurship in the securities market were developed.