Improvement of corporate management discussed in Tashkent

The working group of the Committee on proposal of the political parties and Ecological Movement of Uzbekistan is planning to discuss draft law “On introduction of changes and amendments to the law “On joint stock companies and protection of rights of shareholders”.

Members of UzLiDeP faction and the Committee on Budget and Economic Reforms, representatives of party organizations, businesses and farmers, state bodies and experts attended the event.

The draft law “On introduction of changes and amendments to the law “On joint stock companies and protection of rights of shareholders” was passed by the Legislative Chamber in the first reading and currently it is prepared to the second reading.

It was noted that the draft law strengthens principles and approaches of corporate management, introduces international experience of corporate management.

MPs underlined that the document envisages protection of right of minority shares and improve activities of the corporate management bodies. In particular, the document envisages that shareholders should approve mid- and long-term development strategies of the companies.

The participants made proposals on further improving the draft law, which will be considered at preparing the document to next reading.