Legislative Chamber holds seminar on protection rights of shareholders

MPs, representatives of ministries and departments, commercial banks, joint stock companies, lawyers and experts participated at the seminar, the press service of the lower house of the Uzbek parliament said.

During the meeting, representatives of the State Competition Committee and the Center for coordination and development of securities market briefed participants on goals and tasks of the law “On joint stock companies and protection of rights of shareholders” in new edition.

It was underlined that the draft law developed in line with the Concept of further deepening democratic reforms and forming civil society in the country and presidential decree “On measures on further improving business environment and providing more freedom to entrepreneurship”.

It was said that the draft law is aimed at further improving corporate management in Uzbekistan through clarification of the law and improving mechanisms on protection of shareholders, including minority shareholders, ensuring transparency of the joint stock companies for shareholders and potential investors.

The participants received information on new mechanisms in the law. It was noted that the Legislative Chamber will consider the draft law in the second reading and it was improved based on proposals of MPs and public.

The seminar developed recommendations on further improving the draft law “On joint stock companies and protection of rights of shareholders”.