MPs consider new draft laws

The document was developed in line with the presidential resolution “On programme measures on deepening and expanding wide-scale reforms in economy of Uzbekistan in 2011-2015, determining and implementing system of criteria and assessment on forming business climate in the country”, the press service of the lower house of the Uzbek parliament said.

The document is directed at improving role and place of securities market in financial market and economy of the country as a whole, as well as its competitiveness.

The draft law envisages modernization of securities market in the country through transfer to modern information technologies and introduction of modern experience in regulation of securities market.

The draft law includes norms directed at simplifying procedures related to emission of securities market, including launch of new financial tools, conducting deals with use of ICT, improving activities of the professional players of the market, etc.

MPs also discussed a draft law, which was introduced by Supreme Court of Uzbekistan, directed at further improving separate norms of legal, legal-procedural and criminal-executive legislation, envisaging liberalization of criminal punishment, order of serving of the punishment, etc.

MPs passed the draft laws after discussions in the first reading and entrusted corresponding committees to prepare them for the second reading.