MPs consider several draft laws

MPs considered draft laws “On investment and mutual funds”, “On amendments to the Criminal Code of the Republic of Uzbekistan” and other legislation aimed at further improving the legal framework of the country.

MPs discussed a draft law “On investment and mutual funds”, which was developed in line with the Concept of further deepening democratic reforms and forming civil society in the country, the press service of the Legislative Chamber said.

It was underlined that investment and mutual funds developed in the world. The draft law was developed based on legislative acts of the United States, Germany, South Korea, Russia and other states.

Currently, the activities of the funds are regulated by the Civil Code, the law “On securities” and other laws. The draft law is directed at mobilizing free resources and investing them to financing various spheres of the national economy.

Investments of investors will form a single portfolio and each investor will have share, equal to his/her investment. The draft law will help to develop securities market and attract more investments into economy of Uzbekistan.

Representatives of political parties and MPs Group of Ecologic Movement of Uzbekistan participated in the discussion. Afterwards, the MPs approved its main clauses and passed it.

MPs also considered other issues, which were included to the agenda of the session and adopted corresponding decisions.