MPs pass amendments to some laws

The draft law is prepared in accordance with the Decree of the President of Uzbekistan from 21 December 2015 “On additional measures to attract foreign investors in joint-stock companies”.

In particular, it proposes to amend the law “On joint-stock companies and protection of shareholders’ rights” with the separate part, which envisages that joint stock companies are created with the participation of foreign investors with the share of at least 15% in the charter capital, except in cases, set by decisions of the President of Uzbekistan and the Cabinet of Ministers.

The law also introduces changes and amendments to some articles of Tax Code, which exempts joint stock companies from payment of state duty at general courts and economic courts on violation of rights and interests of shareholders, use of tax preferences, etc.