Uzbekistan will take measures to ensure a healthy competitive environment in the commodity and financial markets

    In focus 5 September 2024 992

    The law signed by the President of the Republic of Uzbekistan (Law No. 954 dated 04.09.2024) amended and supplemented some legislative acts.

    According to the amendments to the Law "On Regulatory Legal Acts", amendments were made providing for coordination with the Committee for the Development of Competition and Consumer Protection of draft regulatory legal acts related to the provision of state assistance.

    In addition, the Law "On Competition" has been amended, according to which, the type of activity of an economic entity, on the basis of which it will relate to natural monopoly entities, will be considered its main type of activity.

    In order to liberalize the punishment system, amendments were introduced providing for the non-application of liability measures in the form of financial sanctions to business entities that for the first time committed a violation of competition law with a low degree of economic impact.

    The law comes into force from the date of its official publication, according to the Ministry of Justice.