Bureaucracy is Prevented in Corporate Relations
Uzbekistan
According to the Law of the Republic of Uzbekistan No. O‘RQ-1025, certain legislative acts have been amended and supplemented. Under these changes:
The forms of unitary enterprises and additional liability companies are abolished;
In the reorganization of legal entities through mergers, acquisitions, and changes in organizational-legal form, their rights and obligations are transferred to the reorganized legal entity, regardless of whether they are reflected in the transfer document or not;
The legal status of institutions such as corporate contracts, consortiums, and consortium agreements is determined;
The requirement for the state registration of the founding agreement of limited liability companies is abolished;
Decisions of supervisory boards of business entities regarding the issuance of shares, corporate bonds, and other securities must be disclosed as material facts in accordance with legal acts;
Information on the state registration of securities issuance and the issuance of licenses for conducting professional activities in the securities market by the authorized state regulatory body is published.
In the reorganization of legal entities through mergers, acquisitions, and changes in organizational-legal form, their rights and obligations are transferred to the reorganized legal entity, regardless of whether they are reflected in the transfer document or not;
The legal status of institutions such as corporate contracts, consortiums, and consortium agreements is determined;
The requirement for the state registration of the founding agreement of limited liability companies is abolished;
Decisions of supervisory boards of business entities regarding the issuance of shares, corporate bonds, and other securities must be disclosed as material facts in accordance with legal acts;
Information on the state registration of securities issuance and the issuance of licenses for conducting professional activities in the securities market by the authorized state regulatory body is published.
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