Joint stock companies receive information on changes to legislation
17/10/2016 13:12
Joint stock companies receive information on changes to legislation
17/10/2016 13:12
Tashkent, Uzbekistan (UzDaily.com) -- A seminar for joint stock companies and other participants of securities market, ministries and departments, as well as mass media was held in Tashkent.
The seminar was organized with participation of experts of the State Competition Committee and State Tax Committee of Uzbekistan.
The event was aimed at explaining and discussing changes and amendments to the law “On joint stock companies and protection of rights of the shareholders” and “On execution of judicial acts and acts of other bodies”, as well as Tax Code.
In line with the presidential resolution from 21 December 2015, the Uzbek joint stock companies should sell at least 15% stakes to foreign investors or change their organizational forms. In line with changes to Tax Code, now foreign investors are exempted from payment of state duties on claims of violation of their rights and legal interests in the courts.
At the event, representatives of joint stock companies, which failed to sell 15% share to foreign investors, received information on changing organizational form.
The companies also were briefed on single software-technical complex of exchange market of Uzbekistan, which was created in cooperation with the Korean partners. They received information on technologies of conducting transactions in new complex.
New complex will allow to buy and sell shares and other corporate securities via Internet in online mode via website www.fondbozori.uz.
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