Tashkent, Uzbekistan (UzDaily.com) -- The Agency for State Asset Management of Uzbekistan (AUGA) commented on the draft law “On real estate activities” in a new edition.

The agency notes that the current law of 2010 does not meet modern realities and changes in the field of real estate activities.

The bill was developed in order to improve legislation in the field of providing real estate services, stimulate the withdrawal from the “shadow” and legalize the activities of illegal (black) realtors and real estate organizations, as well as ensure the protection of the rights of consumers of real estate services, and prevent escalating cases of fraud on the part of illegal realtors.

When developing the bill, the experience of developed countries was studied, including the USA, Germany and France, real estate agents are required to have licenses, and in the Benelux countries (Belgium, the Netherlands and Luxembourg), where the activities of realtors are most streamlined, in addition to having a license, each agent must become a member of one of professional organizations.

It was reported on social networks that AUGA wants to legally prohibit all apartment owners from posting advertisements for their sale and rental on the Internet. It will be possible only through realtors. These reports are not true, the agency reports.

AUGA emphasizes that Article 3 of this draft Law states that this Law does not apply to transactions carried out by property owners independently.

At the same time, Article 27 of the draft Law provides that information, consulting and advertising services in the real estate market are provided on the basis of an agreement for the provision of real estate services, concluded in the manner prescribed by law.

Part three of this article states that advertising and announcements by individuals or legal entities about real estate, including those posted on the Internet or on pages on social networks, are carried out by property owners exclusively through real estate organizations and real estate agents free of charge.

“In this regard, the wording of the provisions of Article 27 of the bill will be finalized and brought into compliance with the requirements of Articles 11 and 12 of the Law of the Republic of Uzbekistan “On Advertising,” as well as taking into account the interests of property owners and legislative technology,” the AUGA statement says.

The agency emphasizes that in general, this bill, based on the results of public discussion, will be finalized taking into account the proposals and comments received and submitted to the Ministry of Justice of the Republic of Uzbekistan for legal examination.

After receiving a positive conclusion from the Ministry of Justice, the bill will be submitted for consideration to the Cabinet of Ministers of the Republic of Uzbekistan in the prescribed manner.