According to the document, the draft law is to regulate relations in management of the state property. The project consists of 11 chapters and 64 articles.

The document determines basics for management of state property, including purchase of property by the state, its administrative-territorial structures, their rights, sales of objects, etc.

State property based on subject of property is divided into state property and municipal property, the document said.

In line with the decision of Oliy Majlis of Uzbekistan, state property can be handed over to state bodies in places and gave status of state property to municipal property.

Subjects of state property are Oliy Majlis of Uzbekistan, President of Uzbekistan, Cabinet of Ministers of Uzbekistan, state bodies of public governance, administrative-territorial structures, legal entities, etc.

Cabinet of Ministers has right to manage assets of state property on behalf of Uzbekistan and sometimes municipal property in line with the legislation.

Chairperson of the Council of Ministers of Karakalpakstan, governors of regions have right to manage municipal property.

Rights and responsibility on management of state and municipal property can be delegated to ministries and departments, the document said.

State authorities have right to create state enterprises, joint stock companies, limited liability companies have shares in charter capital exceptionally to implement tasks of the state if the activities of the companies cannot be implemented due to insolvency.

State enterprises, joint stock companies, limited liability companies with the state property in charter capital, should be fully privatized if their task can be implemented by private sector.

The aim of management of state property is to satisfy main demands of population, protection of healthcare, public order and ensure security of the government, creation and development of production and social infrastructure, as well as formation of market economy.

The draft law also sets competence of subjects of the state property, issues of transfer of rights to state property, purchase of property, basics of management of state property.

Authorized bodies to manage state property should undertake all necessary measures in line with the legislation to improve investment attractiveness of the state property, on which decisions were approved on their privatization.

State real estate, which should be realized, can be transferred to loan with further right to purchase, the document said.

The draft law sets order on creation of state enterprises and establishment, their privatization and liquidation, as well as other issues. The document regulates issues on alienation of state property, accounting and preserving state property.

The decision on alienation of state property can be adopted by Oliy Majlis of Uzbekistan on proposal of the Cabinet of Ministers in case of strategic importance of the enterprises and state holding companies, the President of Uzbekistan, Cabinet of Ministers of Uzbekistan.

Decision on alienation of municipal property is adopted by Council of People’s Deputies, local state bodies, local departments of the State Property Committee.