Tashkent, Uzbekistan (UzDaily.com) -- At the fifty-second plenary meeting of the Senate, the Law “On amendments and additions to certain legislative acts of the Republic of Uzbekistan in connection with further improvement of the activities of the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan” was discussed.

The law, which was at the center of the discussion, introduces amendments and additions to the laws “On Regulatory Legal Acts” and “On Competition”.

In 2023, the Committee for the Development of Competition determined the rules providing business entities with state assistance, that is, tax and customs benefits, subsidies, grants, state guarantees in 142 out of 614 draft regulations developed by ministries and departments on competition issues in commodity and financial markets.

In addition, the Committee for the Development of Competition identified 717 cases of violation of the law when studying the compliance of regulatory and other acts adopted by state authorities and local government with competition laws.

In this regard, amendments are being made to the Law “On Regulatory Legal Acts” to provide for coordination with the Committee for the Development of Competition and Protection of Consumer Rights of draft regulatory legal acts providing for the provision of state assistance.

In addition, this Law amends the Law “On Competition”, according to which business entities are provided with convenience in applying financial sanctions for violating the law.

Thus, it is established that a business entity that has committed a low-level violation of competition law for the first time will be issued a warning to prevent the re-commitment of such an offense and the non-application of financial sanctions against it.

During the discussion, it was noted that the Law serves to harmonize regulations governing the field of competition, ensure a healthy competitive environment in the product and financial markets, as well as establish fairness when taking measures against business entities.

Following the discussion, the Law was approved by the senators.