Tashkent, Uzbekistan (UzDaily.com) -- The President of the Republic of Uzbekistan signed the Law "On Competition".

In accordance with the document, the Committee for the Development of Competition and Consumer Rights Protection was determined as authorized antimonopoly state body, which is directly accountable to the President and the Senate and operates independently of other bodies and officials.

The requirements for the introduction of antimonopoly compliance are also fixed.

Antimonopoly compliance is a system of internal organizational procedures for ensuring compliance of activities with the requirements of competition law, identifying the risks of their violation and preventing risks.

The following organizations and enterprises must appoint a person responsible for antimonopoly compliance:

republican executive bodies and other organizations;

economic entities that have a dominant position in the commodity or financial market;

legal entities whose average annual revenue from the sale of goods over the past 3 years exceeds 100,000 BRV and in the authorized capital of which 50% or more belongs to the state;

legal entities whose average annual revenue from the sale of goods over the past 3 years exceeds 100 thousand BRV and in the authorized capital of which 50% or more belongs to the legal entity, the state share in the authorized capital of which is 50% or more;

associations of legal entities.

A definition of the concept of excellent bargaining power is also introduced. It recognizes the possibility of unilateral influence by an economic entity or a group of persons that does not have a dominant position on the definition of the terms of the transaction, the territory and the price of the sale of goods.