of March 9, 2023 No. ZRU-821
About management of state-owned property
Accepted by Legislative house on March 15, 2022
Approved by the Senate on June 13, 2022
The purpose of this Law is regulation of the relations in the field of management of state-owned property.
Features of the relations in the field of management of natural resources (the earth, subsoil, water, airspace, minerals, plant and animal life and other natural resources), objects of material cultural heritage, the Government budget of the Republic of Uzbekistan, gold stock, currency fund, dwelling stock and other state funds, and also property administrations of the Central bank of the Republic of Uzbekistan and the organizations subordinated to it are regulated by the separate laws of the Republic of Uzbekistan.
The legislation on management of state-owned property consists of this Law and other acts of the legislation.
Management of the state-owned property which is located abroad is performed taking into account the legislation of the state in which it is.
In this Law the following basic concepts are applied:
the company with participation of the state - economic society with the state share in authorized fund (authorized capital) in the amount of more than fifty percent or economic society with size of the state share in authorized fund (authorized capital) is more in relation to share of each other shareholder (participant) of economic society, and also the state unitary enterprise;
public institution - the organization created by state body or the organization for implementation of managerial, welfare or other functions of non-commercial nature and financed by it completely or partially;
state-owned property - the public property consisting of republican property and property of administrative-territorial educations (municipal property);
the register of state-owned property - the single electronic information base containing data on state-owned property;
the state share - shares or shares in authorized capitals (authorized capital) of economic societies belonging to state bodies, public authorities on places, to the state unitary enterprises, public institutions, including the Central bank of the Republic of Uzbekistan and Fund of reconstruction and developments of the Republic of Uzbekistan;
the state unitary enterprise - the commercial organization formed based on state-owned property and founded on the right of operational management.
The main directions of state policy in the field of management of state-owned property are:
ensuring complete accounting of state-owned property;
ownership of state-owned property in case of its compliance to the criteria specified in this Law;
reducing the state participation in economy by privatization, reorganization and liquidations of state-owned property in spheres where the competition is developed;
implementation of the modern principles of corporate management in activities of the companies with participation of the state;
use of modern information technologies;
creation of open and transparent reporting system;
reforming of the companies with participation of the state, and also taking measures to their step-by-step transformation to the effective companies capable to compete in the internal and external markets.
The basic principles of management of state-owned property are:
openness and transparency;
equality of conditions for healthy competition;
justification of ownership of state-owned property;
efficiency of use of state-owned property;
separateness of functions of the owner and regulator;
priority of environmental protection and natural resources.
Control of state-owned property shall be exercised according to the Constitution of the Republic of Uzbekistan, this Law and other acts of the legislation.
The companies with participation of the state provide provision to Agency on management of the state assets of the Republic of Uzbekistan (further - the Agency) information on economic and financial performance of the activities, and also the other information connected with their financial and economic activities, according to the procedure, established by the legislation.
Public institutions, including state bodies, and also executive bodies on places provide to the Agency the information on the state-owned property assigned to them in the procedure established by the legislation.
On condition of financial performance and use of state-owned property at the companies with participation of the state the Agency at least once a year reports to the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan, and to chambers of Oliy Majlis of the Republic of Uzbekistan - on their requests.
Data on state-owned property shall be open for all, except for state-owned property, data on which are not subject to disclosure according to the law.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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