of February 14, 2024 No. ZRU-907
About privatization of state-owned property
Accepted by Legislative house on September 5, 2023
Approved by the Senate on November 24, 2023
The purpose of this Law is regulation of the relations in the field of privatization of state-owned property.
Realization of state-owned property based on court resolutions, privatization of the state housing stock, privatization of the parcels of land of nonagricultural appointment (except for privatizations of the state property complexes (companies), buildings and constructions, objects of construction in progress together with the parcels of land) are regulated by the separate laws of the Republic of Uzbekistan.
Privatization of the state real estate objects located in the territory of small industrial zones, youth industrial and entrepreneurial zones is performed according to separate acts of the legislation of the Republic of Uzbekistan.
The legislation on privatization of state-owned property consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about privatization of state-owned property then are applied rules of the international treaty.
Privatization of the state-owned property of the Republic of Uzbekistan which is located abroad is performed taking into account this Law and the legislation of the state in which there is property.
In this Law the following basic concepts are applied:
the state real estate objects - property complexes (companies), buildings and constructions, including the objects of construction in progress belonging to the state on the property right;
privatization of state-owned property - realization of state-owned property to physical and non-state legal entities according to the procedure, provided by this Law;
the participant - the applicant participating in the public biddings or his authorized representative;
the professional consultant - the legal entity or physical person (including foreign legal entity or physical person) rendering services in various directions of consulting services, including financial, investment, economic and (or) legal issues, attracted for the purpose of the organization of preparation for process of privatization and sale of the privatized state-owned property, and also making of the related transactions;
the applicant - the physical or non-state legal entity (including foreign legal entity or physical person) who submitted the application for participation in the public biddings on the privatized state-owned property;
the buyer - person or his representative who concluded with authorized state body or its territorial administrations or person authorized by him the purchase and sale agreement or stock exchange transaction on privatization of state-owned property according to this Law;
economic society - joint-stock company, limited liability company.
The basic principles of privatization of state-owned property are:
legality;
openness and transparency;
accountability;
providing equal competitive environment;
inadmissibility of corruption.
Privatization of state-owned property shall be performed according to the Constitution of the Republic of Uzbekistan, this Law and other acts of the legislation.
Process of privatization of state-owned property, including data on the privatized state-owned property, shall be open and transparent.
State bodies shall create possibility of open entry to data on the privatized state-owned property by methods, stipulated by the legislation about openness of activities of state governing bodies.
The authorized state body reports on condition of privatization of state-owned property to the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan at least once a year, and on demand - to chambers of Oliy Majlis of the Republic of Uzbekistan.
Territorial administrations of authorized state body at least once a year report on condition of privatization of municipal property in the corresponding territory to the Chairman of the board of Ministers of the Republic of Karakalpakstan, hokimama of areas and the city of Tashkent, and also to the Jokargi Kenes of the Republic of Karakalpakstan, Kengashami of People's Deputies of areas and the city of Tashkent.
The applicant who expressed desire to privatize state-owned property has the participation rights, equal with other applicants, in the course of privatization in the cases provided by this Law.
The authorized state body and (or) its territorial administrations create the conditions providing to applicants healthy competition, equality and impartiality in relation to them.
Inadmissibility of corruption in the course of privatization of state-owned property is performed by providing:
elimination of the bases which can lead to conflict of interest;
widespread introduction in the course of privatization of state-owned property of remote forms of interaction of state bodies, physical and non-state legal entities;
creations of equal conditions for applicants in the course of privatization of state-owned property;
implementation of the procedure of privatization of state-owned property according to the requirements established by this Law.
Subjects to privatization of state-owned property are:
state real estate objects;
state shares (shares, shares);
public institutions
.The state-owned property, except for not privatizeable state-owned property, stipulated by the legislation about management of state-owned property, can be privatized fully or partially.
Subjects of privatization of state-owned property are the authorized state body and (or) its territorial administrations and buyers.
In case of privatization of state-owned property by applicants there cannot be persons who according to the legislation are forbidden to participate in process of privatization of state-owned property, and also applicants whose participation can lead to unfair competition, and persons affiliated concerning them.
Cabinet of Ministers of the Republic of Uzbekistan:
coordinates activities of state bodies in case of privatization of state-owned property;
approves the privatization program of republican property in accordance with the established procedure, except for the state-owned property specified in paragraph four of part one of this Article;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.