of February 21, 2024 No. ZRU-911
About modification and amendments in some legal acts of the Republic of Uzbekistan in connection with adoption of law of the Republic of Uzbekistan "About insolvency"
Accepted by Legislative house on October 10, 2023
Approved by the Senate on December 20, 2023
In recent years in the country consecutive reforms on support of subjects of entrepreneurship, protection of their interests are performed.
Within the undertaken reforms widespread introduction was received by practice of financial improvement of the subjects of entrepreneurship which appeared in insolvency condition by application of procedures of recovery of their solvency. Besides, at the legislative level the bases and effects of recognition of physical persons are determined by insolvent.
At the same time adoption of law of the Republic of Uzbekistan "About insolvency" caused need of reduction in compliance of regulations with it the existing legal acts for uniform application of its provisions.
This Law makes changes and additions to the laws and codes of the Republic of Uzbekistan providing refining of signs of insolvency of physical persons and legal entities, and also the bases for accountability for violation of the law about insolvency.
The law will serve providing the effective organization of execution of the Law of the Republic of Uzbekistan "About insolvency", to elimination of discrepancies and contradictions in case of application of its legal statuses.
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