LAW FIRM LEGATE WISHES MERRY CHRISTMAS AND COMING NEW 2022 YEAR!
Public-Private Partnership in the Republic of Uzbekistan: What changed?
The Government involvement into relations that are subject to the civil legislation on an equality with other participants is stipulated by the Article 79 of the Civil Code of the Republic of Uzbekistan. At the same time, it is stipulated that the regulatory and administrative authorities and other bodies specially authorized by such shall participate in the relations that are subject to the civil legislation on behalf of the Government.
The Public-Private Partnership (PPP) shall represent one of the forms of such interaction between the Government and the private sector. The Law of the Republic of Uzbekistan "On Public-Private Partnership" has been adopted on May 10, 2019. A special body - the PPP Development Agency that is defining the uniform PPP Policy in the Republic, considering projects, approving the tender documents and PPP agreements has been created even earlier by the Decree of the President of the Republic of Uzbekistan dated as of October 20, 2018.
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Set up a limited liability company: step by step
The Law Firm ‘LEGATE’ provides brief information on the procedure for the formation and registration of a commercial enterprise in the form of a limited liability company, which is the most common legal form in the Republic of Uzbekistan.
By the Law of the Republic of Uzbekistan “On Limited and Additional Liability Companies”, a limited liability company is a company established by one or several persons (individuals or legal entities), whose authorized capital is divided into shares of the sizes determined by the constituent documents. Participants in a limited liability company are not liable for its obligations and bear the risk of losses associated with the activities of the company, to the extent of the value of their contributions.