Some aspects of legal regulation of privatization issues in the Republic of Uzbekistan.

 Privatization of State assets in the Republic of Uzbekistan is proceeding apace and Uzbekistan is demonstrating its political will to expand the privatization process and to attract both foreign and domestic investors.
At present, the sale of state assets is mainly regulated by decrees and resolutions of the President of the Republic of Uzbekistan, other by-laws. The Law "On Privatization", adopted in 1991, although not invalidated, does not contain all the relevant changes necessary to regulate the rapidly developing privatization process.
 In this article, we want to briefly dwell on some aspects and features of the legal regulation of the issue of privatization, which must be kept in mind by foreign investors acquiring state assets.
1. The conditions and procedure for preparing, organizing and holding tenders for the sale of state property are carried out in accordance with the decisions of the State Commission for the Privatization of State Assets and Coordination of Privatization Processes (Appendix N 6 to the Decree of the Cabinet of Ministers of the Republic of Uzbekistan dated 06.10.2014 N 279).
The State Assets Management Agency of the Republic of Uzbekistan acts as the seller of state property.
State property means property (enterprise), shares (shares) of entities owned by the state on the basis of ownership.
A non-state legal or natural person (resident or non-resident of the Republic of Uzbekistan), who has declared his intention to participate in the tender on the proposed conditions, can act as an applicant.
2. The State Commission for the Privatization of State Assets and Coordination of Privatization Processes has been given a number of special powers, such as: determining the conditions and forms of realization of State assets (tender, auction, exchange)as well as, if necessary, other forms, methods, terms and conditions from the generally accepted order in accordance with the proposal of the State Assets Management Agency; Implementation by means of other forms and methods of the general privatization procedure, with the registration of contracts for the purchase and sale of state shares in the authorized capitals of companies outside the trading platforms of securities traders.
3. The State Commission for the Privatization of State Assets and Coordination of Privatization Processes has also been given special powers to approve the conditions and criteria for attracting financial consultants, experts and technical specialists necessary for the successful realization of public assets. In particular, the State Commission has the right to conclude contracts with consultants and experts without undergoing mandatory in such cases, examination of drafts of such contracts in the Center for Comprehensive Expertise of Projects and Import Contracts.
4. The State Commission, despite the provisions of the Law on Limited and Additional Liability Companies, has the right to make decisions on putting up for public auction without exercising the pre-emptive right of the company's participants to purchase at a cost equal to a proportional share of net assets (at nominal value, if net assets are less than authorized capital), if the proportional value of the net assets of enterprises in relation to state blocks of shares (shares) does not exceed 100 million soums.