22.01.2019

President divides the State Committee on Competition into three bodies

On 14 January, President of Uzbekistan Shavkat Mirziyoyev signed a decree “On measures to fundamentally improve the system of state assets management, antitrust regulation and the capital market”.

According to the decree, the State Assets Management Agency, the Antimonopoly Committee and the Capital Market Development Agency were created on the basis of the State Committee on Competition and the Securities Market Coordination and Development Center and the Center for State Assets Management (TSUGA), as well as other subordinate bodies.

The decree defines the main tasks of the three new government agencies. At the same time, the organization of a set of measures to attract investments through the issuance and sale of bonds and shares of enterprises with state participation, including the placement of an issue through IPO / SPO, is one of the tasks of the Agency for managing state assets.

The main tasks of the Agency for Capital Market Development are implementation of a single state policy in the field of formation, development and regulation of the securities market and corporate governance, protection of the rights and legitimate interests of investors operating in securities transactions, as well as securities owners, and monitoring compliance with laws on the securities market, legislation on joint-stock companies, etc.

The antimonopoly committee will exercise antitrust regulation, develop a competitive environment, control over the activities of natural monopolies, licensing commodity exchanges, protecting consumer rights and regulating the advertising market.