Legal changes in the legislation of Azerbaijan
The Law on Amendments to the Law of the Republic of Azerbaijan on “Suspension of inspections in the field of entrepreneurship” dated 20 October 2015 was adopted on 1 February 2022. As per this Law on Amendments, the suspension of inspections in the entrepreneurship field in the Republic of Azerbaijan has been extended for another year until 1 January 2023.
Zhandarbek Ramazan, Counsel of GRATA International spoke at the working group on legal issues
On May 4, 2022, an online meeting of the working group on legal issues of CCI France-Kazakhstan was held, where Zhandarbek Ramazan, Counsel of GRATA International spoke on the topic: "Novelty, introduction of the Administrative Procedure Code and six months' results".
The Law on non-banking credit organizations and microfinance activities has been adopted in Uzbekistan
On April 20, 2021, the President signed the Law of the Republic of Uzbekistan “On non-banking credit organizations and microfinance activities” No.ЗРУ-765 (the “Law No.ЗРУ-765”). The purpose of Law No.ЗРУ-765 is to regulate relations in the field of activities of non-banking credit organizations and microfinance activities.
Uzbekistan takes measures to support the capital market
Resolution of the President “On additional measures to introduce effective mechanisms to support the capital market” No.ПП-90 dated January 17, 2022 (the “Resolution No.ПП-90”) establishes that from April 1, 2022 to December 31, 2024
Uzbekistan introduces a new procedure for determining the customs value of imported products
The Cabinet of Ministers of the Republic of Uzbekistan approved the Regulation on the procedure for determining the customs value of goods imported into the customs territory of the Republic of Uzbekistan by Resolution No.160 dated April 6, 2022 (the “Regulation”). Resolution No.160 was adopted in accordance with Decree of the President “On measures to further improve the activities of justice bodies and institutions in the implementation of state legal policy” No.УП-5997 dated May 19, 2020.
The law on insolvency has been adopted in Uzbekistan
In Uzbekistan, on April 13, 2022, a new law “On insolvency” No. ZRU-763 dated April 12, 2022 (the “Law on insolvency”) came into force. The Law on insolvency regulates the insolvency of legal entities and individuals, as well as individual entrepreneurs, but does not apply to government agencies and other non-profit organizations.