January 14, 2021
Changes in Economic Procedural Code
A number of changes have been made to the Economic Procedural Code. Economic courts can consider cases on investment disputes and competition.
According to the amendments to the Economic Procedural Code, investment dispute cases include:
- disputes related to the conclusion, modification and termination of investment agreements;
- disputes on invalidation of investment agreements;
- disputes related to the performance of the investment agreement;
- disputes related to the investor’s performance of tax, customs, social, environmental and other obligations arising from an investment agreement;
- disputes related to the reclamation of property provided to the investor under an investment agreement, or the recovery of forfeit and (or) losses under such an agreement.
Competition cases include disputes between legal entities, including foreign ones, economic management bodies, individual entrepreneurs and the antimonopoly body arising from relations in the field of competition in commodity and financial markets.
According to the adopted amendments, The Commissioner for Protection of Rights and Legitimate Interests of Entrepreneurs under the President of the Republic of Uzbekistan (business ombudsman) has the right to file an appeal against the decision of the court of first instance, which has not entered into legal force, with the exception of economic disputes arising between business entities, as well as disputes not related to business activities.