The new version of the Law of the Republic of Uzbekistan «On the Securities Market» was adopted by the Legislative Chamber on October 24 last year and approved by the Senate on May 15, was signed by the President on June 3, 2015.

This law will contribute to improving the investment climate and business environment in the securities market, the quality of services in the stock market.

Закон Республики Узбекистан «О рынке ценных бумаг» в новой редакции принят Законодательной палатой 24 октября прошлого года и одобрен Сенатом 15 мая, был подписан Президентом 3 июня 2015 года.
Данный закон будет способствовать улучшению инвестиционного климата и деловой среды на рынке ценных бумаг, качества услуг на фондовом рынке.

Депутаты Законодательной палаты Олий Мажлиса Узбекистана обсуждают проект новой редакции Таможенного кодекса. Действующий ТК, принятый в 1997 году, а также закон «О таможенном тарифе» уже не учитывают реалии сегодняшнего дня. Для реализации их положений было принято более 350 подзаконных актов, как сообщает gazeta.uz
В новой редакции ТК подробно регламентирует порядок перемещения товаров физическими лицами. Расширяются возможности устного декларирования ими товаров, которое производится путем совершения действий, свидетельствующих о том, что в ручной клади и сопровождаемом багаже не содержатся товары, подлежащие декларированию в письменной форме. Тем самым законодательно закрепляется система «зеленого и красного коридоров» для физических лиц.
Регламентируется механизм, в соответствии с которым любое заинтересованное лицо еще до ввоза товара может обратиться с запросом в таможенные органы за предварительным решением относительно его классификации согласно ТН ВЭД, что значительно облегчит прохождение таможенных процедур при декларировании и оформлении.
В проекте предусматривается сокращение количества документов, представляемых таможенным органам при осуществлении таможенного оформления: отменено заполнение декларации таможенной стоимости при экспорте товаров, освобождаемых от уплаты таможенных пошлин и налогов, сокращено количество документов для получения разрешения на помещение товаров под таможенный режим реэкспорта и реимпорта.

Deputies of the Legislative Chamber of the Oliy Majlis of Uzbekistan are discussing a draft of a new edition of the Customs Code. The current TC, adopted in 1997, as well as the law «On Customs Tariff» no longer take into account the realities of today. To implement their provisions, more than 350 by-laws were adopted, as reported by gazeta.uz

In the new edition of the TC, the procedure for the movement of goods by individuals is regulated in detail. The opportunities for oral declaring of goods by them are being expanded, which is performed by performing actions indicating that hand luggage and accompanying luggage do not contain goods subject to declaration in writing. Thus, the system of «green and red corridors» for individuals is legislatively fixed.

The mechanism is regulated, according to which any interested person, even before the import of the goods, can apply to the customs authorities for a preliminary decision regarding its classification according to the HS VED, which will greatly facilitate the passage of customs procedures when declaring and issuing.

The draft provides for a reduction in the number of documents submitted to customs authorities in the course of customs clearance: the declaration of customs value was abolished when exporting goods exempted from customs duties and taxes, the number of documents for obtaining permission to place goods under the customs regime of re-export and re-import was reduced.

President of Uzbekistan Islam Karimov signed the law «On e-commerce» on May 22 in a new edition, adopted by the Legislative Chamber of the Oliy Majlis on April 17 and approved by the Senate on May 15. The law came into force on May 23. The previous law was in force since 2004, Gazeta.uz reports.

The law provides an updated definition of the concept of «electronic commerce» and other terms and includes a number of new articles, in particular, an article regulating the use of personal data in e-commerce.

E-commerce refers to «the purchase and sale of goods (works, services) carried out in accordance with the contract concluded with the use of information systems.»

The basic principles of electronic commerce, according to the law, are the freedom to carry out business activities, the voluntariness of contracting, the equality of participation conditions, and the protection of the rights and legitimate interests of e-commerce participants.

In accordance with the law, electronic documents, as well as information recorded in electronic form, allowing to identify its sender (electronic messages) in e-commerce are equated with documents on paper, signed with their own hands, and can be used as evidence of transactions.

The contract in e-commerce cannot be invalidated only on the grounds that it is concluded using information systems.

The offer in e-commerce is formed in the form of an electronic document, and the e-commerce participant’s response to acceptance of an offer (acceptance) can be carried out in the form of an electronic document or an electronic message or by performing actions to fulfill the conditions contained in the offer.

The law specifies that the seller of goods (work, services) in e-commerce may be a legal entity or an individual entrepreneur.

It is separately emphasized that participation in e-commerce cannot be the basis for establishing requirements or restrictions for its participant in terms of the business activities carried out without the use of information systems, unless otherwise provided by law.
The new version of the law prescribes the rights and obligations of participants (sellers and buyers) of e-commerce and information intermediaries. Sellers of goods (works, services) are obliged to comply with the legislation on competition and consumer protection, ensure the storage of electronic documents and electronic messages in accordance with the law, as well as comply with standards, rules and regulations in the field of e-commerce.

The law significantly expanded the concept of «information intermediaries» — they include operators and providers of telecommunications networks that provide services for the circulation of electronic documents and e-mails of e-commerce participants, banks that provide services to provide access to payment systems and conduct payments of participants in e-commerce , legal entities that organize electronic fairs, auctions and competitions, as well as legal entities that provide services for the storage of electronic documents and electronic information scheny participants of e-commerce.

The contract in e-commerce can be concluded by accepting an electronic document, an electronic message or by performing actions to fulfill the conditions contained in the offer. The contract is recognized as signed at the time the participant receives e-commerce, which sent the offer, its acceptance.

Documents related to the execution of the contract in e-commerce can be issued in the form of an electronic document or on paper.

The requirements to the contents of the offer in electronic commerce are expanded. It should contain the full name, postal and electronic address of the e-commerce participant making the offer, terms of delivery and payment for goods (works, services), as well as the proposed prices (tariffs) for them, and in cases provided for by law — information on the availability of a license or a permit document

A separate article of the law is devoted to the use of personal data in e-commerce. The law prohibits the use of personal data for purposes other than the purpose of the contract in e-commerce, and their transfer to third parties, unless otherwise provided by agreement of the parties and (or) legislation. It is not allowed to use personal data without the consent of their owner for the distribution of the offer and (or) advertising, including by mass sending electronic documents or electronic messages.

In addition, the law determines the main directions of state policy in the field of electronic commerce. Among them, in particular, support and stimulation of entrepreneurial activity, carried out through e-commerce, creation of conditions for attracting to the sphere of entrepreneurship, carried out through e-commerce, investments, modern technologies and equipment, as well as stimulation of scientific and technical research, preparation and advanced training of personnel.