Organizational and legal forms of legal entities to be reduced

In Uzbekistan, the organizational and legal forms of legal entities will be optimized. This was stated in the decree “On Measures to Improve the Civil Laws of the Republic of Uzbekistan”, signed by the President.

The order states that the Civil Code, adopted in the mid-1990s, is already outdated and does not meet modern requirements. In particular, it preserved the organizational and legal forms of legal entities that no longer exist in developed countries. At the same time, there are no such classical civil law institutions as “commercial risk”, “fair compensation” and others.

In addition, there are unreasonably many organizational and legal forms in the country, which are not much different from each other and consist of a mixture of rules from other forms. For example, a private enterprise and a unitary enterprise cannot attract investments as the legislation does not allow the entry of new participants into such forms.

Therefore, organizational and legal forms of legal entities, as well as those that are not widely used in market relations, will be identified and abolished.