POLITICS | 18:50 / 25.04.2019
2 min read

Antimonopoly Committee proposes to introduce antitrust compliance in GM Uzbekistan and 9 more companies

Photo: GM Uzbekistan

The Antimonopoly Committee has developed a draft presidential decree, which states that in recent years more than 1,400 cases of anti-competitive actions have been identified.

In this regard, the task of organizing an effective system of preventing risks of violating competition law, raising corporate standards for doing business in good faith will be improved.

It is proposed to solve it by gradually introducing a system of internal compliance with the requirements of competition law (antitrust compliance):

from July 1, 2020, it is mandatory for government bodies, local government bodies and business entities, 50 or more percent of shares in the authorized capital of which belongs to the state;

from January 1, 2022, it is mandatory for legal entities affiliated with business entities, 50 or more percent of shares in the authorized capital owned by the state, as well as their subsidiaries.

As for private companies, implementation of the compliance will be recommended.

Those officials of state administration bodies, local government bodies and business entities that have implemented an antitrust compliance system are not brought to administrative responsibility in case of violation of competition law.

As a pilot, it is proposed to implement antitrust compliance until January 1, 2020 in 10 companies, including GM Uzbekistan, Almalyk MMC, Uztransgaz, Kvarts, Uzpakhtasanoat and others.

One can get acquainted with the project in detail, submit suggestions and comments to it until May 9.

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