Legislation eases sanctions for small economic impact violations of Competition Law
If the economic impact is minimal, a warning will be issued instead of a fine.
On September 4, Shavkat Mirziyoyev signed a law aimed at improving the work of the Competition Promotion and Сonsumer Protection Committee.
From now on, the Committee must approve regulatory legal acts related to providing state assistance to businesses. Previously, this requirement only applied to documents concerning competition in the goods and financial markets.
In addition, the responsibility for violations of competition laws is being softened. If a business entity commits a violation for the first time with a low economic impact, financial sanctions will not be applied.
In such cases, the violator will receive a warning from the Committee and must comply with an order (recommendation, decision) to correct the violations. Cases of violations with minimal economic impact will be determined by the Cabinet of Ministers.
The amendments, which include the liberalization of responsibility for violations of antitrust laws, were passed by the Legislative Chamber in March. On May 18, the Senate approved the draft law.
Recommended
List of streets and intersections being repaired in Tashkent published
SOCIETY | 19:12 / 16.05.2024
Uzbekistan's flag flies high on Oceania's tallest volcano
SOCIETY | 17:54 / 15.05.2024
New tariffs to be introduced in Tashkent public transport
SOCIETY | 14:55 / 05.05.2023
Onix and Tracker cars withdrawn from sale
BUSINESS | 10:20 / 05.05.2023
Latest news
-
Gov’t introduces new measures to support low-income families through subsidies and employment initiatives
SOCIETY | 19:17
-
Surkhandarya governor allocates 661 million UZS to reward local officials for Homeland Defenders Day
POLITICS | 19:15
-
Legislators pass bill aimed at preventing torture
SOCIETY | 19:14
-
Presidential decree targets employment and income growth for 5.2 million people in 2025
SOCIETY | 19:13
Related News
19:14
Legislators pass bill aimed at preventing torture
19:12
Five officials fined for violating transparency regulations
12:13 / 14.01.2025
"Under pressure and without legal protection": Why Komil Allamjonov's employees were detained for 15 days
13:18 / 13.01.2025