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The followings constitute the main tasks of the State Competition Committee:

  • elaboration and implementation of the systemic measures on intensification of privatization processes, sales into the private ownership of the state-owned assets and stocks’ packages (shares) in the Charter Funds of the economic entities, application of the new forms and methods of divestment of government property providing openness and transparency of sales of state-owned property to private owners, monitoring over fulfillment of investment obligations undertaken by investors;
  • realization on systematic basis of the measures aimed at development of the securities’ market, especially the secondary one, first place at the expense of stimulation of rise of capitalization and profitability of stockholder societies, wide information awareness of entrepreneurs and population, providing their active participation in the stock exchange operations, further perfection of the market infrastructure, complete transition into the electronic form of the sales’ conduct;
  • further improvement of the system of corporate governance aimed at the radical rise of role of shareholders and supervisory boards in management of stockholder companies, providing protection of minority shareholders’ rights, strengthening the responsibility of executional bodies before the shareholders for the results of financial and economic activity of enterprises;
  • implementation of measures on the effective antimonopoly regulation and prevention of restraints of competition in the commodity and financial markets, performance of control over observance of legislation on limitations for monopolistic activity and natural monopolies;
  • realization of measures on further perfection of legislation and formation of necessary conditions for development of competition environment, prevention of unfair competition in the markets of goods (works, services), first place in the domestic consumers’ market and at sphere of advertisement, providing, in close coordination with social structures, the protection of the consumers’ legal interests and rights;
  • conduct of deep analysis on the financial and economic status of the low-profitable and unprofitable enterprises, elaboration and implementation of complex measures on their financial rehabilitation, first place at the expense of attraction of new investors, modernization and technological re-equipment, reduction of production costs and expenditure,  launching the manufacture of new competitive products;
  • carrying out the functions on restructuring and bankruptcy of the economically unsustainable enterprises, implementation of steps on conduct of pre-trial and trial sanitation, external management of the bankrupt enterprises.
Госкомконкуренции в соответствии с возложенными на него задачами, выполняет следующие функции:
 

The followings constitute the main tasks of the State Competition Committee:

  • elaboration and implementation of the systemic measures on intensification of privatization processes, sales into the private ownership of the state-owned assets and stocks’ packages (shares) in the Charter Funds of the economic entities, application of the new forms and methods of divestment of government property providing openness and transparency of sales of state-owned property to private owners, monitoring over fulfillment of investment obligations undertaken by investors;
  • realization on systematic basis of the measures aimed at development of the securities’ market, especially the secondary one, first place at the expense of stimulation of rise of capitalization and profitability of stockholder societies, wide information awareness of entrepreneurs and population, providing their active participation in the stock exchange operations, further perfection of the market infrastructure, complete transition into the electronic form of the sales’ conduct;
  • further improvement of the system of corporate governance aimed at the radical rise of role of shareholders and supervisory boards in management of stockholder companies, providing protection of minority shareholders’ rights, strengthening the responsibility of executional bodies before the shareholders for the results of financial and economic activity of enterprises;
  • implementation of measures on the effective antimonopoly regulation and prevention of restraints of competition in the commodity and financial markets, performance of control over observance of legislation on limitations for monopolistic activity and natural monopolies;
  • realization of measures on further perfection of legislation and formation of necessary conditions for development of competition environment, prevention of unfair competition in the markets of goods (works, services), first place in the domestic consumers’ market and at sphere of advertisement, providing, in close coordination with social structures, the protection of the consumers’ legal interests and rights;
  • conduct of deep analysis on the financial and economic status of the low-profitable and unprofitable enterprises, elaboration and implementation of complex measures on their financial rehabilitation, first place at the expense of attraction of new investors, modernization and technological re-equipment, reduction of production costs and expenditure,  launching the manufacture of new competitive products;
  • carrying out the functions on restructuring and bankruptcy of the economically unsustainable enterprises, implementation of steps on conduct of pre-trial and trial sanitation, external management of the bankrupt enterprises.
Госкомконкуренции в соответствии с возложенными на него задачами, выполняет следующие функции:

а) at sphere of Pre-sale Preparation and Sale of Assets subject to Privatization, monitoring over fulfillment of Investment Obligations undertaken by Investors:

  • provides reduction of the State’s participation at non-strategic enterprises;
  • with involvement of concerned state bodies and economic associations, elaborates and presents to the Cabinet of Ministers of the Republic of Uzbekistan drafts of the State Privatization Programs and provides their implementation;
  • performs pre-sale reparation of the assets subject to privatization and determines the agreement terms of privatization including the enterprises belonging to the core industries of economy, facilities subject to sale at a “zero” purchase price in return for the concrete investment obligations;
  • provides publicity and transparency of decisions made on assets and facilities, terms and forms privatization, dissemination of information on issuer enterprises subject to privatization, securities issued by them, as well as performance of information and advertising work with the aim of attraction of domestic and foreign investors;    
  • performs functions of a seller of assets and facilities subject to privatization, determines their initial sale price, investment volumes, types and terms of sales, also sells state-owned securities at domestic and international markets, on the exchange and over-the-counter securities’ sales, independently or through domestic and foreign investment mediators attracted on an agreement basis;
  • exercises monitoring over the in-time and complete fulfillment of deals concluded by the State Competition Committee on sale-purchase of assets and facilities subject to privatization, including fulfillment of investment obligations undertaken by investors;  
  • issues to new owners  orders (certificates) confirming their ownership rights for privatized facilities, also presents to buyers’ servicing depositaries the deposit-order for transfer (deblocking) of shares purchased by them;
  • analyses processes connected with privatization and composes proposals on application of new forms and methods of privatization which provide publicity and transparency of sales of assets and facilities subject to privatization to private owners, as well as those aimed at perfection of  legal norms regulating property interrelations.

b) at sphere of Development of the Securities’ Market and Corporate Governance:

  • undertakes measures aimed at development of the securities’ market, as well as providing observance of principles of exchange sales of securities;
  • assists in application of new kinds of financial tools including derivative securities, allowing to attract resources necessary for financing the investment projects; 
  • together with the state governance institutions concerned implements measures of the state’s support for processes of formation and functioning of the securities’ market as well as creation of the necessary environment and infrastructure for the development of that market; 
  • presents to the Cabinet of Ministers of the Republic of Uzbekistan proposals aimed at intensification of the citizens’ and foreign investors’’ activity in the securities’ market, including those on stimulation of investment and professional activity, perfection of conditions for making collective investments in the securities’ market;
  • performs measures on implementation of international practices related to securities market’s functioning, aimed at complete transfer into electronic form of conducting sales and settlement of accounts related to securities;  
  • analyses processes connected with perfection of the corporate governance system and forms proposals aimed at improvement of the norms regulating the corporate interrelations;
  • elaborate on basis of international principles and rules recommendations on perfection of corporate governance at the economic societies including ways of improving their organizational structure;
  • arranges the regular hearings at the Cabinet of Ministers of the reports on implementation of qualitative corporate governance systems to be made by heads of executive bodies and supervisory counsels of the state joint-stock companies and other economic societies with presence of state-owned share at their Charter Funds and possessing strategic significance for the Republic’s economy; 
  • coordinates and performs monitoring over the activities of the State Unitary Enterprise  (SUE) “Center on Management of the State’s Assets” on matters concerning the effective management of the state-owned assets and the Center of Coordination and Development of the Securities’ Market on matters concerning the development of corporate governance and securities’ market, also provides their effective interaction;
  • issues manuals on corporate governance reflecting the practical topics concerning activities of governance bodies and control system at stockholder societies, also assists in forming the educational support for investors and participants of securities’ market;
  • assists in developing the international relations at spheres of corporate governance and regulating the securities’ market in ways of arrangement of the effective bilateral and multilateral interaction within the framework of international organizations.

c) at sphere of Disposal of the State-owned Facilities including their Inventory, Registration and Effective Management:

  • acts on behalf of the Republic of Uzbekistan as a founder of the state enterprises and institutions as well as economic societies being created in process of privatization of the state-owned enterprises and institutions;
  • exercises in accordance with legislation on behalf of the Republic of Uzbekistan the rights of a shareholder (a participant) at economic entities referred to a state-owned stocks’ package (a share), also transfers those rights to trust managers and other entities;
  • presents for approval by the Commission on Monitoring over the Effective Usage of the State-owned Shares at Stockholder Unions and Companies the List of Stocks’ Packages (Shares) of the Economic Societies to be placed under the management by the SUE “Center on Management of the State’s Assets”;
  • performs inventory and registration of the state-owned real property, state enterprises and institutions, economic societies with presence of the state-owned share at their Charter Funds, including those located abroad, at which the Cabinet of Ministers of the Republic of Uzbekistan and other State Bodies act on behalf of the State (except the property, registration of which is carried on by the according authorized state bodies in order foreseen by legislation); 
  • contributes the state-owned stock packages (shares) and other property into the Charter Funds of being created and acting economic societies in order foreseen by legislation;  
  • acts as a Lessor of the property being at State Ownership except the cases when the right to exercise those prerogatives have been delegated to other State Bodies and Organizations;
  • performs harmonization in process of creation by State Governance Bodies and local State Authority Bodies of the State Enterprises in parts concerning the transfer of State-owned Property to the State Enterprises;  
  • coordinates interaction among the State Bodies on matters concerning Management of State-owned Property in accordance with the order established by the Cabinet of Ministers of the Republic of Uzbekistan;
  • presents for consideration and approval by the Commission on Monitoring over the Effective Usage of the State-owned Shares at Stockholder Unions and Companies proposals on the List of the Economic Societies possessing strategic significance for the Republic’s economy;
  • presents for consideration by the Commission on Monitoring over the Effective Usage of the State-owned Shares at Stockholder Unions and Companies proposals on the assignment and dismissal of the State Trustees and Trust Managers of Investment Assets for management of State-owned Shares at Economic Societies as well as the State Representatives exercising the special right of the State’s participation at management of Stockholder companies (“the Golden Share”);  
  • provides conclusion of the Agreements on Trust Management of the State-owned Shares at Economic Societies with the State Trustees and Trust Managers of Investment Assets and, in cases foreseen by legislations, with other legal entities;
  • provides performance of monitoring over activities of the State Trustees and Trust Managers of Investment Assets, gives them instructions on the order of voting in General Shareholders’ (Founders’) Meetings and meetings of Supervisory Boards, also establishes the order of their remuneration;
  • performs analysis of financial and economic activity of the Economic Societies with presence of State-owned Share at their Charter Funds and, in cases of systematic non-fulfillment of main parameters of a Society’s Business Plan initiates changes in membership of the Executive Body of that Society.

d) at sphere of Antimonopoly Regulation, Development of Competition Environment and Control over Activities of Entities of the Natural Monopoly:

  • elaborates proposals on further perfection of antimonopoly regulation, development of competition, presents it to the Cabinet of Ministers of the Republic of Uzbekistan, other State and Economic Management Bodies;
  • establishes and suppresses anticompetitive actions and unfounded rise in prices (tariffs) subject to regulation;
  • carries out the studies on status of the competition environment in commodity and financial markets, detects dominant position of an economic entity or a group of entities, defines membership of the entities’ group;
  • forms and keeps the State Registers of Economic Entities occupying the dominant position in a commodity or a financial market and entities of the natural monopoly;
  • performs control over observance of legislative requirements on competition at creation, merger and takeover of economic entities, at purchase of stocks (shares) at a Charter Fund (Charter Capital) of economic entities as well as observance of legislative requirements on natural monopolies at creation, reorganization and liquidation of entities of the natural monopoly;
  • performs analysis of prices and tariffs for goods (works, services) delivered by entities of the natural monopoly;
  • performs control over observance of prices (tariffs) subject to regulation and extra charges for goods (works, services);
  • performs, in the order established by legislation, inspections of activity of entities of the natural monopoly and Economic Entities occupying the dominant position in view of validity of presented calculations at forming the declared (approved) prices;
  • keeps and publishes the Register of Economic Entities and State Bodies who violated the legislation on competition;
  • carries out control over formation of the starting prices at capital construction performed at the expense of the centralized sources; 
  • within the limits of its prerogatives, provides protection of Economic Entities from unfair competitors and unlawful decisions issued by Sate Bodies, their officials’ actions (inaction) violating the legislation on competition;
  • within the limits of its prerogatives, controls execution by Sate Bodies and Economic Entities, occupying dominant position, of legislative and other acts on providing access of economic Entities into commodity and financial markets;
  • adopts, in the order established by legislation, decisions on placing onto the Exchange Sales the high-liquidity and monopolistic kinds of products;
  • performs, in the order established by legislation, control over placing onto the Exchange Sales the high-liquidity and monopolistic kinds of products;
  • performs, in the order established by legislation, control over observance of the legislation on competition at conducting the Competition (Tender) and Exchange Sales;
  • performs, control over observance of the order established for sales by entities of the natural monopoly of their goods (services) and presents proposals on defining the List of Consumers Subject to Compulsory Service; 
  • elaborates proposals on reduction of costs for goods (works, services) delivered by Economic Entities occupying dominant position and natural monopolies;
  • defines the facts of unfair competition connected with acquisition of exclusive rights for means of individualization of a legal entity and means of individualization (ascertainment) of a commodity.

е) protection of the Consumers’ Rights and Regulation of the Advertising Activity:

  • performs, in the order established by legislation, control observance of the legislation on protection of the consumers’ rights and advertising;
  • conducts monitoring over prices for consumer goods and tariffs for services, undertakes measures aimed at prevention of appearance of the sub-quality consumer goods and services in markets;
  • together with social structures performs the state protection of the consumers’ rights and interests as well as educational works aimed at rise of consumer culture of population;
  • undertakes measures on regulation of the advertising market with the aim not to allow unfair competition at sphere of advertising and prevention of unauthentic advertisement;
  • together with the State Bodies coordinates elaboration and implementation of measures aimed at protection of the consumers’ rights and prevention of the unfair competition at sphere of advertising.

f) at sphere of performance of State Regulation of Issues concerning Bankruptcy, Restructuring of Economically Unsustainable Enterprises and Control over the Activity of Court Managers:

  • performs monitoring and analysis of the financial state of enterprises with State-owned Shares in their Charter Funds, including the way of conduct of the database, with the aim of detection of insolvent, unprofitable and economically unsustainable enterprises, also elaborates and implements, together with the State Bodies concerned, the Complex Measures on their financial rehabilitation; 
  • adopts, on basis of proposals of the Bodies of State Governance and Economic Management, decisions on initiating the procedures of bankruptcy, restructuring and disaggregation of the economically unsustainable enterprises with State-owned Shares in their Charter Funds; 
  • arranges control over the course of bankruptcy procedures at the enterprises, also gets agreed plans of pre-court sanitation, the court sanitation and external management at the enterprises with State-owned Shares in their Charter Funds;
  • conducts in aspect of each bankrupt enterprise transferred (sold) to commercial banks, monitoring over fulfillment of the investment obligations on restoration of production activity, modernization, technical and technological re-equipment of the production;
  • provides protection of the creditors’ interests and the shareholders’ (founders’) property rights in course of procedures of bankruptcy or pre-court sanitation of the economically unsustainable enterprises;
  • adopts decisions on conduct, prolongation or preterm cessation of pre-court sanitation of the enterprises with State-owned Shares in their Charter Funds and (or) having debts before the Republic of Uzbekistan related to monetary obligations as well as decisions on pre-court sanitation;
  • considers issues and presents to the Cabinet of Ministers of the Republic of Uzbekistan proposals on suspension and sale of facilities unfinished by construction and main assets of economically unsustainable, unprofitable and low-profit enterprises being subject to restructuring as well as enterprises in respect of which the bankruptcy procedures have been applied;
  • arranges the court managers’ training system, conducts their attestation and keeps the single Register of the Court Managers, adopts decisions on issue, suspension and termination of the court managers’ certificates;
  • adopts decisions on prolongation and preterm cessation of the pre-court sanitation of enterprises which have received the State’s support;
  • presents to the Cabinet of Ministers proposals on providing the State’s support in forms foreseen by legislation during the period of restructuring, disaggregation, financial rehabilitation and pre-court sanitation of the unprofitable, unsolvable and economically unsustainable enterprises; 
  • hears the reports to be made by the Bodies of State and Economical Management, local State Authorities on implementation of the programs of restructuring, financial rehabilitation of the unprofitable and economically unsustainable enterprises;  
  • hears the reports to be made by external managers as well as heads of enterprises undergoing sanitation, which have received the State’s support or have the State-owned share;

g) at sphere of Licensing of Valuation, Exchange and Realtor Activities:

  • performs licensing of Valuation, Exchange and Realtor Activities;
  • establishes qualification requirements for Appraisers and Realtors, performs issue of Qualification Certificates to them; 
  • carries out control over observance of License Requirements and Terms by the Licensees;
  • keeps the Register of Licenses held by Exchanges, Valuation and Realtor Organizations and Realtors as well as Qualification Certificates issued to Appraisers and Realtors.

  h) at Other Spheres of Activity:

  • considers addresses, letters and appeals made by legal entities and natural persons on issues being within the limits of the competence of the State Competition Committee;
  • elaborates and improves the normative-legislative and methodological basis on issues being within the competence of the State Competition Committee;
  • undertakes within the limits of its competence necessary actions on elimination of violations of  legislation on issues being within the limits of the competence of the State Competition Committee;
  • detects and removes facts of red tape, procrastination and delaying with the time of solution of the issues being within the limits of the competence of the State Competition Committee;
  • provides arrangement of training and rise of professional skills of personnel, conducts attestation of managers and specialists of the State Competition Committee and structures subordinated to it;
  • carries out international cooperation and other functions it is charged with.
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