Tashkent, Uzbekistan, July 25
By Demir Azizov- Trend:
The Legislative Chamber of Oliy Majlis of Uzbekistan adopted the draft law "On exchanges and exchange activities" in the new edition, according to the report of lower house of the Uzbek parliament.
Updating of the law is due to the intention to harmonize the legislation of Uzbekistan with the legislation which regulates the world's leading stock exchanges, and aims at creating conditions for the integration of the domestic market to the world exchange market.
The revised law includes the notion of quotation, quoted price, quotes, market manipulation on the exchange, insider information and insider transactions, bilateral quotes and other concepts that were not previously used in the Uzbek legislation.
It is expected that the adoption of this document will create the conditions for a common legal practice in matters of exchange activities and exchanges, to gain balance of interests among exchange market participants, shareholders and the state.
In accordance with established procedures, the law "On exchanges and exchange activities" in the new edition is sent for further consideration in the upper house of parliament - the Senate.
Edited by CN