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Supplement to law on interference in activities of economic entities enters into force in Uzbekistan

Business Materials 12 September 2012 19:14 (UTC +04:00)

Uzbekistan, Tashkent, Sept. 12 / Trend D.Azizov /

Uzbek President Islam Karimov signed a law to supplement the Criminal Code and the Code of Administrative Liability with supplements providing increased responsibility for illegal interference in the activities of economic entities.

In particular, the Code of Administrative Liability is supplemented by Article "Unlawful interference with economic entities" under which illegal interference is intentional initiating and conducting audits, suspension of business entities and operations on bank accounts by officer or other person using his official position, not vested with such powers by laws. In addition, the list of illegal intervention included reclamation by official of information on the availability of funds in the accounts of business entities in cases not provided for by law.

Imposition of a fine on citizens in the amount of two to five times the minimum wage (MW), and the officials - from 15 to 50 MW is provided for these violations.

The Criminal Code is supplemented with an article of the same name, under which illegal interference in the activity of the entity, committed after the administrative penalty for the same actions, shall be punished by a fine of 150 to 300 minimum wages, or deprivation of certain right up to three years, or correctional labor for up to three years.

The same act committed with big damage, repeatedly or by a dangerous recidivist or on preliminary arrangement by group of persons shall be punished by a fine of 300 to 500 minimum wages, or imprisonment up to three years with deprivation of certain rights.

For the same acts committed with causing especially large damage in the interests of an organized group or a responsible official, there is a penalty of 500 to 600 times the minimum wage or imprisonment from three to five years with deprivation of certain rights.

Currently MW in Uzbekistan is 72,355 soums.

The law was passed by the Legislative (lower) Chamber of the Uzbek parliament in July, has been approved by the upper house - the Senate in late August. According to the final article of the law, published in the media on Wednesday, it shall come into force from today.

The official exchange rate is 1930.25 soums to $1 on Sept. 12.

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