On July 3, the President of Uzbekistan signed the new version of the Law "On competition".

According to the law, the Committee for Developing Competition and Protection of Consumer Rights is the competent state body (anti-monopoly body) in the field of competition.

The concept of anti-monopoly compliance was introduced into the law. Anti-monopoly compliance consists of a system of internal organizational procedures for ensuring the compliance of activities with the requirements of the competition law, identifying the risks of their violation and preventing these risks.

Requirements for anti-restriction of competition in sales and prohibitions on participation of related parties in simultaneous sales processes are established.

According to the law, it is necessary to introduce a system of assessment of state aid, which may have a negative impact on the competitive environment among business entities.

Due to the new law, there is also an opportunity to regulate digital platforms against monopoly.

At the same time, changes were made to the Administrative Responsibility Code, and administrative liability for violations of competition legislation was strengthened.

Adopting decisions restricting competition by state unitary enterprises or institutions or associations of legal entities authorized to carry out licensing of certain types of activity, issuing documents with the nature of permission or receive notifications by means of a special electronic system, or carrying out registration or accreditation:

• cause a fine in the amount of 30 to 50 BCAs (from 9 million 900 thousand to 16 million 500 thousand soums).

Previously, such norms did not exist.

The law will enter into force 3 months after its official publication.

It should be recalled that the law was approved by the Senate 4 months ago - on March 2.