The Rules of membership of the Chamber of Commerce and Industry of business entities and individual entrepreneurs engaged in the production of precious metals change in Uzbekistan.
Some new rules are to be introduced in the Uzbekistan Law that will affect business entities planning to join the Chamber of Commerce and Industry, and individual entrepreneurs engaged in precious metals production, as of February 1, 2023, in Uzbekistan.
Some business entities are exempt from paying TIC (Trade-Industrial Chamber) fees that are given the right to use the services of the chamber fully excluding additional charged services provided by the Trade-Industrial Chamber. Micro, small; and medium-sized businesses will be accepted to the TIC membership without paying fees.
Attorney’s orders will become electronic and “Electronic Warrant for a Lawyer” with a QR-code, equal to the status of a warrant of a traditional form for a solicitation will be issued by advocacy structures.
Individual entrepreneurs selling precious metals will be provided a bank guarantee. As well as upon sale of precious metals through the commodity exchange with indulgence they will be allowed to:
- provide payment obligations for the precious metals purchased along with the warrant of JSC “Uzmillibank”, as well as the guarantees of other banks and the guarantor of the Agency of Export Marketing Activities;
- provide a bank guarantee to individual entrepreneurs engaged in jewellery production;
- set the fixed amount of bank guarantee payment at a price mutually agreed by the parties;
These are an overview of the main changes in the National Legislation of Uzbekistan to come into force on February 1, 2023.
