Tashkent, Uzbekistan (UzDaily.com) -- A regular meeting of the Senate Committee on Budget and Economic Reforms was held, at which the Law "On amendments and amendments to some legislative acts of the Republic of Uzbekistan aimed at ensuring the inviolability of funds in bank accounts of entrepreneurs" was held.

During the meeting, it was noted that today a number of legislative acts are being adopted in the country aimed at protecting the rights and interests of entrepreneurs by solving their concerns, and this Law is a logical continuation of work in this direction.

In particular, the Law establishes measures of administrative and criminal liability in the Code of Administrative Liability and the Criminal Code of the Republic of Uzbekistan for the illegal transfer or withdrawal of funds from the bank accounts of business entities or the untimely return of excessively collected funds.

The law includes an additional article to the Code of Administrative Liability, which provides for the imposition of a fine on the perpetrator in the amount of 20 to 40 basic settlement units (from 6.6 million soums to 13.2 million soums) for the illegal transfer or withdrawal of funds from the bank accounts of entities entrepreneurship or untimely return of excessively collected funds.

The law also includes an additional article in the Criminal Code for the illegal transfer or withdrawal of funds of business entities or their untimely return. So, if such actions are committed even after the application of an administrative penalty, a fine in the amount of 200 to 300 basic settlement units is imposed, a punishment in the form of imprisonment for up to 7 years, depending on the category of the crime committed.

The law was preliminary considered at the meeting of the Committee, and it was noted that its adoption serves to strengthen legal measures to protect the legitimate interests of business entities and increase the effectiveness of protecting the inviolability of their property rights.