On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Law of the Republic of Uzbekistan "On Insolvency"

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21.00.00.00 Comprehensive documents on amendments and additions / 21.01.00.00 Laws of the Republic of Uzbekistan]
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State and public structure / Legislative initiative. Norm-making activity] Send suggestions for the document Listen to audio Get a reference from a document element Send suggestions for the document Listen to audio Get a reference from a document element Law of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get a reference from a document element On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Law of the Republic of Uzbekistan "On Insolvency" Send suggestions for the document Listen to audio Get a reference from a document element Adopted by the Legislative Chamber on October 10, 2023

Approved by the Senate on December 20, 2023
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In recent years, consistent reforms have been carried out in our country to support business entities and protect their interests.
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As part of the reforms being implemented, the practice of financially strengthening business entities that have fallen into insolvency is being widely introduced by applying the procedures for restoring their solvency. In addition, the grounds for declaring natural persons insolvent and the consequences thereof have been established at the legislative level. Send comments on the document Listen to audio Get a reference from the document element At the same time, the adoption of the Law of the Republic of Uzbekistan "On Insolvency" created the need to bring the norms of existing legislative acts into conformity with its rules to ensure uniform application of its rules. Send comments on the document Listen to audio Get a reference from the document element This Law provides for amendments and additions to the laws and codes of the Republic of Uzbekistan clarifying the signs of insolvency of legal and natural persons, as well as the grounds for holding liable for violation of insolvency legislation. Send comments on the document Listen to audio Get a reference from the document element This Law serves to ensure the effective organization of the implementation of the Law of the Republic of Uzbekistan "On Insolvency" and to eliminate various interpretations and contradictions in the application of its legal rules. Send comments on the document Listen to audio Get a reference from the document element
Article 1.
The following amendments shall be made to the Criminal Code of the Republic of Uzbekistan, approved by Law No. 2012-XII of September 22, 1994 of the Republic of Uzbekistan (Bulletin of the Supreme Council of the Republic of Uzbekistan, 1995, No. 1, Article 3; Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1996, No. 9, Article 144; 1997, No. 2, Article 56, No. 9, Article 241; 1998, No. 5-6, Article 102, No. 9, Article 181; 1999, No. 1, Article 20, No. 5, Article 124, No. 9, Article 229; 2000, No. 5-6, Article 153; 2001, No. 1-2, Article 23, No. 9-10, Article 165; 2002, No. 9, Article 165; 2003, No. 1, Article 8, No. 9-10, Article 149; 2004, No. 1-2, Article 18, No. 9, Article 171; Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2005, No. 9, Article 314, No. 12, Articles 417, 418; 2006, No. 6, Article 261, No. 12, Article 656; 2007, No. 4, Articles 158, 166, No. 6, Article 248, No. 9, Articles 416, 422, No. 12, Article 607; 2008, No. 4, Articles 187, 188, 189, No. 7, Article 352, No. 9, Articles 485, 487, 488, No. 12, Articles 640, 641; 2009, No. 1, Article 1, No. 4, Article 128, No. 9, Articles 329, 334, 335, 337, No. 12, Article 470; 2010, No. 5, Articles 176, 179, No. 9, Article 341, No. 12, Articles 471, 477; 2011, No. 1, Article 1; 2012, No. 4, Article 108, No. 9/1, Article 242, No. 12, Article 336; 2013, No. 4, Article 98, No. 10, Article 263; 2014, No. 1, Article 2, No. 5, Article 130, No. 9, Article 244, No. 12, Article 343; 2015, No. 6, Article 228, No. 8, Articles 310, 312, No. 12, Article 452; 2016, No. 4, Article 125, No. 9, Article 276, No. 12, Articles 383, 385; 2017, No. 3, Article 47, No. 6, Article 300, No. 9, Articles 506, 510; 2018, No. 1, Article 4, No. 4, Articles 218, 224, No. 7, Article 430, No. 10, Article 679; 2019, No. 1, Articles 3, 5, No. 3, Article 161, No. 5, Articles 259, 267, 268, No. 7, Article 386, No. 8, Article 471, No. 9, Article 592, No. 11, Article 787, No. 12, Article 880; 2020, No. 1, Article 4, No. 3, Article 204, No. 7, Article 449, No. 10, Article 593, No. 11, Article 651, No. 12, Article 691; 2021, No. 1, Articles 5, 14, No. 2, Articles 142, 144, No. 3, Article 217, Annex to No. 4, No. 8, Articles 800, 803, No. 10, Articles 966, 968, 973, No. 12, Article 1193; 2022, No. 2, Article 81, No. 3, Articles 215, 216, No. 4, Article 337, No. 5, Articles 464, 466, No. 6, Article 575, No. 10, Article 981; 2023, No. 3, Articles 184, 185, 187, 188, No. 4, Article 265, No. 5, Article 319):
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1. In Part One of Article 661, the words "Article 180 (fake bankruptcy), Article 181 (concealment of bankruptcy)" shall be replaced with the words "Article 180 (fake insolvency), Article 181 (concealment of insolvency)";
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2. The title and the disposition of Part One of Article 180 shall be worded as follows:
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   "Article 180. Fake Insolvency
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   Fake insolvency, that is, the announcement by a legal or natural person or an individual entrepreneur that they are unable to fully fulfill their monetary obligations to creditors and (or) their obligations regarding taxes and fees, knowing that they are economically capable of fulfilling them, if it causes significant damage to creditors"; Send comments on the document Listen to audio Get a reference from the document element
3. The title and the disposition of Part One of Article 181 shall be worded as follows:
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   "Article 181. Concealment of Insolvency
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   If a legal or natural person or an individual entrepreneur causes significant damage to creditors by submitting false information and documents, distorting accounting reports, or otherwise intentionally concealing their insolvency"; Send comments on the document Listen to audio Get a reference from the document element
4. The title and the disposition of Part One of Article 1811 shall be worded as follows:
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   "Article 1811. Intentional Creation of Insolvency Send comments on the document Listen to audio Get a reference from the document element Intentional creation of insolvency, that is, the intentional occurrence or increase of insolvency, committed by a должностное лицо (official), founder (participant) of a legal entity, or owner of its property, or a natural person or individual entrepreneur, for personal interests or the interests of other persons, if it leads to the insolvency of such legal entity, natural person, or individual entrepreneur, and causes significant damage to creditors". Send comments on the document Listen to audio Get a reference from the document element
   Article 2.
   The following amendments shall be made to the Code of the Republic of Uzbekistan on Administrative Responsibility, approved by Law No. 2015-XII of September 22, 1994 (Bulletin of the Supreme Council of the Republic of Uzbekistan, 1995, No. 3, Article 6; Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1995, No. 9, Article 193, No. 12, Article 269; 1996, No. 5-6, Article 69, No. 9, Article 144; 1997, No. 2, Article 56, No. 4-5, Article 126, No. 9, Article 241; 1998, No. 3, Article 38, No. 5-6, Article 102, No. 9, Article 181; 1999, No. 1, Article 20, No. 5, Article 124, No. 9, Article 229; 2000, No. 5-6, Article 153, No. 7-8, Article 217; 2001, No. 1-2, Article 23, No. 9-10, Articles 165, 182; 2002, No. 1, Article 20, No. 9, Article 165; 2003, No. 1, Article 8, No. 5, Article 67, No. 9-10, Article 149; 2004, No. 1-2, Article 18, No. 5, Article 90, No. 9, Article 171; 2005, No. 1, Article 18; Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2005, No. 9, Article 312, No. 12, Articles 413, 417, 418; 2006, No. 6, Article 261, No. 9, Article 498, No. 10, Article 536, No. 12, Articles 656, 659; 2007, No. 4, Articles 158, 159, 164, 165, No. 9, Articles 416, 421, No. 12, Articles 596, 604, 607; 2008, No. 4, Articles 181, 189, 192, No. 9, Articles 486, 488, No. 12, Articles 640, 641; 2009, No. 1, Article 1, No. 9, Articles 334, 335, 337, No. 10, Article 380, No. 12, Articles 462, 468, 470, 472, 474; 2010, No. 5, Articles 175, 179, No. 6, Article 231, No. 9, Articles 335, 339, 341, No. 10, Article 380, No. 12, Articles 468, 473, 474; 2011, No. 1, Article 1, No. 4, Articles 104, 105, No. 9, Articles 247, 252, No. 12/2, Article 365; 2012, No. 4, Article 108, No. 9/1, Article 242, No. 12, Article 336; 2013, No. 4, Article 98, No. 10, Article 263; 2014, No. 1, Article 2, No. 5, Article 130, No. 9, Article 244, No. 12, Articles 341, 343; 2015, No. 6, Article 228, No. 8, Articles 310, 312, No. 12, Article 452; 2016, No. 1, Articles 2, No. 4, Article 125, No. 9, Article 276, No. 12, Articles 383, 385; 2017, No. 4, Article 137, No. 6, Article 300, No. 9, Article 510, No. 10, Article 605; 2018, No. 1, Articles 1, 4, 5, No. 4, Article 224, No. 7, Articles 430, 431, 432, No. 10, Articles 671, 673, 679; 2019, No. 1, Articles 1, 3, 5, No. 2, Article 47, No. 3, Articles 161, 165, 166, No. 5, Articles 259, 261, 267, 268, No. 7, Article 386, No. 8, Articles 469, 471, No. 9, Articles 591, 592, No. 10, Articles 674, 676, No. 11, Articles 787, 791, No. 12, Articles 880, 891; 2020, No. 1, Article 4, No. 3, Articles 203, 204, No. 7, Article 449, No. 9, Articles 539, 540, No. 10, Articles 593, 596, No. 11, Article 651, No. 12, Article 691; 2021, No. 1, Articles 5, 7, 12, 13, 14, No. 2, Article 142, No. 3, Article 217, No. 4, Articles 290, 293, Annex to No. 4, No. 8, Articles 800, 802, 803, No. 9, Article 903, No. 10, Articles 966, 967, 968, 973, No. 11, Article 1066; 2022, No. 1, Articles 1, 2, No. 2, Articles 80, 81, No. 3, Articles 215, 216,
   No. 4, Article 337, No. 5, Articles 464, 465, 466, 467, No. 8, Article 787, No. 10, Articles 981, 984, No. 12, Article 1188; 2023, No. 3, Articles 184, 185, 188, 189, No. 4, Articles 265, 266, 268, No. 5, Articles 319, 320, No. 7, Articles 533, 534, 535, 537, 539, No. 8, Article 634):
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5. Article 1795 shall be worded as follows:
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   "Article 1795. Intentional Creation of Insolvency Send comments on the document Listen to audio Get a reference from the document element Intentional creation of insolvency, that is, the intentional occurrence or increase of insolvency, committed by an official, founder (participant) of a legal entity, or owner of its property, or a natural person or individual entrepreneur, for personal interests or the interests of other persons, if it leads to the insolvency of such individual entrepreneur, legal entity, or natural person, and causes damage to creditors, — Send comments on the document Listen to audio Get a reference from the document element shall entail the imposition of a fine in the amount from fifty to one hundred fifty times the base calculation amount"; Send comments on the document Listen to audio Get a reference from the document element
6. In the disposition of Part One of Article 2151, the word "bankruptcy" shall be replaced with the words "insolvency".
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   Article 3.
   The following amendments and additions shall be made to the Civil Code of the Republic of Uzbekistan, approved by Laws No. 163-I of December 21, 1995 and No. 256-I of August 29, 1996 (Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1996, Annex to No. 2, No. 11-12; 1997, No. 2, Article 56, No. 9, Article 241; 1998, No. 5-6, Article 102; 1999, No. 1, Article 20, No. 9, Article 229; 2001, No. 1-2, Article 23, No. 9-10, Article 182; 2002, No. 1, Article 20, No. 9, Article 165; 2003, No. 1, Article 8, No. 5, Article 67; 2004, No. 1-2, Article 18, No. 5, Article 90, No. 9, Article 171; Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2006, No. 4, Article 154, No. 9, Articles 494, 498; 2007, No. 1, Articles 3, 5, No. 4, Articles 156, 164, No. 8, Article 367, No. 9, Article 416, No. 12, Articles 598, 608; 2008, No. 4, Article 192, No. 12, Article 640; 2009, No. 9, Article 337; 2010, No. 9, Articles 335, 337, 340; 2011, No. 12/2, Articles 363, 364, 365; 2012, No. 4, Articles 106, 109, No. 12, Article 336; 2013, No. 10, Article 263; 2014, No. 5, Article 130, No. 12, Article 343; 2015, No. 8, Articles 310, 312; 2016, No. 4, Article 125; 2017, No. 4, Article 137, No. 9, Article 510, No. 12, Article 773; 2018, No. 1, Article 4, No. 4, Article 224, No. 7, Article 433, No. 10, Article 673; 2019, No. 3, Articles 161, 166, No. 5, Article 267, No. 10, Article 671, No. 12, Articles 880, 886; 2020, No. 1, Articles 3, 4, No. 10, Article 593; 2021, Annex to No. 4, No. 8, Article 801, No. 10, Article 968; 2022, No. 2, Article 79, No. 3, Articles 217, 218, No. 4, Article 340, No. 5, Article 464, No. 6, Article 570, No. 11, Article 1062):
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7. Article 26 shall be worded as follows:
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   "Article 26. Insolvency of an Individual Entrepreneur and a Natural Person Who Has Lost the Status of an Individual Entrepreneur Send comments on the document Listen to audio Get a reference from the document element An individual entrepreneur may be declared insolvent by a court if he is unable to fully satisfy the claims of creditors for monetary obligations and (or) fulfill his obligations regarding taxes and fees. Send comments on the document Listen to audio Get a reference from the document element A natural person who has lost the status of an individual entrepreneur may be declared insolvent by a court in the established procedure if he is unable to fully satisfy the claims of creditors for monetary obligations and (or) fulfill his obligations regarding taxes and fees, provided that the relevant claims arose from his previous entrepreneurial activity. Send comments on the document Listen to audio Get a reference from the document element In carrying out the procedures for insolvency of the persons specified in Part One or Part Two of this Article, their creditors for obligations not related to the carrying out of their entrepreneurial activity also have the right to present their claims regarding compensation for harm caused to life or health, collection of alimony, as well as other claims of a personal nature. Claims of such creditors not presented by them in such manner shall retain their force even after the completion of the insolvency procedure. Send comments on the document Listen to audio Get a reference from the document element If the person specified in Part One or Part Two of this Article is declared bankrupt, the claims of his creditors shall be satisfied in the manner provided for in Article 56 of this Code. Send comments on the document Listen to audio Get a reference from the document element The grounds, procedure, and consequences of declaring the person specified in Part One or Part Two of this Article bankrupt by a court or declaring himself bankrupt shall be established by law"; Send comments on the document Listen to audio Get a reference from the document element
8. It shall be supplemented with Article 261 of the following content:
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   "Article 261. Insolvency of a Natural Person
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   A natural person may be declared insolvent by a court if he is unable to fully satisfy the claims of creditors for monetary obligations and (or) fulfill his obligations regarding taxes and fees. Send comments on the document Listen to audio Get a reference from the document element The grounds, procedure, and consequences of declaring a natural person insolvent shall be established by law"; Send comments on the document Listen to audio Get a reference from the document element
9. Parts Three and Four of Article 48 shall be worded as follows:
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   "A founder (participant) of a legal entity or the owner of its property, or a person belonging to the governing body of a legal entity, as well as a person managing the affairs of a debtor, shall not be liable for the obligations of a legal entity, and a legal entity shall not be liable for the obligations of its founder (participant) or owner, or a person belonging to the governing body of a legal entity, or a person managing the affairs of a debtor, except in cases provided for by this Code or the constituent documents of a legal entity. Send comments on the document Listen to audio Get a reference from the document element If the insolvency of a legal entity arose as a result of illegal actions of a person who has the right to give mandatory instructions to such legal entity in the capacity of a founder (participant), or the owner of the property of a legal entity, or a person belonging to the governing body of a legal entity, or a person managing the affairs of a debtor, then, in case of insufficient property of a legal entity, subsidiary liability for its obligations may be imposed on such person in accordance with the law"; Send comments on the document Listen to audio Get a reference from the document element
   Part Six shall be worded as follows:
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   "The insolvency of a legal entity shall be considered to have been caused by them only if a founder (participant) or owner who has the right to give mandatory instructions to a legal entity, or a person belonging to the governing body of a legal entity, or a person managing the affairs of a debtor, knowing in advance that as a result of carrying out a certain action by a legal entity it will become insolvent, used his right with the intention of causing such action"; Send comments on the document Listen to audio Get a reference from the document element
10. Article 57 shall be worded as follows:
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    "Article 57. Insolvency of a Legal Entity
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    A legal entity that is a commercial organization, as well as a legal entity operating in the form of a consumer cooperative or a social fund, may be declared insolvent by a court if it is unable to fully satisfy the claims of creditors for monetary obligations and (or) fulfill its obligations regarding taxes and fees. Send comments on the document Listen to audio Get a reference from the document element The grounds, procedure, and consequences of declaring a legal entity insolvent shall be established by law"; Send comments on the document Listen to audio Get a reference from the document element
11. In Part One of Article 63, the words "forced (bankrupt)" shall be replaced with the words "insolvent";
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12. In Part Five of Article 67, the words "forced (bankrupt)" shall be replaced with the words "insolvent";
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13. In Part One of Article 113, the word "Code" shall be replaced with the words "Code and other laws";
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14. Part Four of Article 507 shall be worded as follows:
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    "Upon the claim of an interested person, the court may cancel a gift made by an individual entrepreneur or a legal and natural person from funds related to their entrepreneurial activity within one year prior to the initiation of proceedings on insolvency, in violation of the rules of insolvency legislation"; Send comments on the document Listen to audio Get a reference from the document element
15. In Part Three of Article 838, the words "forced (bankrupt)" shall be replaced with the words "insolvent";
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16. Part Two of Article 855 shall be worded as follows:
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    "It is not allowed to direct the recovery of debts of a management trustee to the property entrusted to him for trusted management, except in cases where such person is declared bankrupt. Upon the declaration of a management trustee as bankrupt, the trusted management of such property is terminated and it is added to the liquidation mass"; Send comments on the document Listen to audio Get a reference from the document element
17. In Part One of Article 861:
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    In the fourth bullet point, the words "forced (bankrupt)" shall be replaced with the words "insolvent"; Send comments on the document Listen to audio Get a reference from the document element In the fifth bullet point, the words "forced (bankrupt)" shall be replaced with the words "insolvent". Send comments on the document Listen to audio Get a reference from the document element
    Article 4.
    The following amendments shall be made to the Law of the Republic of Uzbekistan No. 216-I "On Banks and Banking Activity" of April 25, 1996 (in the edition of Law No. URQ-580 of November 5, 2019 of the Republic of Uzbekistan) (Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2019, No. 11, Article 788; 2020, No. 1, Article 1; 2021, Annex to No. 4, No. 10, Article 968; 2023, No. 4, Article 267):
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18. The third bullet point of Part One of Article 39 shall be worded as follows:
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    "in the event of insolvency or the emergence of signs of insolvency as a result of such distribution"; Send comments on the document Listen to audio Get a reference from the document element
19. In the text of Article 64, the word "bankruptcy" shall be replaced with the words "insolvency".
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    Article 5.
    In Part One of Article 28 of the Law of the Republic of Uzbekistan No. 221-I "On Protection of Consumer Rights" of April 26, 1996 (Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1996, No. 5-6, Article 59; 2002, No. 4-5, Article 74; 2003, No. 5, Article 67; Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2005, No. 12, Article 413; 2006, No. 10, Article 536; 2008, No. 4, Article 183; 2010, No. 10, Article 380; 2013, No. 10, Article 263; 2014, No. 1, Article 2; 2016, No. 4, Article 125; 2017, No. 6, Article 300, No. 9, Article 510; 2018, No. 1, Article 1; 2019, No. 12, Article 891; 2021, Annex to No. 4; 2022, No. 1, Article 4; 2023, No. 2, Article 106), the word "bankrupt" shall be replaced with the words "insolvent". Send comments on the document Listen to audio Get a reference from the document element
    Article 6.
    The following amendments shall be made to the Law of the Republic of Uzbekistan No. 223-I "On Joint Stock Companies and Protection of the Rights of Shareholders" of April 26, 1996

(In the edition of Law No. ORQ-370 of the Republic of Uzbekistan adopted on May 6, 2014) (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2014, No. 5, Article 128; 2015, No. 8, Article 312, No. 12, Article 452; 2016, No. 4, Article 125, No. 9, Article 276; 2018, No. 1, Articles 1, 4, No. 4, Article 224; 2019, No. 3, Article 166, No. 12, Articles 880, 886, 891; 2020, No. 1, Article 4, No. 7, Article 449, No. 10, Article 593; 2021, Supplement No. 4, No. 10, Article 973; 2022, No. 3, Articles 216, 217; 2023, No. 1, Article 1) the following amendments shall be made:

1. In Part 5 of Article 4, the word "bankruptcy" shall be replaced with the words "insolvency";

In Part 6:
shall be stated in the following wording:
"The insolvency of a joint-stock company, which has the right to issue mandatory instructions to it, shall be considered to have arisen due to the actions of a shareholder only if, knowing in advance that the company will become insolvent as a result of performing a certain action, it used this right for the purpose of having the company perform such an action";

2. In the third bullet point of Part 1 of Article 38, the word "bankruptcy" shall be replaced with the words "insolvency";

3. In the third bullet point of Part 1 of Article 54, the word "bankruptcy" shall be replaced with the words "insolvency".

Article 7. In Article 3 of Law No. 349-I of the Republic of Uzbekistan "On the Advocacy Profession" adopted on December 27, 1996 (Bulletin of the Supreme Parliament of the Republic of Uzbekistan, 1997, No. 2, Article 48; 2001, No. 1-2, Article 23; 2003, No. 5, Article 67; 2004, No. 1-2, Article 18; Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2005, No. 9, Article 312; 2008, No. 12, Article 641; 2009, No. 9, Article 337; 2018, No. 10, Article 673; 2019, No. 1, Article 3, No. 5, Article 267, No. 9, Article 591; 2021, Supplement No. 4; 2022, No. 8, Article 787; 2023, No. 8, Article 631), the third part shall be supplemented with the following seventh bullet point:
"activity as a court-appointed administrator (for lawyers who have obtained a license for advocacy activities in the conduct of civil and economic court cases)".

Article 8. The following amendments shall be made to Law No. 535-I of the Republic of Uzbekistan "On the Sanation of Agricultural Enterprises" adopted on December 25, 1997 (Bulletin of the Supreme Parliament of the Republic of Uzbekistan, 1998, No. 1, Article 4; Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2008, No. 12, Article 640; 2011, No. 12/2, Article 363; 2015, No. 8, Article 312; 2017, No. 9, Article 510; 2021, Supplement No. 4):

1. In Part 1 of Article 1, the word "bankruptcy" shall be replaced with the words "insolvency";

2. In Part 3 of Article 15, the word "bankruptcy" shall be replaced with the words "insolvency".

See previous edition.
(As per Law No. ORQ-995 of the Republic of Uzbekistan dated November 8, 2024, the date of loss of force of Article 9 is February 12, 2025 - National Database of Legislative Acts of the Republic of Uzbekistan, 11.11.2024, No. 03/24/995/0908)

Article 10. In the text of Article 35 of Law No. 670-I of the Republic of Uzbekistan "On the Contractual and Legal Basis for the Activities of Business Entities" adopted on August 29, 1998 (Bulletin of the Supreme Parliament of the Republic of Uzbekistan, 1998, No. 9, Article 170; Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2007, No. 8, Article 367; 2011, No. 12/2, Article 363; 2014, No. 5, Article 130; 2015, No. 8, Article 312; 2017, No. 9, Article 510; 2018, No. 1, Article 5; 2019, No. 1, Article 1; 2020, No. 3, Article 198; 2021, Supplement No. 4; 2022, No. 8, Article 787), the word "bankruptcy" shall be replaced with the words "insolvency".

Article 11. The following amendments shall be made to Law No. 258-II of the Republic of Uzbekistan "On the Enforcement of Court Decisions and Other Bodies' Documents" adopted on August 29, 2001 (Bulletin of the Supreme Parliament of the Republic of Uzbekistan, 2001, No. 9-10, Article 169; Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2007, No. 8, Article 367, No. 12, Article 598; 2008, No. 4, Articles 184, 187; 2009, No. 1, Article 1; 2010, No. 9, Articles 337, 340; 2012, No. 12, Article 336; 2014, No. 5, Article 130; 2015, No. 8, Article 312, No. 12, Article 452; 2016, No. 9, Article 276; 2017, No. 9, Article 510; 2018, No. 1, Articles 1, 4, 5; 2019, No. 2, Article 47, No. 5, Article 267, No. 7, Article 389, No. 8, Article 469, No. 10, Article 671, No. 12, Article 880; 2021, Supplement No. 4, No. 8, Articles 800, 803; 2022, No. 4, Article 337, No. 6, Article 570; 2023, No. 4, Article 269):

1. Part 2, Clause 2 of Article 34 shall be stated in the following wording:
   "2) when an economic court initiates proceedings on a case regarding the debtor's insolvency, including when an economic court issues a ruling on introducing observation, court-sanctioned rehabilitation, or external management and (or) extending their terms, except for enforcement documents whose suspension is not permitted in accordance with the Law of the Republic of Uzbekistan 'On Insolvency';"

2. Part 1, Clause 2 of Article 36 shall be stated in the following wording:
   "2) when an economic court initiates proceedings on a case regarding the debtor's insolvency, and an economic court issues a ruling on introducing observation, court-sanctioned rehabilitation, or external management and (or) extending their terms - until a decision is made on the case regarding the debtor's insolvency;"

3. In the fifth bullet point of Part 9 of Article 48, the words "bankruptcy procedure" shall be replaced with the words "insolvency procedure";

4. In Part 2 of Article 61, the words "insolvency (bankruptcy)" shall be replaced with the words "insolvency".

See previous edition.
(As per Law No. ORQ-1137 of the Republic of Uzbekistan dated April 21, 2026, the date of loss of force of Article 12 is July 22, 2026 - National Database of Legislative Acts of the Republic of Uzbekistan, 21.04.2026, No. 03/26/1137/0396)

Article 13. The following amendments shall be made to Law No. ORQ-155 of the Republic of Uzbekistan "On Compulsory Insurance of Civil Liability of Vehicle Owners" adopted on April 21, 2008 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2008, No. 4, Article 191; 2010, No. 9, Article 337; 2011, No. 4, Article 99; 2013, No. 4, Article 98; 2015, No. 6, Article 228; 2018, No. 4, Article 224; 2020, No. 11, Article 652; 2021, Supplement No. 4, No. 8, Article 803; 2022, No. 5, Article 464; 2023, No. 1, Article 2):

1. In the second bullet point of Part 1 of Article 25, the word "bankruptcy" shall be replaced with the words "insolvency";

2. Part 1 of Article 26 shall be stated in the following wording:
   "If, as a result of the application of insolvency procedures to the insurer, the insurer is unable to pay the insurance indemnity, the insurer applies to the Payment Guarantee Fund with a request to make compensation payments to the victims (their heirs or legal successors), attaching a certificate of the occurrence of the insured event and documents confirming the application of insolvency procedures to the insurer."

Article 14. In the eighteenth bullet point of Part 5 of Article 44 of Law No. ORQ-163 of the Republic of Uzbekistan "On the Securities Market" adopted on July 22, 2008 (in the edition of Law No. ORQ-387 of the Republic of Uzbekistan adopted on June 3, 2015) (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2015, No. 6, Article 227; 2018, No. 1, Article 1; 2019, No. 1, Article 5, No. 3, Article 166, No. 4, Article 199, No. 12, Article 891; 2020, No. 7, Article 449, No. 10, Article 593; 2021, No. 1, Article 13, Supplement No. 4, No. 10, Articles 968, 973; 2022, No. 3, Article 217; 2023, No. 4, Article 272), the word "bankruptcy" shall be replaced with the words "insolvency".

Article 15. In the third bullet point of Article 23 of Law No. ORQ-210 of the Republic of Uzbekistan "On Compulsory Insurance of Civil Liability of Employers" adopted on April 16, 2009 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2009, No. 4, Article 137; 2013, No. 4, Article 98; 2019, No. 12, Article 880; 2021, Supplement No. 4; 2022, No. 5, Article 464), the words "bankruptcy procedure" shall be replaced with the words "insolvency procedure".

Article 16. In the third bullet point of Part 2 of Article 17 of Law No. ORQ-374 of the Republic of Uzbekistan "On Commercial Secrets" adopted on September 11, 2014 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2014, No. 9, Article 245; 2021, Supplement No. 4), the word "bankruptcy" shall be replaced with the words "insolvency".

Article 17. The following amendments shall be made to Article 352 of the Customs Code of the Republic of Uzbekistan approved by Law No. ORQ-400 of the Republic of Uzbekistan adopted on January 20, 2016 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2016, Supplement No. 1; 2017, No. 9, Article 510; 2018, No. 4, Article 224, No. 7, Article 433, No. 10, Article 670; 2019, No. 1, Article 5, No. 2, Article 47, No. 5, Article 267, No. 9, Article 589, No. 10, Article 671, No. 12, Article 880; 2020, No. 10, Article 593; 2021, Supplement No. 4, No. 10, Article 969; 2022, No. 2, Article 75, No. 7, Article 666, No. 12, Article 1190):

in Part 1, the word "bankrupt" shall be replaced with the words "insolvent";

in Part 2, Clause 3 shall be stated in the following wording:
"3) in the event of the death of a physical person or the declaration of a physical person as deceased, or if a physical person is recognized as bankrupt - the part of his debt for customs payments that remains unpaid due to insufficient assets, including in the event of inheritance by the state".

Article 18. The following amendments shall be made to the Economic Procedural Code of the Republic of Uzbekistan approved by Law No. ORQ-461 of the Republic of Uzbekistan adopted on January 24, 2018 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2018, Supplement No. 2 to No. 1, No. 7, Article 433, No. 10, Article 672; 2019, No. 3, Article 166, No. 5, Articles 261, 266, No. 9, Article 592, No. 10, Article 671, No. 11, Article 791, No. 12, Article 880; 2020, No. 1, Article 1, No. 3, Article 198, No. 10, Article 593; 2021, No. 1, Article 10, Supplement No. 4, No. 8, Article 803, No. 9, Article 903; 2022, No. 3, Article 216, No. 5, Article 463, No. 6, Article 577, No. 8, Article 787; 2023, No. 4, Article 269):

1. In Clause 3 of Part 1 of Article 25, the word "bankruptcy" shall be replaced with the words "insolvency";

2. Article 27 shall be stated in the following wording:
   "Article 27. Cases on Insolvency
   Cases on insolvency include cases on initiating proceedings on the insolvency of legal entities or physical persons, as well as physical persons carrying out entrepreneurial activities without forming a legal entity and having obtained the status of an individual entrepreneur in the manner prescribed by law, who are unable to satisfy creditors' claims for monetary obligations and (or) fulfill their obligations for taxes and fees, as well as physical persons who have lost the status of an individual entrepreneur, if monetary obligations and obligations for taxes and fees arose from their previous entrepreneurial activities."

3. Article 36 shall be stated in the following wording:
   "Article 36. Jurisdiction of Cases on Insolvency Cases on the insolvency of legal entities are heard by the court at the location where the debtor is registered in the debtor registry, as well as by the court at the place of residence of the debtor physical person and (or) the individual entrepreneur."

4. Clause 9 of Article 107 shall be stated in the following wording:
   "9) if proceedings on insolvency have been initiated against the defendant and the claim submitted against the defendant must be heard within the framework of proceedings on insolvency in accordance with the law;"

5. Chapter 25 shall be stated in the following wording:
   "Chapter 25. Conduct of Proceedings on Insolvency
   Article 210. Procedure for Hearing Cases on Insolvency
   Cases on the insolvency of legal and physical persons, as well as individual entrepreneurs, are heard by the court in accordance with the rules provided for in this Code, taking into account the specific features established by the Law of the Republic of Uzbekistan 'On Insolvency'.

Article 211. Right to Apply to Court with a Petition on Initiating Proceedings on Insolvency
In accordance with the law regulating relations in the field of insolvency, the debtor, creditors, and other interested persons have the right to apply to the court with a petition on initiating proceedings on insolvency. The documents provided for by the law regulating relations in the field of insolvency are attached to the petition."

Article 19. In Part 3 of Article 23 of Law No. ORQ-537 of the Republic of Uzbekistan "On Public-Private Partnership" adopted on May 10, 2019 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2019, No. 5, Article 262; 2021, No. 1, Article 16, Supplement No. 4; 2022, No. 6, Article 570; 2023, No. 7, Article 533), the word "bankruptcy" shall be replaced with the words "insolvency".

Article 20. The following amendments shall be made to Law No. ORQ-598 of the Republic of Uzbekistan "On Investments and Investment Activity" adopted on December 25, 2019 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2019, No. 12, Article 892; 2021, Supplement No. 4; 2022, No. 6, Article 570, No. 12, Article 1190):

1. In Part 2 of Article 17, the words "insolvent and bankrupt" shall be replaced with the words "insolvent";

2. In the second bullet point of Part 3 of Article 19, the words "insolvent and bankrupt" shall be replaced with the words "insolvent".

Article 21. The following amendments and additions shall be made to the Tax Code of the Republic of Uzbekistan approved in a new edition by Law No. ORQ-599 of the Republic of Uzbekistan adopted on December 30, 2019 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2019, Supplement No. 1 to No. 12; 2020, No. 3, Article 198, No. 10, Article 593, No. 11, Article 652, No. 12, Articles 690, 691; 2021, No. 1, Article 6, No. 4, Article 294, Supplement No. 4, No. 8, Article 800, No. 9, Article 901, No. 10, Articles 968, 969, 972, 973, No. 12, Article 1199; 2022, No. 2, Article 79, No. 3, Articles 215, 216, No. 5, Articles 461, 464, 467, No. 6, Article 570, No. 7, Articles 664, 666, No. 12, Article 1190; 2023, No. 6, Articles 444, 446, No. 7, Article 540):

1. In the tenth bullet point of Article 60, the word "bankruptcy" shall be replaced with the words "the recognition of the debtor as bankrupt";

2. In the third bullet point of Part 5 of Article 62, the words "bankruptcy (economic insolvency)" shall be replaced with the words "insolvency";

3. In Clause 6 of Part 1 of Article 68, the words "insolvency (bankruptcy)" shall be replaced with the words "insolvency";

4. Part 1 of Article 96 shall be supplemented with the words "or physical person" after the words "individual entrepreneur";

5. Article 97:
   Part 13 shall be added with the following content:
   "The payment of all types of current tax payments (excluding taxes on income from labor contracts (contracts) and civil-law nature contracts, as well as social tax) arising during the process of court-sanctioned rehabilitation or external management in a case on insolvency is suspended for the term of the court-sanctioned rehabilitation or external management procedure introduced on the basis of a court ruling. In this case, these tax debts are paid in equal installments within six months from the date of approving the report of the rehabilitation administrator or external administrator and issuing a ruling on terminating the proceedings on insolvency";

Part 13 shall be considered Part 14;

6. Clause 4 of Part 1 of Article 98 shall be stated in the following wording:
   "4) if the person is recognized as bankrupt";

7. Part 2 of Article 100:
   In Clause 3, the words "insolvency (bankruptcy)" shall be replaced with the words "insolvency"; Clause 7 shall be added with the following content:
   "7) if a court-sanctioned rehabilitation or external management procedure in a case on insolvency provided for in Part 13 of Article 97 of this Code is introduced";

8. Article 304 shall be supplemented with Clause 22 of the following content:
   "22) the portion of the funds received from the sale of property of a debtor legal and physical persons or an individual entrepreneur recognized as bankrupt, directed to repay the debt";

9. In Part 1 of Article 313, the word "bankruptcy" shall be replaced with the words "the recognition of the debtor as bankrupt".

Article 22. The following amendments and additions shall be made to Law No. ORQ-600 of the Republic of Uzbekistan "On State Duty" adopted on January 6, 2020 (Bulletin of the Chambers of the Supreme Parliament of the Republic of Uzbekistan, 2020, No. 1, Article 1, No. 3, Article 201, No. 5, Article 298, No. 10, Article 593, No. 12, Article 691; 2021, No. 1, Article 13, Supplement No. 4, No. 7, Article 661, No. 8, Articles 800, 803, No. 10, Article 968; 2022, No. 2, Article 76, No. 3, Articles 214, 216, No. 4, Article 340, No. 5, Articles 463, 464, 467, No. 12, Article 1186; 2023, No. 2, Article 103, No. 3, Article 186, No. 4, Articles 265, 269, No. 6, Articles 444, 445, No. 7, Article 538):

1. In Clause 2 of Article 5, the words "on recognizing organizations and citizens as bankrupt" shall be replaced with the words "on initiating proceedings on insolvency";

2. Article 19 shall be supplemented with Parts 29 and 30 of the following content:

The court accepts claims and other applications filed by the court-appointed administrator in insolvency proceedings without payment of state duty, for the purpose of exercising their rights and obligations.

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The state duty is paid by the court-appointed administrator in the manner established by Article 59 of the Law of the Republic of Uzbekistan "On Insolvency";

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3)
In sub-item "v" of item 2 of the appendix, the words "declaring organizations and citizens bankrupt" are replaced with the words "initiating insolvency proceedings".

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Article 23.
The following amendments shall be made to Article 50 of the Law of the Republic of Uzbekistan No. URQ-642 dated October 20, 2020 "On Employment of the Population" (Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2020, No. 10, Article 595; 2021, No. 4, Article 287, Appendix to No. 4; 2022, No. 3, Article 216, No. 5, Article 464, No. 6, Article 570, Appendix to No. 10):

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In the name, the words "being bankrupt" are replaced with the words "declared bankrupt";

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In the first part, the words "forced (bankrupt)" are replaced with the word "bankrupt".

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Article 24.
The following amendments shall be made to the Law of the Republic of Uzbekistan No. URQ-684 dated April 22, 2021 "On State Procurement" (Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2021, No. 4, Article 289):

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1. In the fifth paragraph of Article 36, the word "bankruptcy" is replaced with the words "insolvency";

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2) In the fourth paragraph of the first part of Article 42, the word "bankruptcy" is replaced with the words "insolvency".

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Article 25.
In the sixth part of Article 100 of the Labor Code of the Republic of Uzbekistan, approved by the Law of the Republic of Uzbekistan No. URQ-798 dated October 28, 2022 (Appendix to No. 10 of the Bulletin of the Chambers of the Oliy Majlis of the Republic of Uzbekistan, 2022; 2023, No. 4, Article 265), the words "(bankrupt)" shall be deleted.

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Article 26.
The Cabinet of Ministers of the Republic of Uzbekistan:

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Get a reference from the document element shall ensure that republican executive authorities review and repeal their normative legal acts that contradict this Law;

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Get a reference from the document element shall ensure the implementation of this Law, its delivery to executors, and the explanation of its essence and importance among the population.

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Article 27.
This Law enters into force from the day of its official publication.

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President of the Republic of Uzbekistan Sh. MIRZIYOYEV

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Tashkent,

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February 21, 2024,

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No. URQ-911
(National Database of Legislative Information, 22.02.2024, No. 03/24/911/0142; 11.11.2024, No. 03/24/995/0908; 21.04.2026, No. 03/26/1137/0396)