LAW OF THE REPUBLIC OF UZBEKISTAN

of December 30, 2017 No. ZRU-455

About modification and amendments in some legal acts of the Republic of Uzbekistan in connection with enhancement of tax administration

Accepted by Legislative house on December 18, 2017

Approved by the Senate on December 20, 2017

Article 1. Bring in the Law of the Republic of Uzbekistan of May 5, 1994 No. 1054-XII "About bankruptcy" (in edition of the Law of the Republic of Uzbekistan of April 24, 2003 No. 474-II) (Sheets of Oliy Majlis of the Republic of Uzbekistan, 2003, No. 5, Art. 63; Sheets of chambers of Oliy Majlis of the Republic of Uzbekistan, 2005, No. 12, Art. 414; 2008, No. 12, Art. 640; 2009, No. 1, Art. 1, No. 4, Art. 133, No. 9, Art. 330; 2010, No. 9, Art. 337; 2011, No. 10, Art. 270; 2012, No. 12, Art. 334; 2014, No. 5, Art. 130, No. 9, Art. 244, No. 12, Art. 343; 2015, No. 8, Art. 312; 2017, No. 9, Art. 510, No. 10, Art. 605) following changes and amendments:

The text of Article 1 to state 1) in the following edition:

"The purpose of this Law is regulation of the relations in the field of bankruptcy of the legal entities, individual entrepreneurs and physical persons who lost the status of the individual entrepreneur";

The paragraph the sixteenth Article 3 to state 2) in the following edition:

"the debtor - the legal entity or the individual entrepreneur not capable to meet requirements of creditors for monetary commitments and (or) to fulfill duties on obligatory payments, or the physical person which lost the status of the individual entrepreneur not capable to meet requirements of creditors for monetary commitments and (or) to fulfill duties on obligatory payments if monetary commitments and obligations on obligatory payments follow from its previous business activity";

Part the second articles 5 after words to "individual entrepreneur" to add 3) with the words "or to the physical person which lost the status of the individual entrepreneur";

Paragraph one of part one of article 8 after the words "individual entrepreneur" to add 4) with the words "or the physical person which lost the status of the individual entrepreneur";

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