Uzbekistan is eliminating outdated business structures and formalizing the status of consortiums.

The Senate of the Oliy Majlis of Uzbekistan has approved a draft law aimed at abolishing commercial unitary enterprises and companies with additional liability. Lawmakers noted that these organizational and legal forms have become outdated and do not meet modern standards of corporate governance.

In addition, the draft law establishes the legal status of consortiums—temporary alliances of independent companies formed to implement large investment projects, such as the construction of factories and infrastructure facilities.

Commercial unitary enterprises in Uzbekistan do not possess ownership rights over their assets, and their assets cannot be divided into shares. Companies with additional liability are similar to limited liability companies but include subsidiary liability for founders, allowing for the seizure of their personal property to cover the company's debts.

The document also sets new requirements for the disclosure of corporate information, including the mandatory publication of data regarding the issuance of securities.