ЎЗБЕКИСТОН
ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
♦
UZBEK LAW REVIEW
♦
ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
2017
№
3
♦
ЎЗБЕКИСТОН
ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
♦
UZBEK LAW REVIEW
♦
ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
56
қўлланилиши
ҳар
доим
ҳам
ўзини
оқламайди
.
Айниқса
,
ижодий
жараён
,
илм
-
салоҳият
,
иқтидор
талаб
қилинадиган
компьютер
дастурлари
ва
маълумотлар
базасини
яратиш
муаллифлик
шартномасини
бажармаганлик
ёки
лозим
даражада
бажармаганлик
учун
ҳақиқий
зарар
билан
чегараланиш
мақсадга
мувофиқ
бўлади
.
Фикримизча
,
ФКга
1070-
моддасини
қуйидаги
таҳрирда
ўзгартириш
мақсадга
мувофиқ
:
1070-
модда
.
Муаллифлик
шартномаси
бўйича
жавобгарлик
Мутлақ
ҳуқуқни
ўтказиш
бўйича
тузиладиган
шартномада
ва
лицензия
шартномаси
бўйича
муаллифнинг
жавобгарлиги
агар
шартномада
бундан
кам
миқдор
кўрсатилмаган
бўлса
,
бошқа
тарафга
етказилган
ҳақиқий
зарар
билан
чекланади
.
Буюртманинг
муаллифлик
шартномасини
бажармаганлик
ёки
лозим
даражада
бажармаганлик
учун
муаллиф
буюртмачига
авансни
қайтариши
,
шунингдек
агар
шартномада
назарда
тутилган
бўлса
,
унга
неустойка
тўлаши
лозим
.
Бунда
тўланиши
лозим
бўлган
тўловларнинг
умумий
миқдори
буюртмачига
етказилган
ҳақиқий
зарар
билан
чекланади
.”
Адабиётлар
рўйхати
:
1.
Тошев
Б
.
Муаллифлик
ҳуқуқи
. –
Т
.:
Мерос
, 1997.
–
Б
. 49.
2.
Семенихин
В
.
В
.
Договор
авторского
заказа
на
примере
договора
на
разработку
сайта
с
типовым
договором
.
Бухгалтерский
учет
в
издательстве
и
полиграфии
. 2011,
Выпуск
№
7, -
С
.37.
3.
Ўзбекистон
Республикаси
Фуқаролик
кодексига
шарҳ
. 3
жилд
. (
биринчи
қисм
)
Адлия
вазирлиги
. -
Т
.:
Baktria Press, 2013. –
Б
. 800.
4.
Комментарий
к
Гражданскому
кодексу
Россий
-
ской
Федерации
(
учебно
-
практический
).
Части
первая
,
вторая
,
третья
,
четвертая
. – 2-
е
изд
.,
перераб
.
и
доп
. /
Под
ред
.
С
.
А
.
Степанова
. –
М
.:
Проспект
;
Екатерин
-
бург
:
Институт
частного
права
, 2009. –
С
. 1504.
О
.Rakhmonov,
Senior scientific researcher of the Center of Legal
Researches of TSUL
TASKS OF STANDARDS AND METHODS OF
CORPORATE GOVERNANCE (EXPERTISE OF USA)
Аннотация
:
Мақолада
Ўзбекистон
ва
Америка
Қўшма
Штатлари
қонунчилигида
давлатнинг
акциядорлик
жамиятларидаги
иштироки
масаласи
,
уларнинг
корпоратив
-
инвестициявий
муҳити
нуқтаи
назаридан
корпоратив
бошқарувнинг
ўзига
хос
хусусиятлари
,
қимматли
қоғозларнинг
ҳуқуқий
тартиби
ёритилиб
,
амалий
аҳамиятга
эга
бўлган
таклиф
ва
тавсиялар
илгари
сурилган
.
Калит
сўзлар
:
корпоратив
бошқарув
,
акциядорлик
жамиятлари
,
қимматли
қоғозларнинг
ҳуқуқий
тартиби
,
очиқ
обунадаги
корпорациялар
,
қимматли
қоғозлар
фирибгарлиги
.
Аннотация
:
В
статье
рассмотрены
вопросы
уча
-
стия
государства
в
акционерных
обществах
,
особенности
корпоративного
управления
с
точки
зрения
корпоративно
-
инвестиционного
климата
,
пра
-
вового
урегулирования
ценных
бумаг
в
Узбекистане
и
Соединённых
Штатах
Америки
,
а
также
выдвинуты
практические
предложения
и
рекомендации
.
Ключевые
слова
:
корпоративное
управление
,
ак
-
ционерное
общество
,
правовое
урегулирование
цен
-
ных
бумаг
,
корпорации
в
открытой
подписке
,
мошен
-
ничество
в
ценных
бумагах
.
Annotation:
The article considers issues of state par-
ticipation in joint-stock companies, features of corporate
governance from the point of view of corporate and in-
vestment climate, legal regulation of securities in Uzbeki-
stan and the United States of America, and practical sug-
gestions and recommendations are put forward.
Key words:
corporate governance, joint-stock compa-
ny, legal settlement of securities, corporations in open
subscription, securities fraud.
The presence of state corporations in the United
States also has a decisive institutional nature, mainly two
types of corporations:
1) full state (federal, state) corporations;
2) private enterprises financed by the state.
The second type of corporation is private, where the
government participates as a common shareholder,
although the government's participation as a controlling
shareholder in the government is legal, but its actions are
not limited to minority shareholders, but rather federal,
state corporate laws, to ensure that [1, pp. 10-11].
In addition, the state expands as a minority
shareholder in such private corporations. The main reason
for this is that corporations that do not control the state but
act as minority shareholders are more likely to provide
legal protection to their investors [2, pp.46-48].
One of the most important factors that led to the
development of the corporate investment environment in
the United States is the existence of extremely stringent
requirements, norms and effective implementation that
require regular periodic disclosure of financial information
on its activities. Most of them are associated with various
financial and institutional reports, which contain detailed
information on activities, productivity, types of shares,
shares, nominal value, transactions with primary and
ЎЗБЕКИСТОН
ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
♦
UZBEK LAW REVIEW
♦
ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
2017
№
3
♦
ЎЗБЕКИСТОН
ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
♦
UZBEK LAW REVIEW
♦
ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
57
secondary markets, acquisition of companies, dividends
paid for shares, they are constantly on the way, and
companies are placed on their sites and other special
sites. Most importantly, they should be timely submitted in
the form of such reports of the Commission on the
Securities Market and the Stock Exchange. Otherwise,
they are not represented, presented as unreliable or
deferred, incorrect: complete source information, incorrect
(false information), and strict civil, administrative and
criminal liability. Therefore, these relations are strictly
regulated by federal and state laws, which were originally
envisaged for the whole country. Corporate relations
related to all stocks include federal laws regulating the
securities market from 1933 to 1940 and six new laws that
have been changed so far - charters and two other laws
passed in the 1970s and 2002. These basic laws are as
follows:
- The Securities Act of 1933;
- The Securities Act of 1934 (the Securities Exchange
Act of 1934)
- The document of 1935 "On Holding Companies in the
Community Charter" was abolished in 2005 etc. "Trust
Deed", 1939 (Law on Trust Management of 1939);
- The document "On Trust Agreements", 1939.
- The document "On investment companies", 1940.
- "Investment advisors", 1940 (Investment Advisors Act
of 1940
- The Securities Investor Protection Act of 1970);
- Sarbanes-Oxley Act, 2002 (Sarbanes-Oxley Act
2002, 15 USC and other US Code names)
The Law of the Republic of Uzbekistan "On Securities"
of 1933 regulates a public (open) offer of securities. It for-
bids the Securities and Exchange Commission (SEC) to
sell non-listing offers and deals. The Securities Act of
1934 provides for the federal regulation of the secondary
market, such as debt and traded securities. The document
contains rules for different participants in the sales pro-
cess. The law was found by the Stock Exchange and im-
posed on it the responsibility for ensuring the implementa-
tion of the Securities Act of 1933. This law also includes:
- downloads information and other requirements into
publicly available corporations; prohibits various manipula-
tive or fraudulent activities related to the purchase or sale
of securities; The SEC commits to compile financial
statements based on generally accepted accounting prin-
ciples for companies that have listed their shares on an
exchange listed on the stock exchange;
- limits the amount of the loan that will be used to pur-
chase securities;
- requests registration of brokers and dealers from the
SEC, The Securities and Exchange Commission, and reg-
ulates their activities;
- registration and control of SEC from national stock
exchanges and associations, clearing organizations, trans-
fer agents.
The Sarbanes-Oxley Act of 2002 (SOX) was a very
important and decisive act that was adopted at the federal
level in response to the disruption of Enron and World-
Com. The law includes a number of corporate governance
reforms, new rules for auditors, increased reporting re-
quirements, increased criminal prosecution and new rules
of legal conduct. SOX amended many of the aforemen-
tioned laws of 1933 and 1934 [3].
The latter law defines the most significant and most in-
fluential in the history of US corporate law, as well as strict
liability for offenses related to stocks. According to Article
803, section VIII, Section XI, Section 523 (a) of the US
Code is amended as follows: (i) violation of federal laws
governing any securities (Article 1934 of the Law of the
Republic of Uzbekistan "On Exchange of Securities"); 3)
any fraud, deception or manipulations related to any sale
or purchase of securities [4].
The Dow Jones Industrial Average (DJIA) is one of the
main signs of the presence in the stock market. This is
one of the earliest and most common indicators in the
world. It includes shares of 30 of the largest and most
powerful companies in the United States. This is the price
index. It is calculated by adding each of the shares of each
of the shares to the price of each company and placing
this amount in the number of companies. Therefore, the
average cursor is called the average. DJIA shows almost
a quarter of the value of the entire US stock market, but
fluctuations in interest rates in the Dow should not be in-
terpreted as an accurate bet for the entire market. A $ 1
share price change of $ 1 would change the DJIA by $ 1 at
$ 20 per share, which would change to 0.8% and the sec-
ond to 5% [5].
Standard & Poor's 500 Promotions Outlier is more and
more different from DJIA. The company has the largest
number of 500 largest companies in the world, including
shares of the stock market is more than 80%. This is a
market indicator, each of which is indexed by its share of
total market capitalization. In other words, if the entire
market value of all 500 companies in the S & P 500 drops
to 10%, the display value will drop to 10%. A 10% change
in the proportion of DJI does not necessarily result in a
10% change in the standard. In addition, there are other
indices of Standard & Poor's, for example the S & P 400
shows an average capitalization, and the S & P 600
demonstrates a small capitalization. S & P 500, 400, 600
are a good measure of market movement in the country,
you can easily compare with interest rates [6].
Nasdaq is an exchange in which there are 100 large
national and state companies dealing with technology,
finance, industry, insurance and transport. The Nasdaq
Composite Index is an indicator based on the market capi-
talization of all these shares traded on the Nasdaq stock
market [7].
Russell 2000 - the USA based on market capitalization
in the stock market, is an index based on the market capi-
talization of the 2,000 smallest shares of Russel 3000, i.e.
2000 shares of various companies (issuers). Russell 2000
- the best indicator of the daily work of small companies in
the market. It does not dominate in any industry [8].
Fraud with securities. According to it, whoever was the
"Stock Exchange" in 1934 Article 12 of the Law of the Re-
public of Uzbekistan "On Exchange of Securities" in ac-
cordance with Article 15 (d) of the Law "On Exchange of
Securities" in connection with the submission of reports on
the securities market in accordance with Article 15 (d) of
the Law "On Securities Exchange". In case of violation of
the rules in accordance with Article 12 of the Law "On the
Securities Market", false or false claims related to the pur-
chase and sale of registered securities, pledges and prom-
ises, he or she will be fined or imprisoned for a period of
not more than 25 years or two types of fines [9].
- In conclusion, we would like to emphasize that in
case of disputes related to collection of unpaid dividends
in existing practice, such non-payment or non-payment of
dividends for the correct and efficient resolution of cases
brought in such economic courts, now prosecution of cas-
es related to them will be punished by acts or omissions of
the public without prejudice to the general public or an
appropriate auction or auction of a separate corporate
ЎЗБЕКИСТОН
ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
♦
UZBEK LAW REVIEW
♦
ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
2017
№
3
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ҚОНУНЧИЛИГИ
ТАҲЛИЛИ
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ОБЗОР
ЗАКОНОДАТЕЛЬСТВА
УЗБЕКИСТАНА
58
governance div. This liability standard must first be in-
cluded in Article 53 of the Law of the Republic of Uzbeki-
stan "On Joint Stock Companies and Protection of Share-
holder Rights". In addition, to effectively prevent such cas-
es, it is now necessary to create a mechanism for paying
dividends on all dividends to ensure timely and proper
execution of dividends. For this, corporate governance
codes and dividend policies of a strictly controlled corpora-
tion must be adopted, which define their obligations for
corporate governance and ensure their full implementa-
tion.
References:
1. Mariana Pargendler. State Ownership and Corpo-
rate Governance.Article. Fordham Law Review, Volume
80/Issue 6, 2012,
−
P. 10-11.
2. Overview of Federal Securities Laws.By Thomas
Lee Hazen.June 2007
3. Sarbanes-Oxley Act of 2002. Title VIII—Corporate
and criminal fraud accountability, Sec. 803. Debts nondis-
chargeable if incurred in violation of securities fraud laws
4. http://www.djindexes.com
5. http://www2.standardandpoors.com
6. http://dynamic.nasdaq.com/dynamic/nasdaq100_ac
tivity.stm
7. http://www.russell.com
8. Sarbanes-Oxley Act of 2002.Title VIII-Corporate
and criminal fraud accountability. Sec. 807.Criminal Penal-
ties for defrauding shareholders of publicly traded compa-
nies.
Ш
.
Р
.
Астанов
,
Бухоро
вилояти
халқ
таълими
ходимларини
қайта
тайёрлаш
ва
малакасини
ошириш
институти
ўқитувчиси
ЭРКИН
ИҚТИСОДИЙ
ЗОНАЛАРНИНГ
ВА
УНИНГ
МАМЛАКАТ
ИҚТИСОДИЁТИНИ
РИВОЖЛАНТИРИШДАГИ
ЎРНИ
Аннотация
:
ушбу
мақолада
эркин
иқтисодий
зоналар
тушунчаси
ва
уларнинг
мамлакат
иқтисодиётини
ривожлантиришда
тутган
ўрни
,
мамлакатимизда
мавжуд
иқтисодий
зоналар
ва
келажакда
шакллантирилиши
лозим
бўлган
турлари
ёритилган
.
Калит
сўзлар
:
эркин
иқтисодий
зона
,
диверсификация
,
инфратузилма
,
минтақа
иқтисодиёти
,
ялпи
миллий
маҳсулот
.
Аннотация
:
в
данной
статье
рассматривается
понятие
а
также
место
и
роль
свободной
экономической
зон
,
анализировано
деятельность
существующих
и
планируемых
новых
видов
экономик
зон
.
Ключевые
слова
:
свободная
экономическая
зона
,
диверсификация
,
инфраструктура
,
региональная
эко
-
номика
,
валовой
национальный
продукт
.
Annotation:
this article is about the concept, the place
and the role of free economic zones in the national
economy, the activity of existing and planned new types of
economies of zones
Key words:
free economic zone, diversification,
infrastructure, regional economy, gross national product.
Бугунги
кунда
эркин
иқтисодий
зоналар
бу
мамлакат
иқтисодиётини
ривожлантирадиган
,
унинг
истиқболига
туртки
бўладиган
муҳим
омил
ҳисобланади
.
Биринчи
Президентимиз
И
.
А
.
Каримов
таъкидлаганларидек
: “
Ҳал
қилувчи
аҳамиятга
эга
бўлган
яна
бир
устувор
йўналиш
–
чел
эл
инвестицияларини
кенг
жалб
қилиш
,
хорижий
инвесторлар
учун
янада
қулай
шароитлар
яратишга
улкан
эътибор
қаратаётганимизни
алоҳида
қайд
этмоқчиман
” [1].
Дунё
миқёсида
аҳоли
сони
7
млрддан
ошган
бўлиб
,
уларни
боқиш
масаласи
дунё
ҳамжамиятининг
олдида
турган
энг
муҳим
масала
бўлиб
қолмоқда
[2].
Дунё
аҳолисини
иқтисодий
,
ижтимоий
таъминлаш
учун
бугунги
кунда
сайёрамизда
мавжуд
резервларнинг
ҳам
чегераланганлиги
кўпчиликка
сир
эмас
.
Бу
каби
муаммоларнинг
ечими
сифатида
энг
аввало
,
мавжуд
захиралардан
оқилона
фойдаланиш
зарур
бўлса
,
иккинчидан
дунё
аҳолисини
қийнаётган
ишсизлик
муаммосини
бартараф
этиш
талаб
этилади
.
Бундан
ташқари
ҳаттоки
ривожланган
мамлакатларда
ҳам
ёшларнинг
ишсиз
қолаётганлиги
ҳолати
учраб
турибди
.
Бу
масаланинг
ҳал
қилиниши
йўли
сифатида
,
кўпгина
давлатлар
ҳозирги
кунда
ривожланиб
бораётган
эркин
иқтисодий
зоналарни
яратиш
ва
бу
орқали
импорт
махсулотларини
нархини
камайтиришга
уриниш
,
янги
иш
ўринларини
шаклантириш
орқали
мамлакатни
инқироздан
чиқаришнинг
ягона
йўли
сифатида
баҳолашмоқда
.
Масалан
,
статистик
маълумотларга
эътибор
берадиган
бўлсак
,
бугунги
кунда
дунёда
3,5
мингдан
зиёд
ЭИЗлар
ташкил
этилган
бўлиб
,
улар
140
га
яқин
