MPs pass bill including item on fines for illegal disposal of pledged property in the first reading Tuesday. The bill has proposed administrative penalties for causing minor damage to pledged property. To this end, a new Article 61-3 is planned to be inserted into the Administrative Liability Code.
Illegal disposal of pledged property includes its misappropriation, embezzlement, concealment, destruction, or damage.
MP from the UzLiDep party Khushvakt Khaitov noted, penelty under Article 233 of the Criminal Code currently applies only for major damages—from 100 to 300 basic calculation units (41.2 million to 123.6 million soums).
If the bill is passed, administrative penalties shall apply for damages of minor or insignificant amounts—from 30 to 100 BCUs (12.36 million to 41.2 million soums).
According to the MP, the bill was developed after problems had been identified during foreclosure on vehicles pledged for bank loans.
"There have been cases where a vehicle, left in the possession of the pledger, was transferred to others for lease, free use, or other purposes, after which it is taken outside of Uzbekistan or evaded detection," he explained.
