According to the Constitutional Tashkent International Financial Centre Law, the center is designated as a zone with a special legal status. Its initial physical boundaries will be established by a presidential decree concerning the creation of the Tashkent International Financial Centre.
The primary objective of this law is to define the center’s legal status, introduce a special legal framework operating within its territory, and regulate all relations and activities within the financial center's domain. Under the document, every regulatory decision made by the Financial Centre must be published in its official registry before it can take effect.
Furthermore, any participant engaging in commercial or financial activities that violate the provisions of the law or the Financial Centre's decisions can face administrative fines. These fines may reach up to $10 million, or up to 10% of the value of the non-compliant transaction or activity.
The law establishes the governing bodies of the Tashkent International Financial Centre as follows:
- Financial Centre Council;
- Financial Centre Administration;
- Financial Services Regulatory Authority;
- Tashkent International Commercial Court.
In addition, each body of the center is required to publish an annual transparency report within four months following the conclusion of the fiscal year. To align with global economic standards, English is designated as the official language of the Tashkent International Financial Centre.
This Constitutional Law will officially enter into force 10 days after its formal publication.
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