On 3 July 2023, the President of Uzbekistan signed the Law No. ЗРУ- 850 “[o]n competition†(the “New Lawâ€), which comes into force on 4 October 2023, replacing the law on competition No. ЗРУ-319 dated 6 January 2012 (the “Old Lawâ€). The New Law (i) defines new criteria for identifying a dominant market position, (ii) introduces the concept of superior bargaining power, (iii) sets out antimonopoly compliance requirements for certain business entities, (iv) clarifies the requirements for obtaining preliminary consent for certain transactions, and (v) imposes financial sanctions for violations of the New Law. Antimonopoly Compliance The New Law introduces the
