OREANDA-NEWS. July 08, 2008. Fourteenth plenary session of the Senate of Oliy Majlis of Uzbekistan opened in Tashkent. It was attended by invited members of the Cabinet and heads of state bodies, whose activities are relevant to the matters included in the agenda of the event. The meeting was led by the chairman of the Senate Iigizar Sobirov, reported the Official website http://new.nbu.com.

The senators began their work by considering the Law of the Republic of Uzbekistan "On accession of Uzbekistan to the United Nations Convention against Corruption (New York, 31 October 2003)". It was noted that the law was adopted on the initiative of the President of the Republic of Uzbekistan.

The senators also considered the Law "On securities market", adopted on the basis of the resolutino of the President of Uzbekistan dated 27 September 2006 "On measures to further develop the securities market". It was said that the main purpose of the law was to regulate the system of market relations in the field of wid introduction of new and innovative financial instruments for implementing the opportunities and advantages of the securities market. The law meets modern requirements, conditions and priorities for further financial market liberalization and economic modernization.

The endorsement of the document will facilitate and strengthen the guarantees of the rights of investors for their confidence and free activity in the securities market, broad mobilization of investment opportunities of the country, development of private property and increasing its share in the economy, as well as healthy competitive environment in the securities market. This law was also approved by the senators.

While reviewing the Law "On introducing changes and additions to the Air Code of the Republic of Uzbekistan", the senators noted that its main purpose was to bring individual articles of the code in line with the requirements of standards set by the International Civil Aviation Organization. It also regulates the basic rules of flights of the aviation of ministries, departments, enterprises and organizations, as well as foreign users who perform flights in the airspace of Uzbekistan, and expands the list of transportation documents processed on paper or electronically. The law was passed by the senators.

The members of the parliament\'s upper chamber considered the Law "On changes and amendments to the Law of the Republic of Uzbekistan "On inventions, utility models and industrial designs". The senators stressed that the main purpose of this act was to create favourable conditions for small business development, promoting economic development and reducing the initial cost of developers to receive legal protection through imposition of pending expertise of patent applications, as well as rules related to temporary legal protection the applicant of a published application receives.

The changes and additions remove the existing restrictions from the list of objects that may be granted legal protection as inventions, impose criteria emphasizing the technical nature of the invention and contain provisions aimed at protecting the rights of the third parties, using industrial property in good faith during the suspension of the patent. The law was approved by the senators.