Investment and innovations mm54i Komilov Azizbek Ticket №24

Investment and innovations
MM54i Komilov Azizbek
Ticket № 24

1. 
   Subjects and objects of investment activity
   
2. 
   The legislative framework of leasing relations in Uzbekistan
   
3. 
   Foreign direct investment and their meaning
   

Answers:
1.Investments — tangible and intangible assets and rights to them, including intellectual property rights, as well as reinvestments, invested by an investor on the basis of risks in social facilities, entrepreneurial, scientific and other activities for profit, which may include:
funds, including cash (including foreign currency), targeted bank deposits, shares, stocks, bonds, bills and other securities;
movable and immovable property (buildings, structures, equipment, machinery and other material values);
intellectual property rights, including patented or non-patented (know-how) technical, technological, commercial and other knowledge, drawn up in the form of technical documentation, skills and production experience, necessary for organizing a particular type of production, as well as other values, not prohibited by the legislation of the Republic of Uzbekistan;
The objects of investment activity are objects of social sphere, entrepreneurial, scientific and other types of activity not prohibited by legislation.
It is prohibited to invest in objects, the creation and use of which do not meet the sanitary and hygienic, radiation, environmental, architectural, town planning and other requirements established by legislation, violate the rights and interests of legal entities and individuals protected by law.
The subjects of investment activity are citizens, individual entrepreneurs and legal entities — residents of the Republic of Uzbekistan, state and local government bodies, foreign states, administrative or territorial bodies of foreign states, international organizations and foreign legal entities and citizens, as well as stateless persons.
2. The legislation on leasing regulates relations arising from the implementation of leasing, and consists of this Law and other legislative acts.
If an international treaty of the Republic of Uzbekistan established other rules than those which are provided for by the legislation of the Republic of Uzbekistan on leasing, then the rules of international treaty shall be applied.
Leasing — a special form of financial lease, at which one party (the lessor) on behalf of another party (the lessee) acquires from a third party (seller) the property (an object of leasing) indicated by the leasing contract and provides it to the lessee for a fee on certain such contract terms in possession and use for a period exceeding twelve months. In this case, the leasing contract must meet one of the following requirements:
At the end of the term of the contract of leasing the object of leasing passes into the property of the lessee;
The term of the leasing contract exceeds 80 percent of the service life of the leasing object or the residual value of the leasing object at the end of the leasing contract is less than 20 percent of its initial value;
At the end of the term of the leasing contract, the lessee has the right of redemption of the object of leasing at the price lower than the market value of the object of leasing on the date of implementation of this law;
The current discounted value of the leasing payments over the period of the leasing contract exceeds ninety per cent of the current value of the object of leasing at the time of transmission in the lease. The present discounted value is determined in accordance with the legislation on accounting.
Leasing is carried out under a tripartite (seller — lessor — lessee) or bilateral (lessor — lessee) leasing contract.
When concluding a bilateral leasing contract between the lessor and the seller an additional contract is concluded on the sale of the leasing object.
The objects of the leasing can be any non-consumable items, in that those enterprises, property complexes, buildings, structures, equipment, transport means and other movable and immovable property used for entrepreneurial activity.
The objects of the leasing may not be land plots and other natural objects, as well as other property seized from circulation or limited transferable.
The subjects of leasing are the lessor, lessee and seller.
The lessor recognizes the person acquiring the object of leasing in the property in order to its subsequent transfer to the lessee in accordance with the leasing contract.
A lessee is a person who acquires a leasing object in his possession and use under a leasing contract.
The seller is the person from whom the lessor acquires the leasing object.
In relation to the specific object of leasing is not allowed to combine in one person of the lender, lessor and lessee in the case when the object of leasing is acquired for the account of the credit (loan) of the lessee.
The ownership right to the leasing object before its purchase by the lessee belongs to the lessor. The right of ownership to the object of the lease can go to the lessee before the expiry of the term of action of the contract of leasing with the condition of payment of all lease payments over the net of the income of the lessor for the remaining period until the expiration of the term of the contract of leasing, unless otherwise not provided by the contract of leasing.
In the event of a lessee's bankruptcy, seizure, or confiscation of his property, the leasing object is separated from the lessee's total property and is subject to return to the lessor, who may dispose of it at his discretion. The procedure for damages to the lessor is determined by law.