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2.3. Dependent economic society
According to the article 68 of the Civil code of the Republic of Uzbekistan a business company is recognized as dependent if another participating company has more than twenty percent of its voting shares (shares). Here, we have to pay attention to the fact that if one company owns more 20 percent of the shares of another company, the last one is called dependent economic society. Nevertheless, a dependent business company is a legal entity but a dependent business company is not entitled to own shares in the authorized fund (authorized capital) of another participating company. If a dependent business company that has acquired shares in the authorized fund (authorized capital) of another participating company prior to the entry into force of the prohibition established in this part is not entitled to vote at the general meeting of participants or shareholders of another participating company. So, here we can understand that the dependent economic society doesn’t have (participate) shares on the authorized capital of the another company, if it has, the dependent economic society doesn’t have a right for voting at the general meeting of that company.
2.4. Unitary enterprise
According to the article 70 of the Civil code of the Republic of Uzbekistan a unitary enterprise is a commercial organization that is not endowed with the right of ownership of the property assigned to it by the owner. The property of a unitary enterprise is indivisible and cannot be distributed among deposits (shares, shares), including among employees of the enterprise. The unitary enterprise a special type of the for-profit legal persons and mostly they are state owned (the sole owner of the company is a government) commercial companies. The corporate name of a unitary enterprise must contain an indication of the owner of its property. That’s why, when they are named it always written “state owned unitary enterprises”. The charter of a unitary enterprise must contain information about the size of the authorized capital of the enterprise, the procedure and sources of its formation. The property of a unitary enterprise belongs to him on the right of economic management or operational management. So, in order to commit any kind of actions which directly (indirectly) touch property rights of the owner, the unitary enterprise must approve its decision with the owner and the owner must give its agreement for the action. If the process which mentioned above is obeyed, the unitary enterprise is liable for its obligations with all property belonging to it. The body of a unitary enterprise is the head, who is appointed by the owner or the body authorized by the owner and is accountable to them. It’s clear that the head of the unitary enterprise is appointed by the owner and if the process doesn’t obeyed, the owner can remove the head according to the decision of the court. The unitary enterprise does not have the right to own shares in the authorized fund (authorized capital) of its owner. A unitary enterprise that has acquired shares in the authorized fund (authorized capital) of its owner before the entry into force of the prohibition established in this part is not entitled to vote at the general meeting of participants of a business company (partnership).
Here, I would like to show differences between the unitary company on the right of economic management and the unitary company on the right of operational management: