Article 29. Venture organizations, funds, partnerships

On innovative activity (LRU-630-son) · Date: 24.07.2020 · In force

Venture organizations, funds, partnerships (hereinafter referred to as venture organizations) are specialized financial institutions created both in the form of a legal entity and without forming a legal entity, the main activity of which is financing the implementation of risky innovative projects.

The founders of venture organizations can be legal entities and individuals, including foreign ones.

Venture organizations have the right to:

take equity participation in the authorized capital of newly created legal entities;

transfer their funds for the implementation of new developments without collateral, surety and guarantee.

Creation, reorganization and liquidation of venture organizations are carried out by decision of the founders in the manner prescribed by law.

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National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/5155423

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Cite as: Article 29. Venture organizations, funds, partnerships On innovative activity (LRU-630-son). neolex.uz/en/laws/law-4910448/29 (lex.uz/docs/5155423)