The purpose of this Law is to regulate the conclusion, execution and termination of production-sharing agreements under which the Government shall grant concessions to foreign investors for mining operations. Such agreements must address: (a) project description and the period of validity of agreement; (b) the modalities for conceding subsoil for management; (c) rights and duties of the parties; (d) taxation and payments; (e) compensation and terms and conditions of production sharing; (f) dispute settlement; and (g) termination. All related licences for subsoil management shall be issued within five working days of signature of the production sharing agreement and shall be valid for the same period of time.
Ouzbékistan · 2001-12-07