According to international practice, the company’s corporate governance as a key factor in the efficient operation of the system is directly related to the introduction of such a code of practice. It is estimated that worldwide, more than 100 such documents. At the same time, in some countries, have enhanced its operation, monitor the process of implementation of the new edition.
For example, in 2003 in Japan, Germany, the United Kingdom and the Russian Federation in 2014, while in Japan, since 2015, applied to the implementation of the new edition of the Code of Corporate Governance.
During the years of independence on the part of corporate management and market relations in our country pays great attention to the formation of normative-legal base. In particular, April 24, 2015, the President of the Republic of Uzbekistan «On joint-stock companies to introduce modern methods of corporate governance Decree» On measures on the basis of the requirements of the current stage of reforms in this area to improve without taking into account the principles of international law, or l opened. According to him, Germany and other developed countries have successfully studied the experience of the Corporate Governance Code has been developed, approved and implemented.
The general meeting of shareholders to decide whether to comply with the recommendations to be adopted by a simple majority of votes. Some of its recommendations obedience to the absence of the possibility of joint-stock company «apply or explain» principle, rely on their causes through the mass media will have to reveal the details. Have committed to accept the recommendations of the Code and compliance with information from the mass media society, including the corporate Web site, the site of the stock exchange, as well as through other sources of disclosure of information stipulated by the law . Joint-stock company out of its own network and operating characteristics of the implementation of the recommendations of the code for internal corporate action.