THE LEGAL NATURE AND REGULATION OF THE AFFILIATED PERSONS INSTITUTE IN CORPORATIONS
DOI:
https://doi.org/10.47390/SPR1342V6SI1Y2026N34Keywords:
affiliated person, interested-party transaction, tunnelling, conflict of interest, disclosure, register, minority shareholders.Abstract
The affiliated persons (related parties) institute is one of the central mechanisms of corporate law and is directly connected with conflicts of interest, interested-party (related party) transactions, disclosure, the fiduciary duties of directors and supervisory bodies, and the protection of minority shareholders. In Uzbekistan, the term “affiliated person” and related concepts appear in various legal sources; however, a unified conceptual model, a consistent approach to maintaining the register, disclosure standards, and an integrated liability framework have not yet been sufficiently consolidated. This article explains the legal nature of affiliation, analyzes the fragmented regulation in Uzbekistan’s legal framework, provides a comparative review of the approaches of the EU (SRD II), the United Kingdom (the Companies Act and Listing Rules), and Germany (ARUG II), and substantiates proposals for normative and institutional improvements for Uzbekistan.
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