LAW OF THE AZERBAIJAN REPUBLIC

of June 30, 2017 No. 758-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About deposit insurance"

Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

In the Law of the Azerbaijan Republic "About deposit insurance" (Collection of the legislation of the Azerbaijan Republic, 2007, No. 2, Article 79; 2009, No. 6, Article 400, No. 7, Article 517; 2016, No. 3, of Article 394 and 421) to make the following changes:

1. State Article 6.2 in the following edition:

"6.2. One representative of the Central bank, three representatives of relevant organs of the executive authority and on representation of participating banks two of their representatives are part of the Board of trustees one representative of supervision body behind the financial markets.".

2. In Articles 8.1.1 - 8.1.4, 8.1.10, 8.1.13 and 8.1.16 shall be replaced with words the word of "Fund" "from approval of relevant organ of the executive authority … Fund".

3. In Articles 8.1.5 and 8.1.18 shall be replaced with words the word of "compensations" "from approval of relevant organ of the executive authority … compensations".

4. In Article 8.1.8 the word of "participants" shall be replaced with words "from approval of relevant organ of the executive authority … participants".

5. In Article 8.1.9 after the word "cases" to add with the words "from approval of relevant organ of the executive authority".

6. In Article 9.1 of the word "Board of trustees" shall be replaced with words "relevant organ of the executive authority".

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