LAW OF THE AZERBAIJAN REPUBLIC

of May 31, 2018 No. 1159-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About banks"

Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, for the purpose of reduction of the Law of the Azerbaijan Republic "About banks" in compliance with the Law of the Azerbaijan Republic "About introduction of amendments to the Law of the Azerbaijan Republic "About counteraction of legalization of the money received in the criminal way or other property and to terrorism financing" of June 13, 2017 No. 736-VQD, Millie decides Majlis of the Azerbaijan Republic:

Bring in the Law of the Azerbaijan Republic "About banks" (Collection of the legislation of the Azerbaijan Republic, 2004, No. 3, Article 130; 2005, No. 4, Article 276; 2007, No. 5, Article 401, No. 6, Article 562, No. 11, Article 1070; 2008, No. 11, Article 960; 2009, No. 6, Article 404, No. 7, Article 517; 2010, No. 4, Article 276, No. 10, Article 839; 2011, No. 7, Article 590; 2013, No. 7, Article 790; 2014, No. 7, Article 772, No. 12, Article 1517; 2015, No. 11, Article 1262; 2016, No. 3, Article 406, No. 6, Article 975; 2017, No. 4, Article 521, No. 11, Article 1956, No. 12, I book, Article 2227; 2018, No. 1, Article 33; The Law of the Azerbaijan Republic of April No. 1050-VQD) 3 the following changes:

1. give Article 39.2 in the following edition:

"39.2. Banks shall provide storage of identification and verification documents, and also the documents concerning transactions with money or other property during the term specified in article 10 of the Law of the Azerbaijan Republic "About counteraction of legalization of the money received in the criminal way or other property and to terrorism financing".

2. in the second paragraph of Article 42.1 the word of "beneficiary" shall be replaced with words "beneficiary owner".

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