of October 30, 2018 No. 1296-VQD
About introduction of amendments to the Law of the Azerbaijan Republic "About banks"
Being guided by Items 10 and 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:
Make the following changes to 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, Article 2227; 2018, No. 1, Article 33, No. 5, Article 842, No. 7, Article 1389):
1. in Article 19.1 after the word "is created" to add with the word "also performs activities".
2. add Article 23 with the second offer of the following content:
"Powers of executive body of Society cannot be delegated to other legal entity or the business owner (managing director) according to the agreement.".
3. exclude from Article 24.1.8 of the word "and Auditing committee", "these governing bodies" and in the specified Article before words of "administrators of bank" to add with the words "taking into account requirements of this Law".
4. in the second offer of Article 24.3 after the words "general meetings" to add with words "(including again and repeatedly convened general meetings)".
5. in the second offer of part one of Article 24.5 after the word of "everyone" to add with the word of "following", the second offer of part two after the word "procedure" to add with the words "and terms".
6. Add with Article 25.1.5-1 of the following content:
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