LAW OF THE AZERBAIJAN REPUBLIC

of November 30, 2018 No. 1359-VQD

About modification of the Law of the Azerbaijan Republic "About public debt"

Being guided by Item 15 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

Article 1

Make the following changes to the Law of the Azerbaijan Republic "About public debt" (Collection of the legislation of the Azerbaijan Republic, 2007, No. 8, Article 748, No. 11, Article 1093; 2010, No. 4, Article 276; 2016, No. 11, Article 1772; 2017, No. 5, Article 704, No. 12, I book, Article 2252):

1.1. under Article 1:

1.1.1. Article 1. 1.5 and 1.11 to give 4, in the following edition:

"1.4. the state guarantee - the financial liability which was undertaken by the Azerbaijan Republic according to the procedure, established by this Law on complete or partial obligation fulfillment before the creditor on debt in case of not return to the creditor by the main borrower of debt according to conditions and terms of return coordinated with the creditor;

1.5. state loan - attraction for certain term on behalf of the Azerbaijan Republic of financial resources in case of approval of the creditor of conditions of their return by residents and nonresidents of the Azerbaijan Republic;";

"1.11. Fund of providing - the trust budget fund created according to article 13.1 of this Law.";

1.1.2. add with Article 1.10-1 of the following content:

"1.10-1. refinancing of public debt - repayment by the body (organization) established by relevant organ of the executive authority of the available public debt by the financial means raised by means of new state borrowing;";

1.2. under Article 5:

1.2.1. in Article 5.2.6 before the word "state" to add with words "taking into account requirements of article 25.3-1 of the Law of the Azerbaijan Republic "About budget system";

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