Approved by the Order of the Chairman of the State committee on securities in case of the President of the Azerbaijan Republic of May 24, 2000 No. 72

Rules of release and the circulation of corporate bonds in the territory of the Azerbaijan Republic

I. General provisions

1.1. These rules are developed according to the Law Azerbaijani "About securities", the Provision "About the State Committee on Securities in case of the President of the Azerbaijan Republic" approved by the Presidential decree of the Azerbaijan Republic of July 26, 1999 No. 161, and the Provision "About Release and Registration of Issued Securities in the territory of the Azerbaijan Republic" approved by the order of the chairman of the State committee on securities in case of the President of the Azerbaijan Republic of November 4, 1999 No. 59.

1.2. These rules extend to release and the circulation of corporate bonds (further - the bond) the legal entities acting in the territory of the Azerbaijan Republic irrespective of pattern of ownership.

II. Issue stages

2.1. Bond emission consists of the following stages:

2.1.1. Decision making of the issuer by authority about bond issue;

2.1.2. Registration of the prospectus of the issue of bonds;

2.1.3. State registration of bonds;

2.1.4. Placement of bonds;

2.1.5. Registration of the report on bond issue results.

III. Decision on release

3.1. The decision on bond issue is made by the relevant authority of the issuer;

3.2. In the decision on bond issue the following shall be specified:

3.2.1. Full name of the issuer and his legal address;

3.2.2. Decision date about bond issue;

3.2.3. The name of authority of the issuer who made the decision on bond issue;

3.2.4. Type of bonds;

3.2.5. Procedure for placement of bonds;

3.2.6. The owner's rights affirmed in one bond;

3.2.7. Obligations of the issuer to bondholders;

3.2.8. The number of bonds in this release;

3.2.9. Form of bonds (documentary or paperless, nominal or to bearer);

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