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LAW OF THE AZERBAIJAN REPUBLIC

of July 6, 2023 No. 934-VIQD

About modification of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic"

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

Article 1. In the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" (Collection of the legislation of the Azerbaijan Republic, 2004, No. 12, Article 984; 2005, No. 11, Article 1004; 2007, No. 6, Article 562, No. 10, Article 938, No. 12, Article 1196; 2009, No. 6, Article 404, No. 7, Articles 507, 517; 2010, No. 10, Article 839; 2011, No. 7, Article 612; 2014, No. 11, Article 1371; 2015, No. 6, Article 684, No. 11, Article 1296; 2016, No. 3, Article 405, No. 11, Article 1771; 2017, No. 5, Article 740, No. 7, Articles 1302, 1309, No. 11, Articles 1951, 1958; 2019, No. 4, Article 599, No. 7, Article 1180, No. 8, Article 1365; 2023, No. 4, Article 453) to make the following changes:

1.1. under Article 3:

1.1.1. in the name after the word of "organization" to add with the words "and the legal entities created by it";

1.1.2. To consider the text of Article 3 Article 3.1 and to add with Article 3.2 of the following content:

"3.2. Due to the realization of the purposes and functions the Central bank has the right to create and participate in legal entities for the purpose of ensuring functioning of infrastructure of the financial markets, and also advanced training of the employees working in the financial markets.";

1.2. state Articles 4.2 and 5.0 in the following edition:

"4.2. Central Bank without prejudice to the main objective provides financial stability within the powers established by the laws regulating the financial markets.";

"5.1. Functions of the Central bank consist in the following:

5.1.1. determination and realization of monetary and course management of the state;

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