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LAW OF THE AZERBAIJAN REPUBLIC

of July 6, 2023 No. 945-VIQD

About modification of the Law of the Azerbaijan Republic "About currency control"

Being guided by Items 10, 15 and 27 parts 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 currency control" (Sheets of the Supreme Council of the Azerbaijan Republic, 1995, No. 7, Article 116; Collection of the legislation of the Azerbaijan Republic, 2001, No. 12, Article 737; 2003, No. 1, Article 1; 2006, No. 3, Article 225; 2007, No. 6, Article 562, No. 12, Article 1216; 2009, No. 7, Article 517; 2010, No. 4, Article 276; 2014, No. 10, Article 1168; 2016, No. 3, Article 423; 2017, No. 5, Article 741, No. 7, Article 1291; 2018, No. 5, Article 847; 2019, No. 1, Article 30, No. 3, Article 387; 2021, No. 12, Article 1298; 2022, No. 12, Articles 1379, 1398; 2023, No. 1, Article 41, No. 2, Article 153) to make the following changes:

1.1. under Article 1:

1.1.1. regarding 7-2 words "legal and physical resident persons" shall be replaced with words "legal resident person whose exclusive object of activity are currency and exchange activities";

1.1.2. cancel part 12;

1.1.3. add with parts 13 and 14 of the following content:

"13. considerable share - immediate or indirect possession of shares, component twenty and more percent of the authorized (joint) capital, and also the right of vote or significant effect on decision making by the legal entity allowing to have which participant is based on the agreement.

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