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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of September 7, 2023 No. 2318

About creation of Private company "Holding of defense industry Azersilakh and modification of the "Provision on the Ministry of defense industry of the Azerbaijan Republic" approved by the Presidential decree of the Azerbaijan Republic of September 27, 2006 No. 462

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of reduction of defense industry of the country in compliance with modern requirements and providing military hardware of army due to internal production, achievement of transformation of Azerbaijan into one of the main industrial centers on production of weapon in the region, and also increases in competitiveness of the state companies functioning in this area using the best practices of corporate management, stability in financial and economic activities, further strengthening of control of their income and expenses, I DECIDE managements on the basis of the single principles:

1. Create Private company "Holding of defense industry Azersilakh in subordination of the Ministry of defense industry of the Azerbaijan Republic (further - Society).

2. Determine that:

2.1. Society performs production organization, export, sale of weapon, performs work in the field of management of the legal entities who are under its supervision on the basis of the single principles, enhancement of their activities, improvement of financial stability and stability;

2.2. for implementation of the common directorship activities of Society and control of it create the Supervisory board as a part of 3 (three) members, including the chairman;

2.3. the current management of activities of Society is performed by the CEO.

3. Place under authority of the Society Limited liability company "Of the Iglim scientific and production enterprise which is under supervision of the Ministry of defense industry of the Azerbaijan Republic and the Senayedzhikhaz scientific and production enterprise;

4. To assign implementation of powers of general meeting in Society on:

4.1. President of the Azerbaijan Republic:

4.1.1. reorganization and abolition of Society;

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