Unofficial transfer (c) Soyuzpravoinform LLC

LAW OF THE AZERBAIJAN REPUBLIC

of December 5, 2023 No. 1048-VIQD

About introduction of amendments to some laws of the Azerbaijan Republic in connection with execution of the Law of the Azerbaijan Republic of July 14, 2023 No. 987-VIQ "About payment services and payment systems"

Millie Majlis of the Azerbaijan Republic, being guided by Items 10, of 15, 17 and 27 parts I of article 94 of the Constitution of the Azerbaijan Republic, in connection with execution of the Law of the Azerbaijan Republic of July 14, 2023 No. 987-VIQ "About payment services and payment systems" decides:

Article 1. Make the following changes in the Civil Code of the Azerbaijan Republic (Collection of Legal acts of the Azerbaijan Republic, 2000, No. 4 (the Book I), Article 250, No. 5, Article 323; 2002, No. 12, Article 709; 2003, No. 8, Art. 420, 2004, No. 3, Art. 123, No. 5, Art. 318, No. 6, Art. 415, No. 10, Art. 761, No. 11, Art. 901, 2005, No. 11, Art. 2, Article 61, No. 6, Article 466, No. 8, Articles 684, 692, 693, No. 11, Article 996, No. 12, Article 1085, 2006, No. 2, Article 68, No. 3, Article 225, No. 5, Article 387, No. 6, Article 478, No. 8, Article 657, No. 12, Article 1005, 2007, No. 2, Article 80, No. 6, Article 560, No. 8. Article 745, No. 10, Article 937, No. 11, article 1053, №12, of article 1215, 1219, 2008, No. 3, Article 145, No. 6, Article 456, No. 7, Article 602, No. 12, Article 1049, 2009, No. 2, Article 47, No. 5, Article 295, No. 6, Article 404, No. 7, Article 517, 2010, No. 2, Article 75, No. 3, Article 171, No. 4, Articles 265, 266, 276, 2011, No. 7, Article 586, No. 8, Article 750, No. 12, Articles 1073, 1102, 2012, No. 1, Article 5, No. 5, Article 403, No. 6, Article 498, 2013, No. 1, Article 15, No. 6, Article 620, No. 11, Article 1280, No. 12, Articles 1469, 1478; 2014, No. 2, Article 96, No. 7, Article 768; 2015, No. 3, Article 254, No. 5, Article 512, No. 7, Article 814, No. 10, Article 1093; 2016, No. 1, Article 26, No. 2 (Book I), Articles 186, 204, No. 3, Article 401, No. 4, Articles 640, 646, No. 6, Article 1005, No. 7, Article 1248, No. 12, Articles 1998, 2018; 2017, No. 2, Articles 151, 153, No. 4, Article 524, No. 5, Articles 703, 735, No. 6, Article 1035, No. 11, article 1953, No. 12 (book I), Articles 2210, 2234, 2239; 2018, No. 2, Article 142, No. 4, Article 650, No. 5, Articles 845, 851, No. 11, article 2212, No. 12 (book I), Articles 2467, 2518, 2526, 2533; 2019, No. 1, Articles 23, 50, No. 5, Articles 806, 812, 814, No. 6, Articles 994, 996, No. 7, Article 1202, No. 8, Article 1369, No. 11, Art. 1681, No. 12, Article 1908; 2020, No. 5, Article 515, No. 7, Articles 822, 832, 839, 843, No. 12 (book I), Article 1423, 1435; 2021, No. 1, Article 8, No. 4, Article 307, No. 6 (Book I), Articles 556, 558, No. 7, Article 711, No. 8, Article 894, No. 11, Article 1206, No. 12, Article 1335; 2022, No. 6, Article 580, No. 8, Articles 824, 828, 833; 2023, No. 1, Articles 7, 22, No. 3, Article 333, No. 4, Article 445, No. 6, Article 742, No. 7, Articles 881, 900, No. 8 (Book I, Article 1094):

1.1. After the word "over" to add Article 954.3 with the words "under the law and";

1.2. Under Article 959:

1.2.1. State Article 959.1 in the following edition:

"959.1. The bank shall enlist the arrived money for customer account no later than day of making of transaction (the working hours established by bank for acceptance of orders of clients and carrying out banking activities) if the legislation does not provide other rule".;

1.2.2. In Article 959.2 to replace the word of "document" with the word "orders";

1.3. In Article 961.1 shall be replaced with words the word "Client" "The client if it is provided by bank account agreement";

1.4. Under Article 965:

1.4.1. In Articles 965.2.1 and 965.2.2 of the word "documents or the executive document issued based on these documents" shall be replaced with words "the payment orders or payment orders issued based on the executive documents connected with these requirements";

1.4.2. In Articles 965.2. 965.2.4 and 965.2.6 word of "documents" to replace 3, with the word "payment orders";

1.4.3. After the word of "document" in Article 965.2.5 to add with words "the payment order issued on the basis";

1.4.4. In Article 965.3 shall be replaced with words the word of "documents" "payment orders";

1,5. State Article 971.3 in the following edition:

"971.3. Clearing settlements are perfromed by banks and other payment service providers, the central depositary according to the legislation.";

1.6. In the first offer of Article 975.3 of the word "to it upon the demand of the payer" to replace with the word to "payer", and the second offer of the specified Article to state in the following edition:

"Other requirements connected with informing after execution of the payment order are regulated by the Law of the Azerbaijan Republic "About payment services and payment systems";

1.7. Add with Article 1078-23.18-1 of the following content:

"1078-23.18-1. According to article 45.5 of the Law of the Azerbaijan Republic "About payment services and payment systems" if the calculating agent provides completion of calculations in clearing payment system by use of mechanisms of providing in the form of money, government bonds or securities issued by the Central Bank of the Azerbaijan Republic, such providing is considered financial pledge".

Article 2. Make the following changes in the Criminal Code of the Azerbaijan Republic (Collection of Legal acts of the Azerbaijan Republic, 2000, No. 4 (the Book II), Articles 251, No. 5, Articles 323, No. 12, Article 835; 2001, No. 1, Article 24, No. 7, Article 455, 2002, No. 1, Article 9, No. 5, Articles 236, 248, 258, No. 6, Article 326, No. 8, Article 465, 2003, No. 6, Articles 276, 279, No. 8, Articles 424, 425, No. 12 (book I), Article 676, 2004, No. 1, Article 10, No. 4, Article 200, No. 5, Article 321, No. 8, Article 598, No. 10, Article 762, No. 11, Article 900, 2005, No. 1, Article 3, No. 6, Article 462, No. 7, Article 575, No. 10, Article 904, No. 11, Article 994, 2006, No. 2, Articles 71, 72, 75, No. 5, Article 390, No. 12, Articles 1008, 1020, 1028, 2007, No. 2, Article 68, No. 5, Article 398, No. 6, Articles 560, 562, 579, No. 8, Article 757, No. 10, Articles 937, 941, No. 11, Articles 1049, 1080, 1090, No. 12, Article 1221, 2008, No. 6, Articles 454, 461, No. 7, Article 602, No. 10, Article 884, No. 12, Articles 1047, 1049, 2009, No. 5, Article 315, No. 7, Article 517, No. 12, Article 953, 2010, No. 2, Article 70, No. 3, Articles 171, 178, No. 4, Articles 275, 276, No. 7, Article 591; 2011, No. 4, Article 253, No. 6, Article 472, No. 7, Articles 587, 601, 621, No. 11, Article 980, No. 12, Article 1093; 2012, No. 2, Article 45, No. 3, Articles 193, 196, No. 7, Articles 666, 669, 673, No. 11, Article 1068, No. 12, Article 1223; 2013, No. 1, Article 14, No. 2, Article 102, No. 4, Article 364, No. 5, Articles 459, 479, 481, No. 6, Articles 594, 600, No. 11, Articles 1264, 1286, 1312, No. 12, Article 1492; 2014, No. 2, Articles 89, 95, No. 4, Article 327, No. 6, Articles 618, 622; 2015, No. 4, Articles 339, 359, 368, No. 5, Articles 504, 508, 510, No. 6, Articles 678, 690, 692, No. 11, Articles 1253, 1268, 1289, 1298, No. 11. 12, Articles 1437, 1445; 2016, No. 4, Articles 634, 636, 638, 653, No. 5, Article 845, No. 6, Articles 993, 1001, No. 12, Articles 1983, 1999, 2008, 2019, 2038, 2048; 2017, No. 2, Article 161, No. 3, Article 330, No. 5, Articles 694, 697, 700, 702, 733, No. 7, Articles 1268, 1271, 1293, No. 11, Articles 1968, 1978, No. 12 (I book), Article 2231; 2018, No. 3, Article 403, No. 5, Article 861, No. 6, article 1154, No. 7 (Book I), Article 1441, No. 10, Article 1972, No. 11, article 2213, No. 10. 12 (book I), Article 2472; 2019, No. 4, Article 586, No. 7, Article 1201, No. 8, Article 1367; 2020, No. 3, Article 223, No. 5, Article 518, No. 7, Article 832, No. 8, Article 1010, No. 11, Articles 1332, 1333; 2021, No. 6 (book I), Art. 541, No. 8, Art. 894, No. 12, Art. 1336; 2022, No. 5, Articles 434, 437, No. 7, Article 703, No. 8, Articles 821, 828, No. 12, Articles 1363, 1373; 2023, No. 1, Art. 39, No. 2, Art. 207, No. 4, Art. 445, No. 6, Art. 755):

2.1. In Article 195-1.1 after the word to add "bank" with the words "and other payment";

2.2. Under Article 205:

2.2.1. state the name in the following edition:

"Article 205. Production, acquisition or realization of the counterfeit payment instruments or payment documents which are not securities";

2.2.2. In Article 205.1 of the word "The Counterfeit Credit or Settlement Cards or Other Securities Which Are Not Securities" shall be replaced with words "Counterfeit payment instruments or securities";

2.3. In Article 303.1 of the word "bank or other credit institution" shall be replaced with words "including bank or other payment organization performing payment transactions".

Article 3. Make the following changes in the Tax code of the Azerbaijan Republic (Collection of the legislation of the Azerbaijan Republic, 2000, No. 8 (the Book I), Article 583; 2001, No. 7, Article 454, No. 9, Article 576). No. 12, Article 734, 2002, No. 5, Article 249, No. 12, Article 707, 2003, No. 8, article 425, No. 12 (Book I), Article 671, 2004, No. 1, Article 1, No. 11, Article 887, No. 12, Article 980, 2005, No. 2, Article 61, No. 8, Article 688, No. 12, Article 1081, 2006, No. 12, Articles 1005, 1026 2007, No. 1, Article 4, No. 6, Article 597, No. 8, Article 745, No. 11, Article 1053, No. 12, Article 1192, 2008, No. 7, article 602, No. 11, Article 960, 2009, No. 7, Article 506, 2011, No. 1, article 14, №7, of article 588, 603, No. 12, Article 1115, 2012, No. 6, Articles 500, 513, No. 7, Article 652, No. 9, Article 841, No. 12, Article 1226, 2013, No. 2, Article 91, No. 4, Article 366, No. 11, Article 1278, No. 12, Articles 1483, 1486. 1495, 2014, No. 2, Articles 94, 98, No. 6, Article 608, No. 7, Article 770, No. 8, Article 957, No. 10, Article 1158, No. 12, Article 1525, 2015, No. 1, Article 11, No. 12, Article 1433, 2016, No. 2 (book I), Article 207, No. 3, Articles 396, 402, No. 5, Article 848, No. 6, Article 973, 974, 1015, No. 7, Article 1245, No. 10, Article 1603, No. 11, Articles 1752, 1792, 1793, No. 12, Articles 2001, 2037, 2046; 2017, No. 2, Article 146, No. 5, Articles 695, 723, 737, No. 6, Article 1055, No. 7, Article 1304, No. 8, Article 1509, No. 12 (Book I), Articles 2219, 2251, 2270; 2018, No. 2, Article 149, No. 5, Article 863, No. 6, article 1193, No. 7 (Book I), Articles 1414, 1427, No. 10, Article 1962, No. 11, Articles 2186, 2210, No. 12 (I book), л.п. 2498, 2509; 2019, No. 1, Article 30, No. 4, Article 590, No. 5, Articles 796, 801, 804, 812, 814, No. 8, Articles 1364, 1373, 1378, No. 12, Article 1894; 2020, No. 5, Article 522, No. 6, Articles 668, 678, No. 7, Article 832, No. 8, Article 1013, No. 11, Articles 1328, 1334, No. 12 (Book I), Article 1439, 1441, 1454, 1455; 2021, No. 3, article 211, No. 6 (book I), Articles 541, 551, 555, No. 7, Articles 698, 711, No. 8, Article 894, No. 10, Articles 1090, 1092, No. 12, Articles 1305, 1337; 2022, No. 1, Articles 6, 7, 17, No. 6, Article 587, No. 7, Article 716, No. 8, Article 832, No. 12, Articles 1376, 1385, 1400; 2023, No. 1, Articles 1, 10, 14, 23, 36, No. 2, Article 158, No. 3, Article 336, No. 4, Articles 445, 467, No. 7, article 902, No. 8 (book I), Articles 1095, 1123, 1136):

3.1. Under Article 13.2:

3.1.1. In Article 13.2.14.2 of the word of "means of payment" shall be replaced with words "payment instruments";

3.1.2. In Article 13.2.14.3 to replace the word "payment" with the word "payment";

3.1.3. Under Article 13.2.16.14-1:

3.1.3.1. after the word of "bank" in the first paragraph to add with the words "and other payment";

3.1.3.2. consider paragraph two Article 13.2.16.14-2, and shall be replaced with words words of "this Article" in the first paragraph of this Article "Article 13.2.16.14-1 of this Code" and after the word of "bank" in Item 3 of this Article to add with the words "and other payment";

3.2. Under Article 16:

3.2.1. In Article 16.1.9 in both cases the word of "bank" shall be replaced with words "payment service providers";

3.2.2. In Article 16.1.11 of the word "in the credit institutions or persons performing bank nonresident transactions" shall be replaced with words "at payment service providers";

3.2.3. In Article 16.1.11-6.1 of the word "shall be replaced with words the faces performing banking activities" "payment service providers";

3.2.4. In Article 16.11 of the word "to bank or the other persons performing banking activities" shall be replaced with words to "payment service providers";

3.3. In Article 23.1.7 of the word to "banks or other credit institutions" shall be replaced with words to "payment service providers";

3.4. Under Article 30:

3.4.1. In Article 30.6.7-1 after the words "About Investment Funds" to add with the words "About Payment Services and Payment Systems";

3.4.2. In Article 30.6-2 of the word "to persons performing banking activities" shall be replaced with words to "payment service providers";

3.5. In Article 34.7.1 after the words "bank and" to add the word "other payment", and "bank institutions" to replace words in this Article with the words "payment service providers";

3.6. In Article 35.1 after the word "bank" in the first case to add the words "and other payment", and after the word "credit" - the word "and electronic money";

3.7. Under Article 58:

3.7.1. In Article 58.3 after the word "credit" in both cases to add the word "and electronic money";

3.7.2. In Article 58.11 of the word "in credit institutions or persons - performing banking activities - nonresidents" shall be replaced with words "at payment service providers";

3.8. Under Article 60:

3.8.1. before the word "bank" in the name to add the word to "the organizations of electronic money";

3.8.2. In Article 60.1 of the word "the organizations and" shall be replaced with words "and the organizations of electronic money";

3.8.3. After the word of "organization" in Article 60.2 to add with the words "and also organizations of electronic money";

3.9. Under Article 65:

3.9.1. In the first offer of Article 65.2 after the word "credit" to add the word "or electronic money", in the second offer after the word "credit" to add with the words "or electronic money", and to replace the words "in bank accounts" in this offer with the word "in accounts". replace;

3.9.2. After the word "credit" to add Articles 65.2.1 and 65.2.2 with the words "or electronic money";

3.9.3. In Article 65.3 of the word "bank or other credit" shall be replaced with words "the credit or electronic money";

3.9.4. In Article 65.4 of the word "in bank or other credit" shall be replaced with words "the credit or electronic money";

3.9.5. In Article 65.6 of the word "bank and other credit" shall be replaced with words "the credit and electronic money";

3.9.6. In the first offer of Article 65.7 of the word "bank, other credit" shall be replaced with words "the credit and electronic money", and in the second offer of the word "bank or other credit" shall be replaced with words "the credit and electronic money";

3.9.7. In the first offer of Article 65.7-1 after the word "bank" in the first case to add the words "and other payment", in the second case "bank" to replace the word with the word "transaction", and in the third case "bank" shall be replaced with words the word "the credit institution or the organization of electronic money", in the second (in both cases) and third (in both cases) offers "bank" to replace the word with the word "transaction", in the fourth offer shall be replaced with words the word of "Bank" "Credit institution or the organization of electronic money", shall be replaced with words the word of "bank" "credit institution or the organization of electronic money";

3.9.8. In paragraph one of Article 65.8 of the word "bank or credit" shall be replaced with words "credit or electronic money", "to banks or credit" shall be replaced with words words "credit or electronic money", and in the second paragraph after the word "credit" to add the word "and electronic money";

3.9.9. After the word "credit" to add Article 65.8-1 with the words "or electronic money";

3.10. In Article 67.1.7 after the word "bank" in both cases to add the words "and other payment";

3.11. Under Article 75:

3.11.1. After the word of "organizations" in the name of Article 75 to add the word "and also organizations of electronic money";

3.11.2. After the word of "organization" in paragraph one of Article 75.0 to add with the words "and also organizations of electronic money";

3.11.3. After the word "bank" Article 75.0.1 to add the words "and other payment";

3.12. Under Article 76:

3.12.1. after the word of "organization" in the name to add the word "and also organizations of electronic money";

3.12.2. In Article 76.1 after the word "credit" in the first case to add the word "or electronic money", and in this Article of the word "bank or credit" shall be replaced with words "the credit or electronic money", and shall be replaced with words the words "bank accounts and" "accounts and the account";

3.12.3. In Article 76.1-1 of the word "persons performing banking activities" shall be replaced with words "credit institutions or the organizations of electronic money";

3.12.4. After the word "Credit" in paragraph one of Article 76.2 to add the word "or electronic money";

3.12.5. In the first and second offers of Article 76.3 after the word to add "bank" with the words "and other payment";

3.13. After the word to add "bank" in Article 85.9.1 with the words "and other payment";

3.14. In Article 87.5 "bank" to replace the word with the word "payment";

3.15. In the first offer of the second paragraph of Article 89.15 of the word "to bank or other credit" shall be replaced with words "the credit or electronic money";

3.16. Under Article 90:

3.16.1. Article 90.3.3.4 - 90.3.5.6, 90.3.7, 90.3.8.1, the second offer of Article 90.3.20. The first offer of Article 90.3.22 (in the second case) after the word "bank" to add 8, with the words "and other payment";

3.16.2. In the second offer of Article 90.3.20. 10, in the first offer of Article 90.3.22 (in the first case), in the second offer of the first paragraph of Article 90.4 the word "bank" to replace with the word "transaction";

3.17. In Article 125.1-1 of the word "bank, branch of foreign bank in the Azerbaijan Republic or the national operator of mail service" shall be replaced with words "the payment service provider or local branch of the supplier of foreign payment services";

3.18. In Article 132.1 after the word "in bank" to add with the words "in other credit or electronic cash institution";

3.19. After the word to add "bank" in Article 133.2 with the words "other credit or electronic cash institution";

3.20. Under Article 150:

3.20.1. In Article 150.1.11 after the word "bank" in the first case to add the word "and other payment", and in this Article of the word "bank, branch of foreign bank in the Azerbaijan Republic or the national operator of mail service" shall be replaced with words "the payment service provider or branch of the foreign payment service provider in the Azerbaijan Republic";

3.20.2. After the word "bank" in Article 150.1.12 to add the word "and other payment", and in this Article - "banks, branch of foreign bank in the Azerbaijan Republic or the national operator of mail service" shall be replaced with words words "payment service providers or branch of the foreign payment service provider in the Azerbaijan Republic";

3.20.3. In Article 150.1.16 of the word "bank, branch of foreign bank in the Azerbaijan Republic or the national operator of mail service" shall be replaced with words "payment service providers or branch of the foreign payment service provider in the Azerbaijan Republic";

3.20.4. Article 150.3-1 in paragraph one "bank" to replace the word with the word "transaction";

3.20.5. In Article 150.3-3 after the word to add "bank" with the words "and other payment";

3.20.6. In Articles 150.5.1 and 150.5.3 "bank" shall be replaced with words the word "payment service provider";

3.21. In Article 166.1.1 of the word "it in bank" shall be replaced with words "it in bank and other payment";

3.22. In the first and second offers of the third paragraph of Article 169.3 of the word "bank or foreign bank" shall be replaced with words "the payment service provider and the foreign payment service provider";

3.23. Under Article 175:

3.23.1. (In both cases) and the second offer of Article 175.1 after the word "bank" to add the word "and other payment" to the first offer;

3.23.2. After the word Articles 175.2 and 175.7 to add "bank" with the words "and other платежныц";

3.24. In Articles 177.4 and 212.1 "bank" to replace the word with the word "transaction";

3.25. After the word to add "bank" in Article 220.12 with the words "and other payment";

3.26. From the first offer of paragraph two of Article 221.4.7 to exclude the word "bank", and in the second offer of the word "Bank Payment" to replace with the word "Payment".

Article 4. Make the following changes the Code of the Azerbaijan Republic about administrative offenses (Collection of the legislation of the Azerbaijan Republic, 2016, No. 2 (the Book I), Article 202, No. 3, Articles 397, 403, 429, No. 4, Articles 631, 647, 654, No. 5, Articles 835, 846, No. 6, Articles 997, 1010, No. 7, Articles 1247, 1249, No. 10, Article 1608, No. 11, Articles 1769, 1774, 1781, 1783, 1786, 1788, No. 12, Articles 1984, 2000, 2009, 2024, 2049, 2017, No. 1, Article 21, No. 2, Articles 139, 147, 152, 162, No. 3. Articles 331, 344, No. 5, Articles 698, 701, 734, 749, 754, No. 6, Articles 1020, 1033, 1036, No. 7, Articles 1273, 1296, 1297, 1299, No. 11, Articles 1964, 1966, 1969, 1979, No. 12 (book I), Article 2214, 2217, 2220, 2233, 2237, 2240, 2253, 2256, 2266, 2018, No. 1, Article 19, No. 2, Article 160, 162, 163, No. 3, Articles 383, 401, 404, No. 4, Article 646, No. 5, Articles 857, 860, 862, 876, 883, No. 6, Articles 1153, 1188, No. 7 (book I), Article 1435, 1437, 1438, No. 10, Article 1963, No. 11, Articles 2188, 2191, 2214, 2217, 2231, No. 12 (book I), Items 2473, 2475, 2499, 2507, 2512, 2522; 2019, No. 1, Articles 4, 6, 15, 18, 23, 44, No. 3, Articles 374, 389, No. 4, Articles 579, 581, 587, 595, No. 5, Articles 791, 800, 803, 804, 813, No. 6, Articles 992, 998, 1007, No. 7, Article 1193, No. 8, Articles 1364, 1367, 1368, 1381, 1383, No. 11, Articles 1682, 1686, 1696, No. 12, Articles 1883, 1900; 2020, No. 3, Article 222, No. 5, Articles 505, 515, 519, No. 6, Articles 670, 672, 681, No. 7, Articles 838, 841, 846, 854, No. 8, Article 1008, 1011, No. 9, Article 1138, No. 11, Articles 1332, 1333, 1336, No. 12 (book I), Article 1432, 1440; 2021, No. 4, Article 306, No. 5, article 428, No. 6 (Book I), Articles 535, 541, 546, 560, No. 7, Articles 701, 705, 711, No. 8, Article 894, No. 11, Article 1208, No. 12, Articles 1306, 1334; 2022, No. 1, Article 2, No. 2, Article 89, No. 4, Article 293, No. 5, Article 435, No. 7, Articles 694, 699, 703, No. 8, Articles 822, 825, 828, No. 11, Article 1236, No. 12, Articles 1364, 1399; 2023, No. 1, Articles 17, 20, 32, 39, No. 2, Articles 149, 201, 204, No. 4, Article 466, No. 6, Articles 743, 754, No. 7, Articles 905, 907, No. 8 (I book), Articles 1096, 1122, 1128; The Law of the Azerbaijan Republic No. 1008-VIQD of October 24, 2023):

4.1. After the word Article 411 to add "bank" with the words "and other payment";

4.2. Add with Article 439-2 of the following content:

"Article 439-2. Violation of the law about payment services and payment systems

439-2.1. Violation of the law about payment services and payment systems, namely:

439-2.1.1. for rendering payment services through the payment agent who is not entering the register which conducts the Central bank of the Azerbaijan Republic;

439-2.1.2. for involvement of the payment agent by payment service providers, including local branches of foreign payment service providers, rendering payment services by the payment agent, including with violation of requirements of terms of the contract, concluded with the payment agent;

439-2.1.3. for failure to provide to payment service providers in the time of information on the signed agreement on activities established by the legislation in the country of foreign payment institute, the organization of electronic money and the operator of payment system without opening of local branch;

439-2.1.4. for failure to provide in the Central bank of the Azerbaijan Republic in the time of information on activities of banks, local branches of foreign banks established by the legislation and the national operator of mail service as the issuer of electronic money, the supplier of intermediary services in carrying out payment transaction and the service provider on provision of information on the account -

officials are imposed by penalty at the rate from one thousand to three thousand manats, legal entities – at the rate from five thousand to seven thousand manats.

439-2.2. For violation of electronic money by the organization, including local branch of the foreign organization of electronic money, requirements of the legislation on safety of money -

Officials are imposed by penalty at the rate from two thousand to three thousand manats, legal entities - are imposed by penalty at the rate from seven thousand to ten thousand manats.

439-2.3. For failure to provide information on operational incidents or incidents of safety in the Central bank of the Azerbaijan Republic. in time, established by the law, or their wrong provision by the payment service provider and operator of payment system, including local branch of the foreign payment service provider and the operator of foreign payment system, -

Officials are imposed by penalty in the amount of five hundred to seven hundred manats, legal entities – are imposed by penalty at the rate from three thousand to five thousand manats.

439-2.4. For failure to provide reports in the Central bank of the Azerbaijan Republic. in time, established by the law, or their wrong provision by payment institute, the organization of electronic money and the operator of payment system, including local branch of foreign payment institute, -

Officials are imposed by penalty at the rate from one thousand to one thousand five hundred manats, legal entities are imposed by penalty at the rate from three thousand to five thousand manats".

4.3. In Article 547.2 of the word "and bank" shall be replaced with words ", bank and other payment", and "authorized banks" shall be replaced with words words "payment service providers".

Article 5. In the Law of the Azerbaijan Republic "About auditing service" (Sheets of the Supreme Council of the Azerbaijan Republic, 1995, No. 7, Article 114; The Legislative collection of the Azerbaijan Republic, 1997, No. 3, Article 226, of 2001, No. 11, Article 683, No. 12, Article 736, of 2002, No. 5, Article 241, of 2003, No. 1, Article 21, of 2004, No. 3, Article 133, of 2005, No. 8 of 684, of 2007, No. 11, Article 1053, of 2008, No. 3, Article 152, of 2009, No. 7, Article 517, of 2010, No. 11, Article 938, of 2011, No. 4, Article 246, 2019, No. 1, Article 25, No. 6, Article 993, 2023, No. 8 (the Book I), Article 1108) to make the following changes to Article 13 part one:

5.1. at the end of the ninth – paragraphs point to replace the twelfth with semicolon;

5.2. add with the paragraph the thirteenth the following content:

"in the cases provided by the law to inform the body (organization) determined by the law on the violations and shortcomings revealed during check and to carry out other obligations in the cases provided by the law".

Article 6. Make the following changes to the Law of the Azerbaijan Republic "About currency control" (Sheets of the Supreme Council of the Azerbaijan Republic, 1995, No. 7, Article 116; Legislative collection 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., No. 8 (book I), Article 1101):

6.1. On Article 1 part one:

6.1.1. To state subitems "b" and "v" of Item 1 in the following edition:

"b) means in manats on accounts in credit institutions and the national operator of mail service of the Azerbaijan Republic, and also at other payment service providers according to the Law of the Azerbaijan Republic "About payment services and payment systems", including electronic money in manats;

c) means in manats on accounts in credit institutions and other organizations of the payment services which are outside the Azerbaijan Republic including electronic money in manats.";

6.1.2. After the word "means" in the paragraph of Item 3 to add with the words "including electronic money in foreign currency";

6.1.3. After the word "from outside" "д" Item 10 to add the paragraph with the words "according to the law";

6.1.4. In Item 11 after the word to add "branches" with the words "payment institutes, organizations of electronic money, foreign payment institutes and local branches of the organizations of electronic money";

6.2. After the word of "company" regarding the 2nd Article 3 to add. words "the payment institutes, the organizations of electronic money, foreign payment institutes and local branches of the foreign organizations of electronic money having the license according to the Law of the Azerbaijan Republic "About payment services and payment systems".

Article 7. The law of the Azerbaijan Republic "About insolvency е and bankruptcy" (Collection of Legal acts of the Azerbaijan Republic, 1997, No. 6, Article 460; 2001, No. 1, Article 25, No. 6, Article 362; 2002, No. 5, Article 241, of 2006, No. 3, Article 225, of 2007, No. 5, Article 401, of 2008, No. 5, Article 348, of 2010, No. 4, Article 276, of 2015, No. 4, Article 355, 11, Article 1260, of 2017, No. 3, Article 332, No. 5, Article 736, of 2018, No. 4, Article 652, No. 12 (the Book I), Article 2529, of 2019, No. 1, Article 28, No. 4, Article 600, No. 6, Article 993, of 2020, No. 5, article 515, No. 12 (the Book I), Article 1453, of 2021, No. 11, Article 1206, of 2023, No. 4, Article 447) to add No. with Article 53-1 of the following content:

"Article 53-1. Features of repayment of requirements of creditors of payment institute and organization of electronic money

According to the Law of the Azerbaijan Republic "About payment services and payment systems", requirements of the payment organization debtor and other creditors of the organization of electronic money cannot be directed to means of users of payment services in these organizations and the assets acquired at the expense of these means. These funds are allocated for extraordinary payment of user requirements of payment services".

Article 8. The law of the Azerbaijan Republic "About the state fee" (Collection of the Legislation of the Azerbaijan Republic, 2001, No. 12, Article 740; 2002, No. 12, Article 706; 2003, No. 1, Article 23). No. 8, article 428, No. 12 (book I), Articles 676, 698, 2005, No. 1, Article 1, No. 6, Article 462, No. 8, Article 684, No. 10, Article 873, 905, No. 12, Article 1083, 2006, No. 3, Articles 223, 225, No. 6, Article 481, No. 12, Articles 1015, 1029, 2007, No. 2, Article 80, No. 12, Article 1203, 2008, No. 3, Article 158, No. 6, Article 462, No. 7, Article 602, No. 12, Article 1047, 2009, No. 1, Article 5, No. 2, Article 56, No. 3, Article 160, No. 7, Article 519, No. 12, Article 947, 2010, No. 4, Article 276, No. 6, Article 485, No. 10, Article 840, No. 11, Article 939; 2011, No. 1, Article 12, No. 4, Articles 245, 264, No. 11, Article 985, No. 12, Article 1100, 2012, No. 1, Article 4, No. 6, Articles 508, 518, No. 7, Article 646, No. 10, Article 947, No. 12, Articles 1216, 1227, 1229, 2013, No. 3, Article 213, No. 5, Article 474, No. 11, Articles 1269, 1279, 1299, 1301, 1308, No. 12, Article 1485, 2014, No. 1, Article 6, No. 5, Article 468, No. 6, Articles 603, 605, No. 7, Articles 774, 780, No. 11, Article 1345, 1370; 2015, No. 12, Article 1432; 2016, No. 1, Articles 15, 36, No. 4, Article 630, No. 5, Article 849, No. 6, Article 1014, No. 10, Article 1605, No. 11, Articles 1753, 1776, 1780, 1790, No. 12, Articles 2006, 2051; 2017, No. 3, Articles 337, 341, No. 5, Article 742, No. 6, Article 1028, No. 7, Article 1308, No. 8, article 1506, No. 12 (Book I), Article 2265; 2018, No. 3, Articles 405, No. 4, Articles 639, 647, No. 6, Articles 1186, 1194, No. 7 (book I), Article 1415, 1444, No. 8, article 1675, No. 12 (book I), Article 2489; 2019, No. 1, Article 45, No. 4, Articles 571, 596, No. 5, Article 797, No. 7, Articles 1176, 1181, 1190, 1192, No. 8, Articles 1360, 1363, 1371, No. 11, Articles 1681, 1694; 2020, No. 5, Articles 521, 524, No. 6, Article 665, No. 7, Articles 824, 828, 837, 851, 853, No. 11, article 1327, No. 12 (Book I), Article 1423; 2021, No. 2, article 117, No. 6 (book I), Article 554, No. 7, Articles 711, 714, 718, No. 8, Article 898, No. 10, Article 1094, No. 11, Article 1207, No. 12, Article 1314; 2022, No. 5, Article 427, No. 8, Article 829, No. 10, Article 1125, No. 12, Articles 1366, 1379, 1389; 2023, No. 1, Articles 11, 19, No. 2, Article 210, No. 3, Article 337, No. 4, Article 463, No. 6, article 742, No. 8 (Book I), Article 1126; The Laws of the Azerbaijan Republic 1012-VIQD and 1016-VIQD of October 24, 2023) to add with Article 22.0.34-2 of the following content:

22.0.34-2. Activities in the field of payment services and payment systems:
22.0.34-2.1. activities of payment institute	2000 manat
22.0.34-2.2. organization activity of electronic money	3000 manat
22.0.34-2.3. activities of the operator of payment system	2500 manat

Article 9. The law of the Azerbaijan Republic "About state registration and the state register of legal entities" (Collection of the Legislation of the Azerbaijan Republic, 2004, No. 1, Article 8; 2005, No. 1, Article 1, No. 8). Article 700, 2006, No. 2, Article 70, 2008, No. 2, Article 49, 2010, No. 4, Article 265, 2012, No. 1, Article 2, No. 7, Article 651, 2013, No. 12, Article 1479, 2014, No. 2, Article 78, No. 7, Article 769, No. 11, Article 1356, No. 12, Article 1526, 2015, No. 11, Article 1259, 2016, No. 4, Article 644, No. 10, Article 1606, 2017, No. 5, Articles 709, 724, No. 10, Article 1775, 2018, No. 12 (Book I), Articles 2471, of 2531, of 2019, No. 1, of Article 16, of 21, No. 2, Article 176, No. 6, Article 999, No. 7, Article 1203, of 2020, No. 6, Article 675, No. 8, Article 1017, No. 11, of Article 1323, 1335 2021, No. 12, Article 1312, of 2022, No. 8, Article 827, of 2023, No. 1, of Article 2, of 41, No. 2, Article 179, No. 5, article 628, No. 8 (the Book I), 1107, of 1136) Article 15.9.3-1 after the words "About Investment Funds" to add Articles with words "and" about payment services and payment systems".

Article 10. Make the following changes to the Law of the Azerbaijan Republic "About banks" (Collection of Legal acts of the Azerbaijan Republic, 2004, No. 3, Article 130; 2005, No. 4, Article 276; 2007, No. 5, Article 401). No. 6, Article 562, No. 11, Article 1070, 2008, No. 11, Article 960, 2009, No. 6, Article 404, No. 7, Article 517, 2010, No. 4, Article 276, No. 10, Article 839, 2011, No. 7, Article 590, 2013, No. 7, Article 790, 2014, No. 7, Article 772, No. 12, Article 1517, 2015, No. 11, Article 1262, 2016, No. 3, Article 406, No. 6, Article 975, 2017, No. 4, Article 521, No. 11, article 1956, No. 12 (Book I), Article 2227, 2018, No. 1, Article 33, No. 5, article 842, No. 7 (book I), article 1389, No. 12 (book I), Article 2466, 2019, No. 1, Articles 32, 50, No. 4, article 599, No. 2019. 6, Article 999, No. 7, Article 1185, No. 8, Article 1365, 2020, No. 5, Article 515, 2021, No. 1, Article 8, No. 11, Article 1206, No. 12, Article 1298. 2022, No. 12, Articles 1379, 1399, 2023, No. 1, Article 41, No. 2, Article 159, No. 3, Article 334, No. 4, Article 456, No. 5, Article 621, No. 7, Article 913):

10.1. After the word "means" in Article 1.0.10 to add with words "(except for the means accepted to release of electronic money)";

10.2. State Articles 32.1.4 and 32.1.5 in the following edition:

"32.1.4. clearing, payment services, including settlement and cash servicing, the organization of payment systems, implementation of payments on transactions with securities;

32.1.5. release of checks and bills of exchange;";

10.3. Under Article 36:

10.3.1. In Article 36.1 of the word "to this Code" shall be replaced with words "About payment services and payment systems" the Azerbaijan Republic, and also to this Code and the Law;

10.3.2. In the second offer of the first paragraph of Article 36.2 after the word to "Law" to add with words "and to the Law of the Azerbaijan Republic "About payment services and payment systems";

10.4. Under Article 38:

10.4.1. state the name in the following edition:

"Article 38. Payment transactions and calculations";

10.4.2. State Article 38.1 in the following edition:

"38.1. Banks perfrom payment transactions and calculations according to the Civil code of the Azerbaijan Republic, the Law of the Azerbaijan Republic "About payment services and payment systems", and also the regulations adopted by the Central bank according to specified by the Code and the Law, practice of business conduct and to the relevant agreements applied in banking practice.";

10.4.3. Repeal Article 38.3;

10.5. At the end of Article 41.2.17 to replace point with semicolon and to add with Article 41.2.18 of the following content:

"41.2.18. when rendering payment services - to other payment service providers, receivers of money and other persons participating in implementation of payment transaction.";

10.6. After words of "this Law" in Article 47.1 to add with the words "About Payment Services and Payment Systems".

Article 11. In the Law of the Azerbaijan Republic "About the digital signature and the electronic document" (Collection of Legal acts of the Azerbaijan Republic, 2004, No. 5, Article 310; 2008, No. 6, Article 464; 2016, 12, Article 2013, of 2019, 1, Article 36, of 2023, No. 2, Article 193, No. 4, Article 453) Article 1.1.15 to state No. to No. in the following edition:

"1.1.15. The electronic document – the content which is stored electronically including the text, sound, the image or audiovisual form;".

Article 12. Make the following changes to the Law of the Azerbaijan Republic "About mail" (Collection of Legal acts of the Azerbaijan Republic, 2004, No. 8, Article 604; 2007, No. 5, Article 442; 2008, No. 11, Article 958). 2009, No. 7, Article 517, 2010, No. 4, Article 276, 2014, No. 10, Article 1148, 2016, No. 3, Article 409, No. 10, Article 1602, 2017, No. 1, Article 6, No. 11, Articles 1957, 1960, No. 12 (book I), Article 2223, 2018, No. 7 (book I), Article 1390, 2019, No. 1, Article 32, 2021, No. 12 (Article 1298; 2022, No. 12, Article 1399; 2023, No. 8 (Book I), Article 1099; The Law of the Azerbaijan Republic of October 24, 2023 No. 1015-VIQD):

12.1. In Article 1.0.20 after the word "means" to add with words "(except for the means accepted to release of electronic money)";

12.2. State Article 13-1.1.5 in the following edition:

"13-1.1.5. rendering payment services, organization of payment systems, issue of postal checks;";

12.3. Under Article 13-3:

12.3.1. After the word "activities" in the first offer of Article 13-3.1 to add with the words "and also activities for rendering payment services";

12.3.2. Add with Article 13-3.2-1 of the following content:

"13-3.2-1. Activities of the national operator in the field of payment services, including release and (or) acquisition of electronic money, and also in the field of payment systems are performed according to this Law taking into account requirements of the Law of the Azerbaijan Republic "About payment services and payment systems".

Article 13. In the Law of the Azerbaijan Republic "About the Central Bank of the Azerbaijan Republic" (Collection of Legal acts of the Azerbaijan Republic, 2004, No. 12, Article 984; 2005, No. 11, Article 1004; 2007, 6, Article 562, No. 10, Article 938, No. 12, Article 1196, of 2009, No. 6, Article 404, No. 7, Articles 507, of 517, of 2010, No. 10, Article 839, of 2011, No. 7, Article 612, of 2014, No. 11, Article 1371, of 2015, No. 6, Article 684, No. 11, Article 1296, of 2016, No. 3, Article 405, No. 11, Article 1771, of 2017, No. 5, Article 740, No. 7, Articles 1302, of 1309, No. 11, Articles 1951, of 1958, of 2019, No. 4, Article 599, No. 7, Article 1180, No. 8, Article 1365, of 2023, No. 4, Article 453, No. 7, Article 912) in Article 46.1 after the word "managing directors" to add No. with the words "payment institutes, organizations of electronic money, operators of payment systems".

Article 14. In the Law of the Azerbaijan Republic "About deposit insurance" (Collection of Legal acts of the Azerbaijan Republic, 2007, No. 2, Article 79; 2009, No. 6, Article 400, No. 7, Article 517; 2016), 3, Articles 394, of 421, of 2017, No. 7, Article 1310, of 2019, No. 1, Article 31, of 2020, No. 7, article 825, No. 12 (the book I), Article 1437, of 2023, No. 2, Article 163, No. 4, article 451, No. 8 (the book I), Article 1100) in Article 2.1.1 before the word "settlement" to add No. with the words "except for the means accepted by bank on release of electronic money".

Article 15. In the Law of the Azerbaijan Republic "About non-bank credit institutions" (Collection of Legal acts of the Azerbaijan Republic, 2010, No. 2, Article 72; 2013, No. 7, Article 789; 2014, No. 10, Article 1160, of 2016, No. 3, Article 407, No. 4, Article 641, of 2017, No. 12 (the Book I), Article 2228, of 2018, No. 5, Article 844, No. 6, Article 1171, of 2019, No. 1, Article 32, No. 5, Article 815, of 2021, No. 12, Article 1298, of 2023, No. 2, Article 166, No. 3, Article 334, No. 4, Article 452, No. 7, Article 914) in Article 15.2.5 the word "services" shall be replaced with words "and (or) services of the payment agent".

Article 16. In the Law of the Azerbaijan Republic "About licenses and permissions" (Collection of the legislation of the Azerbaijan Republic, 2016, No. 4, Article 632, No. 12, Articles 2017, 2036; 2017, No. 4, Article 520, No. 5, Article 743, of 2018, No. 6, Article 1187, of 2019, No. 1, Article 28, No. 5, Article 797, No. 6, Article 986, No. 8, Article 1360, No. 11, Article 1692, No. 12, Article 1903, of 2020, No. 6, Article 662, of 2021, No. 6 (the book I), Article 551, No. 7, Article 701, No. 12, of Article 1315, 1329, 1339, of 2022, No. 5, Article 426, of 2023, No. 2, of Article 169, of 205, of 210, No. 4, article 449, No. 8 (the book I), Article 1125, the Law of the Azerbaijan Republic No. 1007-VIQD of October 24, 2023) in Article 3.4 after the words "About Currency Control" to add with the words "About Payment Services and Payment Systems"".

Article 17. Make the following changes to the Law of the Azerbaijan Republic "About fight against legalization of the property received in the criminal way, and terrorism financing" (Collection of Legal acts of the Azerbaijan Republic, 2023, No. 1, article 37, No. 8 (the Book I), Article 1109):

17.1. Before the word "virtual" in Article 1.1.8 to add with the words "payment institutes (except for the payment institutes rendering intermediary services and (or) servicing of accounting information) and the organizations of electronic money";

17.2. In the first offer of Article 1.1.23 and Article 11.3.3 after the word to add "bank" with the words "and other payment";

17.3. After the word "in bank" in Article 9.1 to add the word "and other payment service providers".

Article 18. This Law becomes effective in one day with the Law of the Azerbaijan Republic of July 14, 2023 No. 987-VIQ "About payment services and payment systems".

 

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