of November 29, 1996 No. 208-IG
About approval of the Regulations on procedure for transformation of the state company to joint-stock company
Millie decides Majlis of the Azerbaijan Republic:
1. Approve "Regulations on procedure for transformation of the state company to joint-stock company".
2. This Law becomes effective from the date of its publication.
President of the Azerbaijan Republic
Heydar Aliyev
Approved by the Law of the Azerbaijan Republic of November 29, 1996 No. 208-IG
1. This Provision establishes rules of transformation of the state companies to joint-stock companies in case of privatization of state-owned property.
2. When transforming the state companies to joint-stock companies and their privatizations of the right of the workers working at these companies, and also social protection of the population are provided according to the current legislation of the Azerbaijan Republic.
3. The decision on transformation of the company to joint-stock company are accepted by relevant organs of the executive authority according to classification of objects of state-owned property in relation to privatization.
4. In case of privatization of the state companies their transformation to joint-stock company is performed on the basis of the plans of privatization developed by the Commissions on privatization created at these companies, and approved by relevant organ of the executive authority of the Azerbaijan Republic.
5. In case of privatization of the state companies as the founder of joint-stock companies to which the state companies will be transformed on behalf of the state the relevant organ of the executive authority enters.
6. Activities of the joint-stock company formed on the basis of incorporating in case of privatization of the state company, are performed according to the current legislation, taking into account the features determined by this Provision.
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