LAW OF THE AZERBAIJAN REPUBLIC

of January 15, 1993 No. 457

About guarantee of prosperities

For the purpose of ensuring free use for forming of fundamentals of national economy of the Azerbaijan Republic during transition to market economy of money, currency and other prosperities of individuals and non-state legal entities in the territory of the republic, the National Assembly of the Azerbaijan Republic decides:

1. In the Azerbaijan Republic any person and non-state legal entities who are in the territory of the republic can without representation of explanations, freely to direct presentations of the declaration or other documents in production, commercial and other fields of activity which are not prohibited by the legislation and also to use at discretion the personal property which is available for them and the real estate: money, currency and other prosperities.

2. The rules and guarantees provided for foreign investments are applied to personal property and the real estate: to money, currency and other prosperities acquired by citizens of the Azerbaijan Republic in foreign countries as a result of business activity in case of their import to the Azerbaijan Republic in the form of investments.

3. In the Azerbaijan Republic immunity of prosperities of any person and non-state legal entities, non-execution of their compulsory and non-paid acquisition for benefit of the Azerbaijan Republic, confiscation, except as specified, established by the law are completely guaranteed.

4. This Law becomes effective from the date of publication.

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