LAW OF THE AZERBAIJAN REPUBLIC

of May 15, 2015 No. 1283-IVQD

About modification of the Civil code of the Azerbaijan Republic

Being guided by Item 10 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

In the Civil code of the Azerbaijan Republic (Collection of the legislation of the Azerbaijan Republic, 2000, No. 4, book I, Article 250, No. 5, Article 323; 2002, No. 12, Article 709; 2003, No. 8, Article 420; 2004, No. 3, Article 123, No. 5, Article 318, No. 6, Article 415, No. 10, Article 761, No. 11, Article 901; 2005, No. 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, No. 12, Articles 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. 4, Articles 265, 266, 276; 2011, No. 7, Article 586, No. 8, Article 750, No. 12, Article 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) to make the following changes:

1. Add with Article 49-1 of the following content:

"Article 49-1. Procedure for the conclusion legal entity of transactions with affiliates

49-1.1. The transaction with the affiliate is any transaction, the agreement or set of the connected bargains which are concluded between the legal entity and the affiliate of this legal entity. Affiliates of the legal entity are:

49-1.1.1. head and board members (supervisory board) and executive body of the legal entity;

49-1.1.2. head of the structural unit (branch, representation, management and so forth) legal entity;

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