LAW OF THE AZERBAIJAN REPUBLIC

of May 15, 2015 No. 1285-IVQD

About modification of the Civil code of the Azerbaijan Republic

Being guided by Items 10, 11 and 26 parts 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, I book, 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. 2, Article 75, No. 3, Article 171, No. 4, Articles 265, 266, 276; 2011, No. 2, Article 71, 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; The Law of the Azerbaijan Republic of May 15, 2015 of the 15th No. 1283-IVQD) to make the following changes:

1. give Article 106-2.2 in the following edition:

"106-2.2. The shareholder register of joint-stock company shall conduct the central depositary."

2. in the second offer of Article 135.1 after the word "and" to add with the word "documentary".

3. in the second offer of Article 182.2 after the word "to money" to add with the word "documentary".

4. in Article 194.5 "order" shall be replaced with words the word "nominal documentary".

5. in Article 303.5 "valuable" shall be replaced with words the word "documentary valuable".

6. add with Article 403-1 of the following content:

"Article 403-1. Derivative financial instruments

403-1.1. The derivative financial instrument is the agreement confirming the right to purchase, realization or replacement of any underlying asset. Securities, currency, interest rate, profitability, the production financial instrument, goods, financial index, credit risk, etc. can act as underlying asset.

403-1.2. The procedure for placement and the address by means of stock exchange of derivative financial instruments in the standardized form is established by relevant organ of the executive authority.

403-1.3. The future, the option and swap belong to derivative financial instruments.

403-1.4. The future is derivative financial instrument of purchase sale of underlying asset in the established type and quantity in in advance stipulated time and the price.

403-1.5. The option is the derivative financial instrument granting the right to its owner unilaterally to buy, realize underlying asset or to do swap.

403-1.6. The swap is derivative financial instrument on exchange of underlying assets of identical type between two parties.".

7. in the first offer of Article 532.1 after the words "and money or" to add with the word "documentary".

8. in Article 826.2 after the word "or" to add with the word of "documentary".

9. To give the text of Article 828 in the following edition:

"828.1. The warehouse keeper can write out commodity papers on the goods accepted to storage. Commodity paper is document (the folding certificate, the bill of lading, etc.) confirming the right of the owner of commodity paper to the order with the goods specified in this paper and its obtaining.

828.2. Commodity papers can be written out addressed to handing over load or the owner of goods.

828.3. If on any goods commodity paper is written out, then the warehouse keeper can and shall issue the specified goods only to authorized person specified in this document.

828.4. In commodity papers the following information is specified:

828.4.1. the place and date of creation of the document, the signature of person which issued the document;

828.4.2. name and the residence or stay of person which issued the document;

828.4.3. name of person storing goods in warehouse or name of the sender, the residence or stay;

828.4.4. the name of the stored or checked goods with indication of quality, quantity and signs;

828.4.5. the withheld or previously paid payments;

828.4.6. the special agreements accepted by interested persons about the handling of goods;

828.4.7. number of copies of commodity papers;

828.4.8. instruction of name of authorized person for the specified document or clause about the order or specifying of handing over.

828.5. If from several commodity papers one is provided for pledge determination, then this document shall be called the certificate of pledge (warrant) and according to other data shall be as commodity paper. In other copies issue of the mortgage certificate is noted, each encumbrance by pledge with indication of payment due dates is reflected.

828.6. In case of issue of certificates for the stored or sent goods with violation of legal instructions about form of commodity papers, they are considered not as commodity papers, but checks about obtaining or other supporting documents.

828.7. If the certificates granted by owners of warehouses without receipt of permission which shall be provided under the law by authorities correspond to legal instructions about form, then they are considered as commodity papers.

828.8. The bill of lading is the commodity paper consisting of the administrative document on goods, confirming the right of its owner to dispose of the goods specified in the bill of lading and to accept load after transportation completion. The bill of lading can be nominal and to bearer.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info