LAW OF THE AZERBAIJAN REPUBLIC

of March 4, 2016 No. 139-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic"

Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

Article 1

In the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" (Collection of the legislation of the Azerbaijan Republic, 2004, No. 12, Article 984; 2007, No. 6, Article 562, No. 10, Article 938, No. 12, Article 1196; 2009, No. 6, Article 404, No. 7, Articles 507, 517; 2010, No. 10, Article 839; 2011, No. 7, Article 612; 2014, No. 11, Article 1371; 2015, No. 6, Article 684, No. 11, Article 1296) to make the following changes:

1.1. To exclude the word of "right" from preamble of the Law;

1.2. Under Article 2:

1.2.1. to exclude the word "legal" from the name of Article;

1.2.2. in Article 2.1 of the word "state body" shall be replaced with words "the public legal entity";

1.2.3. in Article 2.2 in the first offer "capital" to replace the word with the word "fund", in the third offer to replace the word of "capital" with the word of "fund".

1.3. State Article 4.2 in the following edition:

"4.2. The purposes of activities of the Central bank are also the organization and ensuring activities of the interbank centralized and other not licensed payment systems, and also assistance of banking system stability.";

1.4. Under Article 5:

1.4.1. exclude Article 5.0.7;

1.4.2. in Article 5.0.8 to the word "payment" to add with words "interbank centralized and other not licensed".

1.5. In Article 9.3 of the word of "cash, currency and banking supervision" shall be replaced with words "monetary and monetarist policies";

1.6. Under Article 10:

1.6.1. in Articles 10.1 and 10.3 to replace the word of "capital" with the word of "fund";

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