of April 5, 2016 No. 187-VQD
About introduction of amendments to the Law of the Azerbaijan Republic "About non-bank credit institutions"
Being guided by Item 27 of part I of article 94 of the Constitution of the Azerbaijan Republic, in connection with application of the Law of the Azerbaijan Republic "About modification of the Civil code of the Azerbaijan Republic" of May 15, 2015 the Majlis of the Azerbaijan Republic decides Millie's No. 1283-IVQD:
In the Law of the Azerbaijan Republic "About non-bank credit institutions" (Collection of the legislation of the Azerbaijan Republic, 2010, No. 2, Article 72; 2013, No. 7, Article 789; 2014, No. 10, Article 1160) to make the following changes:
1. State Article 1.0.5 in the following edition:
"1.0.5. affiliates are persons specified in Article 49-1.1 of the Civil code of the Azerbaijan Republic.".
2. Add with Article 15.5 of the following content:
"15.5. Rules of the conclusion of NBKO of transactions with affiliates are regulated by Article 49-1 of the Civil code of the Azerbaijan Republic. NBKO which has rights to accept the mortgage deposit in case of issuance of credits to affiliates also shall observe the prudential standard rates and requirements established according to article 19.1.2 of this Law.".
President of the Azerbaijan Republic
Ilham Aliyev
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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