of March 4, 2016 No. 141-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, Millie decides Majlis of the Azerbaijan Republic:
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:
1.1. At the end of Article 1.0.5 to replace point with semicolon and to add with Article 1.0.6 of the following content:
"1.0.6. Supervision body behind the financial markets - the structure created by relevant organ of the executive authority for the purpose of implementation of regulation and control in the financial markets.".
1.2. In Article 2.1 after words "Central Bank of the Azerbaijan Republic (further - the Central Bank)" to add with words" and supervision body behind the financial markets".
1.3. Except for Articles 2.1 and 18.7. 1, in the text of the word Central bank in the corresponding cases shall be replaced with words" supervision body behind the financial markets" in the corresponding cases.
1.4. In Article 15.3 of the word "competent state bodies" to replace with the word "corresponding".
1.5. In Article 20.1 of the word "legal acts" shall be replaced with words "regulatory legal acts and acts of normative nature".
1.6. In Article 25.1.4 to words of Central bank to add with words "supervision body behind the financial markets or".
1.7. Add with Article 25.1-1 of the following content:
"25.1-1. In the presence of the basis, the stipulated in Article 25.1.4 presents of the Law, on the questions carried to its competence, the Central bank sends to supervision body behind the financial markets the reasonable written address for cancellation of the license or permission.".
1.8. Add with Article 25-1 of the following content:
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