of March 4, 2016 No. 144-VQD
About introduction of amendments to the Law of the Azerbaijan Republic "About insurance activity"
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 insurance activity" (Collection of the legislation of the Azerbaijan Republic, 2008, No. 3, Article 144, No. 7, Article 602; 2009, No. 7, Article 517; 2011, No. 1, Article 11; 2013, No. 12, Article 1470; 2014, No. 7, Articles 771, 779; 2015, No. 11, Article 1263) to make the following changes:
1.1. In word preamble of "state regulation and supervision" shall be replaced with words "regulation and control".
1.2. State Article 1.1.9 in the following edition:
"1.1.9. 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;".
1.3. In the text of the word "body of insurance supervision" in the corresponding cases shall be replaced with words "supervision body behind the financial markets" in the corresponding cases.
1.4. In Article 2.2 "legal" to replace the word with the word of "nature".
1.5. In Article 7.5 to "acts" to replace the word with the word "and to acts of normative nature".
1.6. In Article 13.2 "acts" shall be replaced with words the word "and acts of normative nature".
1.7. To exclude the words "on the basis of the order of relevant organ of the executive authority" from Article 16.5.
1.8. In Article 53.1.2 of the word of "state body" to replace with the word of "body".
1.9. In Article 56.1.1 to "acts" shall be replaced with words the word "and acts of normative nature".
1.10. In the name of Chapter 12 of the word "state regulation and control" shall be replaced with words "regulation and control".
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