of March 4, 2016 No. 155-VQD
About introduction of amendments to the Law of the Azerbaijan Republic "About deposit insurance"
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 deposit insurance" (Collection of the legislation of the Azerbaijan Republic, 2007, No. 2, Article 79; 2009, No. 6, Article 400; The Law of the Azerbaijan Republic on January 19, 2016 No. 100-VQD) to make the following changes:
1. Add with Article 2.1.5-1 of the following content:
"2.1.5-1. 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.".
2. In Article 2.1.9 of the word "Central Bank of the Azerbaijan Republic (further - the Central Bank)" shall be replaced with words "supervision body behind the financial markets".
3. In Article 2.1.10 of the word of Central bank shall be replaced with words "supervision body behind the financial markets".
4. In Article 3.3 of the word "in the Central bank" shall be replaced with words "in the Central bank of the Azerbaijan Republic (further - the Central bank)".
5. Except for Articles 3. 4, 4.1.7, 8.1.20, 12.1, 13.5, 13.6, 17.2, 21 (in the name), 21.1.1, 21.1.2, 21.2, 22.4, 27.1 and 29.2, 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.
6. In Article 3.4 after the word "state" in the corresponding cases to add with words ", supervision body behind the financial markets" in the corresponding cases.
7. In Article 6.2 of the word "three representatives of the Central bank" shall be replaced with words "two representatives of supervision body behind the financial markets, one representative of the Central bank".
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