LAW OF THE AZERBAIJAN REPUBLIC

of March 4, 2016 No. 145-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About the security market"

Being guided by Items 11 and 15 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 security market" (Collection of the legislation of the Azerbaijan Republic, 2015, No. 7, Article 813) to make the following changes:

1.1. To exclude words from preamble "state and public";

1.2. In the text of the word "state regulation and supervision" in the corresponding cases shall be replaced with words "regulation and supervision" in the corresponding cases;

1.3. To exclude the word from Article 1.0.11 to "state";

1.4. Exclude Article 1.0.16;

1.5. State Article 1.0.22 in the following edition:

"1.0.22. 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;";

1.6. In the text of the word "supervision body" in the corresponding cases shall be replaced with words "supervision body behind the financial markets";

1.7. In Article 2.1 after the word "acts" to add with words "acts of normative nature of supervision body behind the financial markets,";

1.8. Except for Articles 3. 6, 16.16. 4, 62.3 and 89.1.2, in the text of the word "relevant organ of the executive authority" in the corresponding cases shall be replaced with words "supervision body behind the financial markets" in the corresponding cases;

1.9. In Article 5.5.4 to replace the word "does not exceed" with the word "exceeds";

1.10. To exclude the words "or … body of financial monitoring" from Article 19.6.4;

1.11. To exclude words from Article 28.2", body of financial monitoring";

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