RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of December 22, 2015 No. 395

About modification in "The rule of management of shares (shares) in joint businesses and joint-stock companies with the shares (shares) belonging to the state in the authorized capital", approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of July 14, 2005 No. 136

For the purpose of ensuring execution of Item 1.2 of the Order of the President of the Azerbaijan Republic of May 22, 2015 with No. 1239 "About application of the Law of the Azerbaijan Republic "About modification of the Civil code of the Azerbaijan Republic" of May 15, 2015 No. 1283-IVQD", the Cabinet of Ministers of the Azerbaijan Republic decides:

Make the following changes to "The rule of management of shares (shares) in joint businesses and joint-stock companies with the shares (shares) belonging to the state in the authorized capital", approved by the resolution of the Cabinet of Ministers of the Azerbaijan Republic of July 14, 2005 No. 136 (Collection of the legislation of the Azerbaijan Republic, 2005, No. 7, Article 669, No. 11, Article 1076; 2006, No. 1, Article 59; 2007, No. 8, Article 854; 2009, No. 10, Article 846):

1. to consider the eighth paragraph of part 10 the ninth paragraph and to add the specified part with the eighth paragraph of the following content:

"decision making about the conclusion of the transaction, on the amount exceeding 25 percent of net assets value of the legal entity, and also transactions with the corresponding person which cost constitutes 5 percent and more part of assets of the legal entity, with the conclusion of the independent auditor;".

2. to consider the fifth paragraph of part 12 the sixth paragraph and to add the specified part with the fifth paragraph of the following content:

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