LAW OF THE AZERBAIJAN REPUBLIC

of April 25, 2017 No. 649-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About currency control"

Being guided by Items 15 and 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 currency control" (Sheets of the Supreme Council of the Azerbaijan Republic, 1995, No. 7, Article 116; Collection of the legislation of the Azerbaijan Republic, 2001, No. 12, Article 737; 2003, No. 1, Article 1; 2006, No. 3, Article 225; 2007, No. 6, Article 562, No. 12, Article 1216; 2009, No. 7, Article 517; 2010, No. 4, Article 276; 2014, No. 10, Article 1168; 2016, No. 3, Article 423) to make the following changes:

1. Under Article 1:

1.1. in part 7 Item "and" after the words "including" to add with words "transactions on currency exchange, and also";

1.2. add with parts 7-1 and 7.2 of the following content:

"7-1. "Activities for currency exchange" - purchase and sale and exchange of foreign currency in the Azerbaijan Republic according to the procedure, established by the law.

7-2. "Persons who obtained the license for activities for currency exchange" - legal and physical resident persons and branches of legal nonresident persons who obtained the license for activities for currency exchange according to the procedure, established by this Law".

2. State Article 3 in the following edition:

"Article 3. The general bases of implementation of activities for currency exchange in the Azerbaijan Republic

1. Residents and nonresidents have the right to buy, sell and exchange foreign currency in the domestic foreign exchange market of the Azerbaijan Republic according to the procedure established by the law.

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