LAW OF THE AZERBAIJAN REPUBLIC

of December 16, 2016 No. 460-VQD

About introduction of amendments to the Law of the Azerbaijan Republic "About electronic trading"

Being guided by Item 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 electronic trading" (Collection of the legislation of the Azerbaijan Republic, 2005, No. 7, Article 567) to make the following changes:

1.1. In Article 1.0.1 after words to "performance of works and rendering services" to add with words "(including loading through the Internet of e-books, music, audio-video of materials, graphical representations, virtual games, the software, advertizing, other similar work and services)".

1.2. At the end of Article 1.0.6 to replace sign of point with sign of semicolon and to add with Articles 1.0.7 - 1.0.9 following contents:

"1.0.7. The POS terminal - the equipment intended for carrying out transactions by means of payment cards including receipts of cash;

1.0.8. the card organization - the center rendering maintenance of transfer, collection, processing and clearing of data on the operations performed by means of cards including issues of cards and acquiring (banks and other legal entities performing processing activities), or representation, branch or other division of the international card organization in the Azerbaijan Republic;

1.0.9. electronic cash purse - the software allowing to store the money listed by physical persons and legal entities and to make electronic payments according to their order, which is not considered as bank or credit institution.";

1.3. At the end of Article 5.3.6 to replace sign of point with sign of semicolon and to add with Article 5.3.7 of the following content:

"5.3.7. information on carrying out payments by means of the POS terminal, the Internet and electronic cash purse.".

1.4. Add with Articles 5.6 and 5.7 of the following content:

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