PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of December 19, 2017 No. 1740

About ensuring activities of the Azerbaijani state news agency (AZERTADZH)

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of ensuring activities of the Azerbaijani state news agency (AZERTADZH) I decide:

1. Approve "The charter of the Azerbaijani state news agency (AZERTADZH)".

2. To assign implementation of powers of the founder in the Azerbaijani state news agency (AZERTADZH) (further - the Agency) on:

2.1. President of the Azerbaijan Republic:

2.1.1. approval of the Charter of the Agency, determination of the size of authorized fund;

2.1.2. creation of executive body, establishment and early termination of its powers;

2.1.3. reorganization and abolition of the Agency;

2.2. Cabinet of Ministers of the Azerbaijan Republic:

2.2.1. approval of limit of number of employees of the Agency and annual financial statements;

2.2.2. consent on creation of economic societies or participation in them, creation of managements, branches and representations;

2.2.3. consent on the conclusion of the transaction in the amount exceeding 25 percent of net assets value (the transaction of special value) and the transaction with the corresponding person which cost constitutes 5 and more percent of assets of the legal entity of the public law;

2.3. Agency:

2.3.1. determination of the directions of development;

2.3.2. approval of structure.

3. Determine that:

3.1. the initial authorized fund of the Agency is created at the expense of means of the government budget and constitutes 25.000.000 (twenty five million) manats;

3.2. the state-owned property which is on balance of the Azerbaijani state news agency (AZERTADZH) is estimated and finds reflection in authorized capital of the Agency;

3.3. the body performing management of activities of the Agency is the Board consisting of 5 members;

3.4. position assignment and dismissal of the chairman of the board and vice-chairmen is performed by the President of the Azerbaijan Republic, position assignment and dismissal of other 2 members - the Cabinet of Ministers of the Azerbaijan Republic.

4. To the Cabinet of Ministers of the Azerbaijan Republic:

4.1. to prepare and provide to three-months time to the President of the Azerbaijan Republic the offers connected with reduction of acts of the President of the Azerbaijan Republic in compliance with this Decree;

4.2. in three-months time to provide reduction of regulatory legal acts of the Cabinet of Ministers of the Azerbaijan Republic in compliance with this Decree and to inform the President of the Azerbaijan Republic;

4.3. in a month to provide cession of property, the Azerbaijani state news agency (AZERTADZH) which is on balance, on balance of the Agency from the date of its state registration as legal entity of the public law;

4.4. in a month in coordination with the President of the Azerbaijan Republic to approve the salary of board members and other employees of the Agency;

4.5. check reduction of regulatory legal acts of the central executive bodies in compliance with this Decree and in five-months time to inform the President of the Azerbaijan Republic;

4.6. resolve other issues following from this Decree.

5. To the agency:

5.1. within three days from the date of entry into force of this Decree to address to the Ministry of taxes of the Azerbaijan Republic for state registration according to the procedure, established by the Law of the Azerbaijan Republic "About state registration and the state register of legal entities".

5.2. in a month in coordination with the President of the Azerbaijan Republic to approve structure.

6. To the ministry of taxes of the Azerbaijan Republic to perform the necessary measures connected with state registration of the Agency.

7. To provide to the Ministry of Justice of the Azerbaijan Republic reduction of regulatory legal acts of the central executive bodies and acts of normative nature in compliance with this Decree and to inform the Cabinet of Ministers of the Azerbaijan Republic.

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