of May 31, 2018 No. 1164-VQD
About introduction of amendments to the Law of the Azerbaijan Republic "About investment funds"
Being guided by Item 10 of part I of article 94 of the Constitution of the Azerbaijan Republic, for the purpose of reduction of the Law of the Azerbaijan Republic "About investment funds" in compliance with the Law of the Azerbaijan Republic "About introduction of amendments to the Law of the Azerbaijan Republic "About counteraction of legalization of the money received in the criminal way or other property and to terrorism financing" of June 13, 2017 No. 736-VQD, Millie decides Majlis of the Azerbaijan Republic:
Make the following changes to the Law of the Azerbaijan Republic "About investment funds" (Collection of the legislation of the Azerbaijan Republic, 2010, No. 11, Article 950; 2014, No. 10, Article 1161; 2015, No. 11, Article 1261; 2016, No. 3, Article 412, No. 4, Article 642, No. 12, Article 2002; 2017, No. 11, Article 1952, No. 12, I book, Article 2225):
1. give Article 1.1.18 in the following edition:
"1.1.18. the beneficial owner - the physical person or legal entity receiving finally economic or any other benefit as a result of activities of investment fund and the performed operations and also the valid owner of the legal entity for benefit of whom bargains, or the physical person exercising control over the client are concluded and (or) on behalf of which financial transactions and other transactions, or the physical person exercising control over the legal entity are performed;".
2. in Article 28.5.1.5 "beneficiaries" shall be replaced with words the word "beneficial owners".
3. in the first offer of Article 34.6 and Article 36.1.15 "beneficiaries" shall be replaced with words the word "beneficial owners".
4. in Article 53.2 the word of "beneficiary" shall be replaced with words "the beneficial owner".
President of the Azerbaijan Republic
Ilham Aliyev
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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