LAW OF THE AZERBAIJAN REPUBLIC

of May 3, 2019 No. 1586-VQD

About modification of the Laws of the Azerbaijan Republic "About insurance activity", "About non-bank credit institutions", "About investment funds", "About the security market" and "About anti-dumping, countervailing and protective measures"

Being guided by Items 10, of 11, 15 and 27 parts I of article 94 of the Constitution of the Azerbaijan Republic, in connection with execution of the Law of the Azerbaijan Republic "About introduction of amendments to the Law of the Azerbaijan Republic "About financial accounting" of May 4, 2018 the Majlis of the Azerbaijan Republic decides Millie's No. 1140-VQD:

Article 1

In the Law of the Azerbaijan Republic "About insurance activity" (Collection of the legislation of the Azerbaijan Republic, 2008, No. 3, Article 144, No. 7, Article 602; 2009, No. 7, Article 517; 2011, No. 1, Article 11; 2013, No. 12, Article 1470; 2014, No. 7, Articles 771, 779; 2015, No. 11, Article 1263; 2016, No. 3, Article 410, No. 6, Article 976; 2017, No. 7, Articles 1286, 1294, No. 12, book I, Article 2221; 2018, No. 7, book I, Article 1392; 2019, No. 1, of Article 19, of 33, of 50) to make the following changes:

1.1. add with Article 37.2.1-1 of the following content:

"37.2.1-1. the chief accountant or person fulfilling these duties shall be the professional accountant;";

1.2. in Article 44.1.3.3 to exclude the words "balance sheets, accounts about profit and losses";

1.3. add with Article 78.9 of the following content:

"78.9. Control of providing requirements of the Law of the Azerbaijan Republic with the insurer "About financial accounting" is exercised by supervision body behind the financial markets.";

1.4. in Article 91.2 after the words "shall have" to add with words ", the chief accountant or person fulfilling these duties shall be professional accountants";

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