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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of May 14, 1997 No. 581

About approval of the Regulations on rules of maintaining the shareholder register of the joint-stock companies created in case of privatization of the state companies, and specialized check investment funds

(as amended on 02-07-2010)

For the purpose of ensuring implementation of "The state program of privatization of state-owned property in the Azerbaijan Republic in 1995 - 1998", the Azerbaijan Republic approved by the Law of September 29, 1995, I decide:

1. Approve the Provision "About Rules of Maintaining the Shareholder Register of the Joint-stock Companies and Specialized Check Investment Funds Created during Privatization of the State Companies" it (is applied).

2. Charge to the State committee on questions of property of the Azerbaijan Republic to resolve the issues following from this Decree.

3. This Decree becomes effective from the date of its signing.

 

President

Azerbaijan Republic Heydar ALIYEV

Approved by the Presidential decree of the Azerbaijan Republic of May 14, 1997 No. 581

Regulations on rules of carrying out the shareholder register of the joint-stock companies created in case of privatization of the state companies, and specialized check investment funds

1. General provisions

1.1. This Provision determines rules of maintaining the shareholder register of the public joint stock company created during privatization of the state companies, task of registry holder and the nominee holder of shares.

1.2. The shareholder register of joint-stock company is system of registration of records about the transactions made with shares of joint-stock company.

2. Requirements to the shareholder register

2.1. The following data shall be entered in the shareholder register of joint-stock company:

* details of joint-stock company;

* about amount of the authorized capital of joint-stock company, quantity, nominal value and types announced to release and outstanding shares;

* about separation and accumulation of shares;

* concerning each registered person - the data reflecting its title of the owner or nominee holder of shares, and also quantity, nominal value, type of the shares which are written down on his name;

* about quantity, nominal value and type of the shares taken by joint-stock company on own account;

* about dividend payout;

* about the documents confirming transaction with shares (in case of its introduction without participation of the conciliatory deposit), and also other bases of acquisition of property right to shares, and the fact of loading of shares obligations according to the procedure, stipulated by the legislation the Azerbaijan Republic;

* about the nominee holder of shares;

* about depositaries.

2.2. The shareholder register can be kept on papers and in the form of electronic records.

2.3. The system of maintaining the shareholder register includes:

* maintaining the magazine of registration in chronological procedure;

* maintaining personal accounts of registered persons and pawnbrokers;

* maintaining the magazine of registration of issue of share certificates in the form of cash share issue and liquidation of these certificates;

* maintaining system of accounting and the document storage proving entering of records into the shareholder register (including electronically stored datas);

* accounting of the applications (requests) received from pawnbrokers and registered persons;

* creation of opportunity for issue of information to registered persons and their acquaintance with data of the register.

2.4. The magazine of registration is kept by joint-stock company by each announced type of shares.

Each magazine of registration is specified:

* quantity and nominal value of all types of the shares announced to release by joint-stock company, code of state registration of issue of securities by the issuer (in case of change of number of the shares announced to release by joint-stock company in the magazine of registration the new final quantity of such type of shares is specified);

* date of the announcement of the dividend by each type of shares, the number of shares on which dividends, amount of the dividend paid on one share are issued.

In case of establishment of a joint-stock company data on all founders specified in constituent documents of society, quantity and type of shares are entered in the shareholder register.

In case of additional share issue records about opening of the personal issued account reflecting everything not taken in property, in addition emissiruyemy shares are entered in the register within 5 (five) days from registration date of the prospectus of the issue.

2.5. In the magazine of registration in chronological procedure records about each additional issue and each share transfer, including, the loadings reflecting the fact are made by obligations of the shares which are written down addressed to the registered person, or the additional share issue connected with change of number of shares.

The records made in the magazine of registration shall reflect the following data:

* about number of record (number is assigned in consecutive procedure by date of introduction of record);

* about date of introduction of record (date of introduction of record is understood as the date of receipt by registry holder of the documents forming the basis for entering of records into the register);

* about types of the transactions made with shares;

* about the name of face included in the shareholder register as the registered person with indication of its title of the owner or the nominee holder of shares, and also number of its personal account, including:

a) data on share issue in the address the issuer;

b) in case of reorganization of joint-stock company - data on change of shares;

c) in cases of delivery of shares as a deposit - data on the name of the pawnbroker and number of its personal account;

d) the quantities this about change, type of the shares which are written down addressed to the registered person and loading of these shares obligations.

The registry holder shall store data on the registered person within 3 (three) years after removal of this person from registration.

2.6. The registry holder of shareholders opens personal account for each registered person with entering into the magazine of registration of necessary records.

In personal account the following data shall be reflected:

* number of personal account;

* about the registered person (with indication of its title of the owner or the nominee holder of shares):

a) for physical persons - name, middle name, surname, these identity certificates, the address and data on the authorized person (if it is appointed);

b) for legal entities - the full official name of the legal entity, this about his authorized representative and the name of registering body, number and registration date, legal address of person;

c) if the property right to shares belongs to two and more persons - names, middle names, surnames at least than two persons and data on the authorized person acting on behalf of all owners;

d) the data allowing to transfer to registered persons information necessary for them, to translate dividends and other payments:

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