PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of March 5, 2009 No. 70

About approval of the Regulations on the State committee on securities of the Azerbaijan Republic and structure of committee

For the purpose of enhancement of the normative legal basis of activities of the State committee on securities of the Azerbaijan Republic I decide:

1. No. 1032 is cancelled according to the Presidential decree of the Azerbaijan Republic of 07.09.2016 

2. No. 1032 is cancelled according to the Presidential decree of the Azerbaijan Republic of 07.09.2016 

3. Charge to the Cabinet of Ministers of the Azerbaijan Republic in a month:

3.1. prepare and provide to the President of the Azerbaijan Republic offers on reduction of the existing regulatory legal acts to compliance with this Decree;

3.2. provide reduction of regulatory legal acts of the Cabinet of Ministers of the Azerbaijan Republic and the relevant central executive bodies in compliance with this Decree and inform on it the President of the Azerbaijan Republic;

3.3. set limit of number of workers of the office of the State committee on securities of the Azerbaijan Republic and Management of Committee in the Nakhchivan Autonomous Republic.

3.4. resolve other issues following from this Decree.

4. Consider invalid Item 1 of the Presidential decree of the Azerbaijan Republic "About ensuring activities of the State committee on securities in case of the President of the Azerbaijan Republic" of July 26, 1999, No. 161 (Collection of the legislation of the Azerbaijan Republic, 1999, No. 7, Article 423; 2003, No. 10, Article 585; 2004, No. 8, Article 617, No. 9, Article 678; 2005, No. 10, Article 910; The Presidential decree of the Azerbaijan Republic of November 11, 2008, No. 14).

5. This Decree becomes effective from the date of publication.

Approved by the Presidential decree of the Azerbaijan Republic of March 5, 2009 No. 70

Regulations on the State committee on securities of the Azerbaijan Republic

I. General provisions

1. The state committee on securities of the Azerbaijan Republic (further - Committee) is created according to the Order of the President of the Azerbaijan Republic "About creation of the State committee on securities of the Azerbaijan Republic" of November 19, 2008 No. 52.

Committee - the body of the central executive authority performing state policy in the security market and regulation of the security market.

2. In the activities the Committee is guided by the Constitution of the Azerbaijan Republic, the laws of the Azerbaijan Republic, decrees and orders of the President of the Azerbaijan Republic, resolutions and orders of the Cabinet of Ministers of the Azerbaijan Republic, international treaties which the Azerbaijan Republic, and this Provision joined.

3. In case of accomplishment of the obligations and implementation of the rights the Committee performs activities in interaction with other executive bodies, the Central Bank of the Azerbaijan Republic, local government bodies, non-governmental organizations, legal entities and physical persons which are members of the security market.

4. The committee has separate balance, the state-owned property which is at its disposal according to the legislation, treasurer and bank accounts, seal with the image of the State Emblem of the Azerbaijan Republic and the name, the corresponding stamps and forms.

5. Maintenance costs of Committee and its activities are financed by the government budget of the Azerbaijan Republic and other stipulated by the legislation sources.

6. The committee is in the city of Baku.

II. Activities of Committee

7. Activities of Committee are:

7.1. participation in forming of single state policy in the security market and ensuring implementation of this policy;

7.2. provides market development of securities and its infrastructure;

7.3. performs activities in other directions established by the legislation.

III. Tasks of Committee

8. According to the activities established by this Provision the Committee carries out the following tasks:

8.1. performs within the powers normative regulation in the security market;

8.1.1. establishes rules of issue of securities and the requirement, concerning prospectuses of the issue of securities;

8.1.2. establishes obligatory details of certificates of securities and the rule of production of their forms;

8.1.3. establishes rules of consolidation, crushing (division) and converting of securities;

8.1.4. establishes rules of security circulation;

8.1.5. establishes rules of withdrawal of securities from the address and their liquidation;

8.1.6. establishes requirements to members of the security market and the rule of their activities;

8.1.7. establishes rules of certification of professional participants of the security market;

8.1.8. establishes rules of release into the stream of commerce of securities of foreign issuers in the Azerbaijan Republic;

8.1.9. establishes rules of placement of securities of issuers of the Azerbaijan Republic outside the territory of the Azerbaijan Republic;

8.1.10. establishes rules of registration and repayment of debt obligations of legal entities and physical persons securities;

8.1.11. establishes standards on risks insurance, subject to insurance in the security market;

8.1.12. establishes rules of submission of reports and information connected with securities within the powers;

8.1.13. establishes storage precautions and provisions of office information in the security market;

8.1.14. establishes rules of prevention of manipulation with the prices in the security market;

8.1.15. establishes rules on disclosure of information in the security market;

8.1.16. adopts other regulations connected with regulation of the security market within the powers.

8.2. exercises the state control in the security market;

8.2.1. controls issue and security circulation;

8.2.2. exercises control over withdrawal of securities from the address and their liquidation;

8.2.3. exercises within the powers the state control over activities of members of the security market;

8.2.4. exercises control over risk management and observance of standards of insurance in the security market;

8.2.5. controls activities of investment funds;

8.2.6. exercises control over release into the stream of commerce of securities of foreign issuers in the Azerbaijan Republic;

8.2.7. exercises control over placement of securities of issuers of the Azerbaijan Republic outside the territory of the Azerbaijan Republic;

8.2.8. exercises regulation and control of the debt market, drawn up by securities;

8.2.9. controls storage and provision of office information in the security market;

8.2.10. takes measures for the purpose of non-admission of manipulation with the prices in the security market;

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