RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of February 24, 2012 No. 43

About approval of the Payment procedure at the expense of means of the government budget of insurance premium on compulsory insurance of the apartment houses and apartments belonging to the needy families having the right to the address public assistance

For the purpose of ensuring execution of Item 1.5 of the Presidential decree of the Azerbaijan Republic of September 15, 2011 with No. 500 "About application of the Law of the Azerbaijan Republic of June 24, 2011 No. 165-IVQ "About compulsory insurances", the Cabinet of Ministers of the Azerbaijan Republic decides:

1. Approve "The payment procedure at the expense of means of the government budget of insurance premiums on compulsory insurance of the apartment houses and apartments belonging to needy families which have rights to receive the address public assistance" (is applied).

2. This resolution becomes effective from the date of signing

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of February 24, 2012, No. 43

Payment procedure at the expense of means of the government budget of insurance premiums on compulsory insurance of the apartment houses and apartments belonging to needy families which have rights to receive the address public assistance

1. General provision

1.1. This Procedure is prepared according to the Law of the Azerbaijan Republic "About the address public assistance" and with article 40.3 of the Law of the Azerbaijan Republic "About compulsory insurances" (further - the Law) and regulates the questions connected with payment for the account of means of the government budget of insurance premiums (further - insurance premiums) on compulsory insurance of the apartment houses and apartments belonging to needy families (further needy families) which have rights to receive the address public assistance.

2. Issue of financial aid on payment for the account of means of the government budget of insurance premiums

2.1. Financial aid is allocated for payment for the account of means of the government budget of insurance premiums is equivalent to the financial aid pledged annually in the government budget on insurance indemnity according to the Law on the government budget and are stored on the special account of the Ministry of Finance of the Azerbaijan Republic (further - the Ministry).

3. Payment procedure of insurance premiums

3.1. The insurer who signed the relevant agreements of compulsory insurance on insurance of the apartment houses and apartments belonging to needy families for receipt of the insurance premiums provided in the specified agreements at the expense of means of the government budget represents to the Central bank of the Azerbaijan Republic (further - the Central bank) the quarterly report constituted with familiarizing with it following dokumentov:maloobespechenny families, for obtaining at the expense of means of the government budget of the insurance premiums provided in the mentioned agreements represents to the Central Bank on control of the financial markets of the Azerbaijan Republic (further - the Central Bank) the quarterly report constituted with familiarizing of the following documents with it:

3.1.1. form of external submission of the insurance certificate confirming the fact of compulsory insurance of the apartment house or the apartment belonging to needy family;

3.1.2. the copy of the document, confirmatory that the insured apartment house or the apartment belongs to needy family.

3.2. Central Bank within 10 working days from the moment of representation considers the report and documents, the stipulated in Item 3.1 presents of the Procedure, and checks availability of the relevant agreement of compulsory insurance in the electronic information system provided by the Law.

3.3. In case of detection of mistakes in the submitted documents, to the applicant within 5 working days the written notice goes. Defects shall be eliminated by the insurer within 5 working days.

3.3-1. If the Central Bank does not find cases of refusal of payment of insurance premiums, the stipulated in Item 3.6 presents of the Procedure, it sends the appeal in which the conclusion for payment to the relevant insurer of insurance premiums is reflected to the Ministry

3.3-2. The ministry within 15 working days from the date of receipt of the address transfers the corresponding insurance premiums into the bank account belonging to the insurer.

3.4. The report mentioned in Item 3.1 of these rules is submitted the insurer in the Central Bank of the 1st following every quarter.

3.5. The Ministry of Labour and Social Protection of the population of the Azerbaijan Republic to the 30th day of the last month of the I quarter of the current year represents to the Central Bank the list of needy families (only if they own apartment houses and apartments) on territorial units, and information on the changes entered in this list - to the 30th day of the last month of other quarters of this year.

3.6. Central Bank refuses payment of insurance premiums in the following cases and sends to the insurer the notification in writing within 5 working days with indication of causes of failure:

3.6.1. documents, are not provided in full;

3.6.2. in case of availability in the submitted documents of the distorted information.

4. Requirements to use of the financial aid allocated for payment of insurance premiums

4.1. Allocated for payment of insurance premiums the Ministries of means which are stored on the special account cannot be used in other purposes, except those which are provided by Rules.

4.1-1. Officials bear according to the procedure, established by the law, responsibility for not target use of the funds allocated for payment of insurance premiums.

4.2. The part of the funds allocated for payment of insurance premiums which is not used within year in the end of the year returns to the government budget.

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