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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of June 22, 2010 No. 283

About modification and amendments in some presidential decrees of the Azerbaijan Republic connected with privatization of state-owned property

For the purpose of ensuring implementation of the privileges provided to members of labor collective of the state companies and persons equated to them after the expiration of use as means of payment, the privatization shares (checks) released in the course of privatization of state-owned property in the Azerbaijan Republic, and also identification of new mechanisms selling state-owned property I decide:

1. Make the following additions and changes to the "II State program of privatization of state-owned property in the Azerbaijan Republic" approved by the Presidential decree of the Azerbaijan Republic of August 10, 2000 No. 383 (Collection of the legislation of the Azerbaijan Republic, 2000, No. 8, the book III, Article 606; 2001, No. 10, Article 640; 2002, No. 4, II book, Article 189, No. 10, Article 592; 2003, No. 10, Articles 566, 569; 2004, No. 6, Article 432; 2005, No. 5, Articles 400, 403, 405; 2006, No. 7, Article 590, No. 8, Article 678, No. 9, Article 742; 2007, No. 11, Article 1097, No. 12, Article 1246; 2008, No. 7, Article 613; 2009, No. 03, Article 163):

1.1. to consider paragraphs 4-6 of Item 4.2.4 respectively paragraphs 5-7 and to add the specified item 4 with the paragraph of the following content: "After completion of effective period of privatization shares (checks) as means of payment, the maximum quantity of shares of the joint-stock companies which resulted from transformation of the state companies which one person can acquire during preferential sale of shares is determined by division of the shares offered for preferential sale into number of persons having the participation right on such sale. Each person participating in preferential sale shall pay 30% of nominal value of number of shares which wants to acquire. Payment of this amount is performed according to the procedure, established by the State committee on property questions.".

1.2. to consider paragraphs 4-6 of Item 4.2.5 respectively paragraphs 5-7 and to add the specified item 4 with the paragraph of the following content: "After completion of effective period of privatization shares (checks) as means of payment, the amount which is subject to complete payment in equal amount by each worker, and corresponding to it share in property which will be received by it is determined by division of 70% of part of the starting (starting) price of the companies and objects privatized as small enterprises, directed to preferential sale into number of persons having the participation right on such sale. Payment of this amount is performed according to the procedure, established by the State committee on property questions."

1.3. on Item 5.8:

1.3.1. in the subitem of "c", after the word "auctions" to add the word" (after completion of effective period of privatization shares (checks) as means of payment on specialized money auctions)";

1.3.2. in the 5th paragraph after the words "on specialized check auctions" to add the word" (after completion of effective period of privatization shares (checks) as means of payment on specialized money auctions)".

1.4. To exclude words from Item 7.2" (in case of withdrawal of the state privatization checks from the address, the shares provided by the subitem "c" of Item 5.8 II of the State program are sold on specialized money auction.)".

1.5. In Item 14.1 after the word "accepts" to add the word "also writes off";

1.6. State Item 14.2 in the following edition: "The accepted and written off privatization checks and options are liquidated by the commission consisting of 3 (three) representatives of the State committee on property questions and 2 (two) representatives of the State committee on securities.".

2. Make the following additions and changes to the Presidential decree of the Azerbaijan Republic of December 23, 2000 No. 432 "About the additional measures connected with execution of the Law of the Azerbaijan Republic "About privatization of state-owned property" (Collection of the legislation of the Azerbaijan Republic, 2000, No. 12, Article 844; 2001, No. 7, Article 470, No. 10, Article 640; 2002, No. 12, Article 725; 2003, No. 9, Article 475, No. 10, Articles 569, 585; 2004, No. 9, Article 678; 2005, No. 5, Article 400; 2006, No. 7, Article 590; 2007, No. 5, Article 452, No. 6, Article 599, No. 11, Article 1097; 2008, No. 7, Article 613; 2009, No. 3, Article 163):

2.1. State the Item 10 "Regulations on the State Privatization Options" in the following edition: "The accepted and written off privatization options are liquidated by the commission consisting of 3 (three) representatives of the State committee on property questions and 2 (two) representatives of the State committee on securities.".

2.2. the 2nd paragraph of Item 1.3 of "Rules of sale of state-owned property on specialized check and money auctions" to state in the following edition: "Rules of sale of state-owned property on specialized money auction" determine general procedure for sale of shares or blocks of shares of the joint-stock companies created in the course of privatization on specialized money auctions after expiration of privatization shares (checks) used as means of payment.".

2.3. to consider paragraphs 4-7 of the Item 4.2 "Regulations on Preferential Sale to Labour Collective of Shares of the State Companies Transformed to Public Joint Stock Companies" respectively paragraphs 5-8 and to add the specified item 4 with the paragraph of the following content: "After completion of effective period of privatization shares (checks) as means of payment, the maximum quantity of shares of the joint-stock companies created as a result of transformation of the state companies which one person can acquire during preferential sale of shares is determined by division of the shares offered for preferential sale into number of persons having the participation right on such sale. Each person participating in preferential sale shall pay 30% of nominal value of number of shares which wants to acquire. Payment of this amount is performed according to the procedure, established by the State committee on property questions.".

2.4. in the Item 5.9 "Regulations on Activities of the Commission on Privatization of the State Company" of the word to "labor collective in exchange for the state privatization shares (checks)" shall be replaced with words "according to the procedure, established by the legislation".

3. Approve "Rules of sale of state-owned property on specialized money auctions" it (is applied).

 

President of the Azerbaijan Republic Ilham ALIYEV

Approved by the Presidential decree of the Azerbaijan Republic of June 22, 2010 No. 283

Rules of sale of state-owned property on specialized money auctions

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