LAW OF THE AZERBAIJAN REPUBLIC

of September 30, 2014 No. 1041-IVQD

About introduction of amendments to the Law of the Azerbaijan Republic "About investment funds"

Being guided by Items 10 and 15 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

In the Law of the Azerbaijan Republic "About investment funds" (Collection of the legislation of the Azerbaijan Republic, 2010, No. 11, Article 950) to make the following changes:

1. Under Article 48:

1.1. in Article 48.1.10 to words "this Law" to add with words "the Law of the Azerbaijan Republic "On regulation performed in the field of entrepreneurships and protection of interests of entrepreneurs" and";

1.2. to exclude words from Article 48.1.12", in case of identification of cases of their violation for the purpose of elimination of these violations instructions, obligatory for execution are taken out";

1.3. in Article 48.2 to exclude the words "and control", "regulation and control" to replace words with the word "regulation";

1.4. add with Article 48.3 of the following content:

"48.3. Supervision body, his official, the employee bear responsibility for violation of requirements of the Law of the Azerbaijan Republic "On regulation performed in the field of entrepreneurships and protection of interests of entrepreneurs" and this Law, and also for failure to carry out of job responsibilities, abuse of office and the damage caused to the entrepreneur, according to the procedure, the stipulated in Clause 35.1 Laws of the Azerbaijan Republic "On regulation performed in the field of entrepreneurships and protection of interests of entrepreneurs".".

2. Under Article 49:

2.1. exclude Article 49.2 - 49.5;

2.2. state Articles 49.8 and 49.9 in the following edition:

"49.8. Checking shall provide information security which receipt is limited to the Law of the Azerbaijan Republic "About receipt of information".

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