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Ministry of Justice

Azerbaijan Republic

On January 11, 2000 No. 207

Approved by the Order of the State committee on securities in case of the President of the Azerbaijan Republic of January 03, 2000 No. 001

Rules of carrying out state registration of pledge of securities of all types and pledge of the debt obligations which are drawn up by securities

1. General provisions

1.1. These rules determine procedure for carrying out state registration of pledge of securities of all types and pledge of the debt obligations which are drawn up by securities (further - the pledge connected with securities), according to requirements of the Law of the Azerbaijan Republic "About pledge" of July 3, 1998 and the "Regulations on the State committee on securities in case of the President of the Azerbaijan Republic" approved by the Presidential decree of the Azerbaijan Republic of July 26, 1999 No. 161.

2. State registration of the pledge connected with securities

2.1. The pledge connected with securities arises from the moment of the conclusion between the pledger and the pawnbroker of the agreement of pledge according to requirements of the Law of the Azerbaijan Republic "About pledge" and carrying out state registration of pledge in the State committee on securities (further - GKTsB) in case of the President of the Azerbaijan Republic.

2.2. For carrying out state registration of the pledge connected with securities, the pledger shall in 30 - dnevny term from the date of the conclusion of the agreement of pledge to submit in GKTsB the application on carrying out registration of the pledge connected with securities, notarially certified agreement of pledge, the document which became pledge origin (in the absence of such document - other bases causing pledge) and the copy of the document confirming payment of duty in the established size on pledge registration.

2.3. Are specified in the registration statement:

- the name of the pledger on the provided debt and if the pledger is not debtor, also the debtor, the pawnbroker and the manager of pledge (if it is appointed);

- the specific or generalizing determination of the provided debt;

- the maximum size of the provided debt;

- the specific or generalizing determination of the pledged property (the name of the pledged securities and debt obligations which are drawn up by securities, their types, the state registration numbers, nominal value, total amount for documentary securities - series, sequence numbers, full name of the issuer, the name and legal address of depositary or the keeper of the register, etc.);

- signatures of the pledger and the manager of pledge (if it is appointed);

- date of the agreement of pledge.

In cases of transformation of guarantee of storage into the registered pledge in the registration statement in addition to the specified data it is noted also:

- transformation of guarantee of storage into the registered pledge;

- if after date of the agreement of pledge the pledged property is transferred to ownership, date of its transfer to ownership.

2.4. In the presence on one provided debt of several pledgers each of them shall submit the separate registration application.

2.5. Abuse of regulations of state registration of the pledge connected with securities attracts invalidity of pledge.

3. Additional registration of the pledge connected with securities

3.1. Based on the mortgage legislation of the Azerbaijan Republic additional registration of the pledge connected with securities is carried out.

At the same time the application is submitted for carrying out additional registration by the pawnbroker, the subject of pledge, the information about the pledger, registration date and other obligatory data, and also the reason of filing of application for carrying out additional registration are specified in this statement.

3.2. In case of the additional registration of the pledge connected with securities, which is carried out in the cases provided below in the registration statement along with obligatory data are reflected also:

- in case of introduction of amendments to the agreement of pledge - date of the agreement of pledge, date of modification, the signature of the pledger and pawnbroker or persons acting from their name;

- in case of the subsequent appointment of the manager of pledge or cancellation of its appointment - the name of the manager of pledge, the signature of the pawnbroker and manager of pledge or persons acting from their name;

- in case of repledge of secured debt - names and signatures of the pawnbroker performing repledge of secured debt, and the new pawnbroker or acting from their name of persons;

- upon transition of the property right to pledged property to other person - the name of the person which acquired the property right, and the signature of the pawnbroker or acting from his name of person;

- in case of receipt of the notice on the address of collection - the date of receipt of the notice and if such notice concerns guarantee of storage - the data necessary for registration of guarantee of storage;

- in case of clarification of judicial determination according to part 4 of article 33 of the Law of the Azerbaijan Republic "About pledge" - the determination content, the name and the signature of person which introduced the petition for removal of determination, or operating from his name of person;

- in case of the termination of the registered pledge or cancellation of its registration - the signature of the pawnbroker or person acting from his name;

- in case of cancellation of registration of the notice on the address of collection

- date of presentation of the notice, the signature of the pawnbroker or person acting from his name;

- in case of cancellation of the interim order of court - contents of the interim order and the signature of person which introduced the petition for adoption of the order, or existing from his name of person.

3.3. Before carrying out additional registration of pledge in the cases established in Section 3 of these rules, collection cannot be turned on pledge.

3.4. In the presence on one provided debt of several pledgers on each of pledgers the separate application on carrying out additional registration shall be submitted.

4. Rules of carrying out state registration of the pledge connected with securities

4.1. For registration of the pledge connected with securities in GKTsB the book which affirms seal of GKTsB and is sewed opens.

4.2. After acceptance of GKTsB of the registration statement or the statement on additional registration in the registration statement and its copy (subsequently returned to the applicant) date and time of filing of application are celebrated. GKTsB adopts the registration application of the pledge connected with securities or the statement on additional registration, other documents provided by these rules and registers them in the special book. The submitted documents are considered by GKTsB, and in the absence of shortcomings or the bases for refusal within 15 days the relevant decision is made on carrying out registration of the pledge connected with securities then on the statement and its copy the seal is set.

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