OFFICIAL DOCUMENTS
DECREE OF PRESIDENT OF THE REPUBLIC OF AZERBAIJAN
ON APPLICATION OF THE LAW OF THE REPUBLIC OF AZERBAIJAN “ON DEBTS OF PRIVATIZED STATE-OWNED ENTERPRISES LIQUIDATED AS A RESULT OF AGRARIAN REFORMS IN SUBJECTS OF ECONOMY AND SUBJECTS OF ECONOMY IN REGIONS UNDER OCCUPATION”
1. The Cabinet of Ministers of the Republic of Azerbaijan shall be assigned within one month to:
1.1. Submit to President of the Republic of Azerbaijan proposals on bringing legislative acts currently in force to conformity with the Law of the Republic of Azerbaijan “On introducing amendment to the Law of the Republic of Azerbaijan “On debts of privatized state-owned enterprises liquidated as a result of agrarian reforms in subjects of economy and subjects of economy in regions under occupation “;
1.2. Ensure bringing normative –legislative acts of the cabinet of Ministers of the Republic of Azerbaijan and Central Executive bodies in conformity with the present Law and report to the President of the Republic of Azerbaijan;
1.3. Solve within the limits of its authorities, other issues resulted from the Law of the Republic of Azerbaijan “On introducing amendment to the Law of the Republic of Azerbaijan “On debts of privatized state-owned enterprises liquidated as a result of agrarian reforms in subjects of economy and subjects of economy in regions under occupation “;
2. The following amendments shall be introduced to the “ regulations of regulating writing off debts of the privatized state-owned enterprises liquidated as a result of agrarian reforms in subjects of economy and subject of economy in the regions under occupation, to the state budget, non-budget state funds, state-owned enterprises for consumption of products, works and services, whose prices are regulated by the state, and outstanding debts of these enterprises to banks, whose control packet of shares is owned by the state” ( collection of the legislative acts of the Republic of Azerbaijan, 2001, N 6, Article 395);
1.1 In point 3.1, first paragraphs of the point 4.2, 5.1, 5.2, sub points 2.1.2 and 4.1.1 of the regulations, the words “ as of October 1, 2000 shall be substituted by the words as of November 1, 2003;
1.2 The point 2.1 of the regulations before the words “ in the frame of shall be supplemented by the word “ privatized, sub-point 2.1.1 before the words in the frame of - by the words for the date of completion of privatization of the enterprises, privatized; sub-point 2.2 before the words “ the given enterprises or” by the words completion of privatization, point 3.1, first paragraphs of the points 4.2 and 5.1, sub-point 4.1.1 before the words “enterprises mentioned in the point 2.1.1 or” – by the words completion of privatization;
1.3 In the first paragraph of point 4.5 of the regulations, the words “ commitment to the Ministry of Finance of the Republic of Azerbaijan shall be substituted by “ commitments to the Ministry of Finance of the Republic of Azerbaijan (tax commitments, dividends paid for state-owned shares);
1.4 The point 4.5 of the regulation shall be supplemented as a second paragraph in the following wording: “ while writing off the debts of banks mentioned in the point 4.1 of the present regulation, and interests charged at the expense of taxes subject to payment on these banks’ obligations accrued to the Ministry of Finance of the Republic of Azerbaijan on transfers to the state budget, a joint protocol shall be drawn up between related bank and Ministry of Taxes of the Republic of Azerbaijan, on which the bank notifies the Ministry of Finance of the Republic of Azerbaijan; while paying off the mentioned debts and interests at the expense of dividends paid for the state-owned shares, a joint protocol is drawn up between the related banks and Ministry of Finance of the Republic of Azerbaijan”.
3. The Present Decree comes into effect from the day of promulgation
Ilham Aliyev
President of the Republic of Azerbaijan
The city of Baku, December 23, 2003