OFFICIAL DOCUMENTS


DECREE OF PRESIDENT OF THE REPUBLIC OF AZERBAIJAN

ON MEASURES ON ADJUSTMENT OF SOCIAL PAYMENT DEBTS OF THE STATE ENTERPRISES BEING PRIVATIZED AND TRANSFERRED TO MANAGEMENT

With a view to strengthen social protection of the population as well as to insure investments flow in the state enterprises being privatized and transferred to management I hereby decree:

1. “Regulations of Repayment of Social Payment Debts of the State Enterprises Being Privatized and Transferred to Management” shall be approved.

2. It shall be set that in accordance with the Regulations mentioned in the clause 1 of the present Decree, the repayment of debts of the state enterprises is carried out at the expense of funds envisioned by 2003-2004 State Budget of the Azerbaijan Republic for the Ministry of Economic Development of the Azerbaijan Republic for involving independent financial consultant in the process of privatization of the state property, organization of related information support and pre-privatization recovery of the enterprises, as well as the funds of obligatory state social insurance.

3. Ministry of Economic Development, Ministry of Finance and State Fund for Social Protection of the Azerbaijan Republic shall take necessary actions connected with execution of the present Decree.

4. The presents Decree comes into effect since the day of promulgation.

Heydar Aliyev

President of the Republic of Azerbaijan

September 26, 2003

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