NEW SALE AND PURCHASE RULES FOR SECURITIES APPROVED
As was informed to AzerTAj from the information and public relations department of the State Committee on Securities, according to the said Rules the owner of the nominal documentary securities receives the right of the conclusion of transactions with securities in his property only after registration for the name of the certificate of the given securities.
In case of alienation by the owner of securities of all or a part of the securities for the benefit of one or several clients, the persons selling and buying securities, should present the certificate and an extract from the register of securities to the emitter in time, specified in the contract of sale and purchase (if the register is not conducted by the emitter).
The emitter within 10 working days should provide registration of new certificates addressed to owners of securities and their representation.
In case if the emitter does not conduct the register of securities the holder of the register can carry out reception or cancellation of the certificate and representation of the new certificate. The given fact should find its reflection in the contract made by the holder of the register with the emitter.
In the document, rules of cancellation of the certificate of securities also are specified.
Storage and physical destruction of the certificate of the securities recognized void are carried out according to the current legislation of the Azerbaijan Republic.
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