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Azerbaijani president approves amendments to law on banks

Azerbaijani president approves amendments to law on banks
Azerbaijani President Ilham Aliyev has signed a law approving amendments to the law "On banks”, APA reports.

The following amendments have been made to Article 57-11.6 of the law:

1.1.  The phrase "up to a total of 90 days” has been removed from the third sentence;
 

1.2.  Forth and fifth sentences have been added in the following content: "The extension granted on each appeal may not exceed 180 days. The number of such extensions is not limited.”

The Transitional provision (Article 2) states that Article 1 of the current law applies to restructuring processes which had commenced before the law entered into force.

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