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Some powers of Central Bank transferred to Financial Market Control Chambe

Some powers of Central Bank transferred to Financial Market Control Chambe

Economy
03 March 2016, 13:55 675
Some powers of the Central Bank of Azerbaijan are transferred to the Financial Market Control Chamber.

According to APA, the Civil Code has today been amended at the meeting of Azerbaijani parliament's Committee on legal policy and state-building.
 
According to the amendment, the words "Central Bank of Azerbaijan” in the article #986-3.2.2. of the Civil Code are replaced by the words "Financial Market Control Chamber”.
 
The amendments also include power of "Registration of securities (excluding investment fund share) by the relevant executive body”.
 
According to another amendment, all powers regarding securities are transferred to the Financial Market Control Chamber.
 
The amendments were recommended to plenary meeting of the parliament.