Determined the minimum of the authorized capital of the participants of the securities market
The State Securities Committee has defined the minimum requirements for authorized capital of licensed securities market entities.
According to the SSC, the authorized capital stock exchange, the clearing organization and the depositary of the investment fund may not total less than 1 million manat. The minimum capital of an investment company providing major investment services (category A) will be 300 thousand AZN and the index for a company providing ancillary investment services (category B) – 75,000 manat.
The authorized capital of these companies should be formed only in cash. However, those companies that operated prior to the adoption in July of this year of, the law "On the Securities Market" can contribute to the capital funds in the form of property. According to this law, the organizational and legal form of the professional participants of the securities market is defined as a joint stock company (JSC). By the end of this year, companies established in the form of a limited liability company are to be transformed into joint-stock company.
This decision was taken by SSC in September and made public in the register of legal acts in the beginning of November. ---08D
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review