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
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