...

Azerbaijan adopts a law allowing the seizure of debtor's bank account, stored property

Society Materials 2 August 2023 16:18 (UTC +04:00)
Azerbaijan adopts a law allowing the seizure of debtor's bank account, stored property
Humay Aghajanova
Humay Aghajanova
Read more

BAKU, Azerbaijan, August 2. A debtor's bank account and stored property can be arrested in Azerbaijan, Trend reports.

This issue has been reflected in the law "On amendments to the law of the Republic of Azerbaijan "On execution", approved by President of the Republic of Azerbaijan Ilham Aliyev.

According to the law, the Parliament of the Republic of Azerbaijan, guided by Article 94, Part I, Point 6 of the Constitution of the Republic of Azerbaijan, has decided to:

make amendments to the law of the Republic of Azerbaijan "On execution" (Collection of laws of the Republic of Azerbaijan, 2002, No. 3, Article 114; 2003, No. 6, Article 277; 2004, No. 8, Article 598, No. 11, Article 901, No. 12, Article 973; 2007, No. 1, Article 3, No. 6, Article 562, No. 11, Article 1053; 2008, No. 6, Article 462, No. 7, Article 602; 2009, No. 12, Article 952; 2010, No. 2, Article 75, No. 7, Article 591; 2011, No. 6, Article 482, No. 7, Article 618; 2012, No. 11, Article 1052; 2013, No. 6, Article 613, No. 7, Article 787, No. 12, Article 1494; 2015, No. 12, Article 1434; 2016, No. 12, Article 2050; 2017, No. 2, Article 156, No. 6, Article 1056, No. 8, Article 1511; 2018, No. 2, Article 151, No. 5, Articles 853, 867, No. 7 (book I), Article 1424, No. 8, Article 1674, No. 12 (book I), Article 2528; 2019, No. 1, Article 21, No. 2, Article 203, No. 6, Article 999; 2020, No. 7, Articles 828, 856; 2021, No. 4, Article 312, No. 8, Article 898, No. 11, Article 1206, No. 12, Article 1311; 2023, No. 1, Article 18) as below:

1. Present Article 45.3 in the following edition:

"45.3. The executor obtains information about the debtor's available property and accounts held in banks and other credit organizations, as well as the balances on these accounts, in accordance with Article 41.2 of the law of the Republic of Azerbaijan "On banks", and they are arrested in the size and volume necessary for implementing the execution document, in accordance with Article 45.7 of this law".

2. In the first paragraph of Article 45.4, the words "if there is no information about their accounts and deposits, the enforcement officer requests this information from the tax authorities" must be replaced with "the execution officer may request information about the existence of their accounts from the tax authorities".

Tags:
Latest

Latest