Cabinet of Ministers of Azerbaijan approves number of documents
Baku, Azerbaijan, June 11
The Cabinet Ministers of Azerbaijan approved the "Procedure for evaluating the effectiveness of the activities of legal entities, the controlling stake of shares (shares) of which belongs to the state”, with the decision having been signed by Azerbaijani Prime Minister Novruz Mammadov, Trend reports.
Decision of the Cabinet of Ministers approved the "Standards and rules of corporate governance in joint-stock companies, the controlling stake of which belongs to the state", as well as the "Procedure for granting bonuses to members of the governing bodies of legal entities on a payment system based on the performance of legal entities whose controlling stake is owned by the state".
Amendments to the Procedure may be made in accordance with clause 2.6.1 of the “Provision on the procedure for preparing and adopting regulatory acts of the executive authorities”, approved by decree of the President of Azerbaijan dated August 24, 2002.