Azerbaijan State Securities Committee Fines Spektr IK for Contravening Law on Lotteries

Business Materials 29 October 2007 19:30

Azerbaijan, Baku / Trend corr A. Badalova/ Spektr IK LLC put for sale 'Kukuruz' products and attached a lottery to them without informing the State Securities Committe, the Committee reported.

Spektr IK was fined AZN 220 for contravening the Law on Lotteries,.

The Law on Lotteries says one shall inform the State Securities Committee of his/her intensions to launch a stimulating lottery 5 days beforehand. Spektr IK did not reply to the letter sent by the Committee on 10 September.