Laws, orders and decrees in Azerbaijan last week (Sept. 12-17)

Sept. 12

President of Azerbaijan Ilham Aliyev has signed an order on additional measures to speed up socio-economic development of the Sheki city. Under the order, the Sheki City Executive Power will receive five million manat from the President's Reserve Fund to speed up socio-economic development of the city. The Ministry of Finance was instructed to ensure allocation of funds provided by the order.

Sept. 14

The Azerbaijani parliament develops a draft law to improve social status of population of the regions. This document is first directed at preventing migration of young peoples from the regions, one of the authors of the draft law, Parliamentary Social Policy Committee member Yagub Mahmudov told Trend. "Good conditions should be created for youth in their regions. They should be provided with lands, loans, their living conditions should be improved and social problems should be addressed," Mahmudov stressed. He said these issues will be reflected in the draft law, which is planned to be prepared in a year.

Sept. 15

President of Azerbaijan Ilham Aliyev signed an executive order on additional measures to boost socio-economic development in the region of Gobustan. Under the order, the local government authorities of Gobustan received two million manats from the President's Reserve Fund to this end. President of Azerbaijan Ilham Aliyev also signed an executive order on additional measures to boost socio-economic development in the region of Shamakhy. Under the order, the local government authorities of Shamakhy will receive initially five million manats from the President`s Reserve Fund to conserve historical and cultural heritage, monuments, create modern tourism infrastructure and boost the region's economy.

Sept. 17

New Law on compulsory insurances takes effect in Azerbaijan

A new Law on compulsory insurances took effect in Azerbaijan. The new law regulates the four types of compulsory insurance - real estate, liability of owners of motor vehicles, passenger insurance, and liability insurance for exploitation of real estate.

According to presidential order on the application of this law, signed on Sept. 15, the Finance Ministry was instructed to, within two months, determine the amount of the participation fee and deposit under the provision for insurers wishing to become members of the Compulsory Insurance Bureau. The Finance Ministry was also instructed to define the rules of forming a reserve of contingent liabilities of insurers that are members of the Bureau, and the amount of this reserve.

Within two months, the Finance Ministry should determine the order of calculating insurance rates for compulsory insurance of real estate and address other issues arising from the presidential order.

President of Azerbaijan Ilham Aliyev approves new Customs Code

President of Azerbaijan Ilham Aliyev has approved new Customs Code, which will come into force from Jan. 1, 2012.

The existing Customs Code was adopted in 1997. This law will lose its affect from the beginning of the next year. The new Customs Code requires improving about 70 percent of the legal acts in force in the country.

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