Regulatory Alerts2021-05-31
Procedure on Disposal of Securities
The State Committee for Securities of Azerbaijan issued this procedure to establish a real-time electronic framework for notarized securities disposal contracts. It mandates immediate data exchange between the Electronic Notary system and the National Depository Center to verify ownership, freeze assets for one business day, process buyer payments through designated notary accounts, and register transfers without additional fees. The regulation defines strict security protocols, liability for data accuracy and system stability, and dispute resolution mechanisms to ensure seamless property right transfers for both certified and uncertified securities.
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