Regulatory Alerts2022-10-05
Regulations on Issuance and Circulation of Government and Municipal Securities
Issued by the Cabinet of Ministers of Azerbaijan, these regulations establish the legal framework for issuing, placing, circulating, and paying government and municipal bonds. The Financial Markets Supervisory Authority must state-register each issuance based on comprehensive terms of issuance, while placement is primarily conducted through stock exchange auctions that process competitive and non-competitive investor orders. Post-issuance, bonds are traded or closed-placed via investment companies and cleared through designated organizations, with the Central Depository managing safekeeping, accounting, and final withdrawal upon repayment.
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