STATE REGİSTER OF LEGAL ACTS OF THE REPUBLİC OF AZERBAİJAN
Type of act |
DECISION OF THE COLLEGIUM OF THE MINISTRY OF AGRICULTURE OF THE REPUBLIC OF AZERBAIJAN |
Date of receipt |
31.01.2019 |
Registration number |
Q-03-19 |
name |
On the approval of the "Regulation on the Competition Commission on the use of funds of the Agrarian Credit and Development Agency under the Ministry of Agriculture of the Republic of Azerbaijan" and "Criteria for the selection of authorized credit institutions" |
Official publication source |
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Effective date |
02.02.2019 |
Index code of the Unified legal classification of the Republic of Azerbaijan |
150.010.000 |
Registration number of the State Register of Legal Acts |
15201901310319 |
The date of entry of the legal act into the State Register of Legal Acts |
01.02.2019 |
Paragraph 1.5 of the "Rule of using the funds of the Agrarian Credit and Development Agency under the Ministry of Agriculture of the Republic of Azerbaijan" approved by Decree No. 413 of the President of the Republic of Azerbaijan dated December 19, 2018 "On the improvement of state support to agriculture and leasing activities in the agricultural sector" In order to ensure its implementation, the Collegium of the Ministry of Agriculture of the Republic of Azerbaijan, guided by clause 12.2 of the "Regulations on the Ministry of Agriculture of the Republic of Azerbaijan" approved by Decree No. 226 of the President of the Republic of Azerbaijan dated April 20, 2005
RESOLVES:
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“The Regulation on the Competition Commission on the use of funds of the Agrarian Credit and Development Agency under the Ministry of Agriculture of the Republic of Azerbaijan" should be approved (attached).
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2. "Criteria for the selection of authorized credit institutions" should be approved (attached).
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3. The Legal Department of the Office of the Ministry of Agriculture of the Republic of Azerbaijan should ensure that this decision is submitted to the Ministry of Justice of the Republic of Azerbaijan within 3 days for inclusion in the State Register of Legal Acts.
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4. 4. The supervision of the implementation of Bugarar should be entrusted to Ilhama Gadimova, Deputy Minister of Agriculture of the Republic of Azerbaijan.
Chairman of the Collegium,Minister |
Inam Karimov |
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Approved by the decision of the Board of the Ministry of Agriculture of the Republic of Azerbaijan No. "Q-03-19" dated January 31, 2019 |
Regulation on the Competition Commission for the use of funds of the Agrarian Credit and Development Agency under the Ministry of Agriculture of the Republic of Azerbaijan
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General provisions
1.1. This Regulation is approved by the Decree No. 413 of the President of the Republic of Azerbaijan dated December 19, 2018 "On the improvement of state support to agriculture and leasing activities in the agricultural sector" 1.5- It was prepared according to paragraph c and authorized banks, taking into account the regional structure and regional scope of using the funds of the Agrarian Credit and Development Agency (hereinafter - the Agency) under the Ministry of Agriculture of the Republic of Azerbaijan for the purpose of financing the development projects of the agrarian unit and the concessions given to the means of agricultural production, regulates the activity of the Competition Commission (hereinafter - the Commission) established to carry out the selection of non-bank credit organizations and leasing organizations (hereinafter - authorized credit organizations).
1.2. In its activities, the Commission is guided by the Constitution of the Republic of Azerbaijan, laws of the Republic of Azerbaijan, decrees and orders of the President of the Republic of Azerbaijan, decisions and orders of the Cabinet of Ministers of the Republic of Azerbaijan, as well as legal acts of the Ministry of Agriculture of the Republic of Azerbaijan (hereinafter - the Ministry) and this Regulation.
1.3. During its activities, the commission cannot interfere in the assignment of loans granted at the expense of the Agency, obtain information from the Agency about those loans and borrowers, as well as make proposals or candidates for the list of authorized credit organizations, insurers or appraisers.
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Activities of the commission
2.0. The activities of the commission are as follows:
2.0.1. ensure the selection of authorized credit organizations taking into account the regional structure and regional coverage;
2.0.2. To determine the specific volume of the credit line (funds under the limit) under the contract concluded between the agency and authorized credit institutions.
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Composition of the Commission
3.1. The composition of the commission is approved by the minister of agriculture of the Republic of Azerbaijan (hereinafter - the minister).
3.2. The composition of the commission includes 2 members from the Ministry, 1 member from the Agency and 2 members from non-governmental organizations, totaling 5 members.
3.3. The commission is composed of the chairman, his deputy, other members and the secretary. The secretary of the commission is appointed from among the administrative staff of the Agency.
3.4. The chairman of the commission is elected from the members of the Ministry, and the deputy chairman is a member of the Agency. If the chairman of the commission is absent or unable to perform his duties, the deputy chairman of the commission replaces him.
3.5. The chairman of the commission is elected by open voting at the commission's meeting for the term of the commission's authority.
3.6. The members of the commission operate on a public basis.
3.7. The term of office of the members of the commission is 3 years.
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Conducting the meetings of the commission
4.1. When at least three members of the Commission are present, the Commission meetings are considered authorized.
4.2. Decisions of the commission are made by open voting and simple majority. If the number of votes is equal, the vote of the Chairman of the Commission is considered decisive.
4.3. Issues related to the activities of the Commission are reviewed within 7 working days, and a corresponding decision is made at the Commission's meeting. The decision of the Commission on the selection of authorized credit organizations is adopted on the basis of the selection criteria of authorized credit organizations in accordance with the documents specified in Part 5 of this Regulation. The decision taken at the commission meeting is formalized with the protocol. The protocol is signed by all members of the Commission.
4.4. If a member of the commission is a representative of a credit institution, that representative may not participate in voting related to the credit institution.
4.5. The protocol of the meeting of the Commission, having the same legal force, is drawn up in a copy corresponding to the number of members of the Commission and sent to the state bodies and organizations specified in clause 3.2 of this Regulation.
4.6. Authorized credit organizations are informed about the results of the decisions taken by the Commission.
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Documents submitted to the Commission regarding the selection of authorized credit institutions
5.0. The following documents related to the selection of authorized credit institutions are submitted by the Agency to the Commission:
5.0.1. documents on the legal status of the authorized credit organization (constitutional documents, license (permit);
5.0.2. copies of decisions (orders) on the appointment of the head of the sole executive body and the chairman of the Management Board of the authorized credit institution;
5.0.3. copies of signatures and seals of responsible persons of the authorized credit institution;
5.0.4. financial statements for the last year approved by an external auditor's opinion (if available);
5.0.5. information about the branches of the authorized credit institution;
5.0.6. information on the rating given to the bank by international rating agencies (if such rating was given);
5.0.7. Copy of the agreement on information supply between the Azerbaijan Credit Bureau and authorized credit organizations;
5.0.8. Documents (data) obtained from the Financial Markets Control Chamber of the Republic of Azerbaijan and from the authorized credit institution in accordance with the financial and statistical indicators of the authorized credit institution, prudential norms, as well as the legislation on the assessment of the financial situation based on the request of the Agency or the Commission;[1]
5.0.9. Information submitted to the Agency by the Central Bank of the Republic of Azerbaijan on the financial and statistical indicators of authorized credit institutions every year until February 1.[2]
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Approved by the decision of the Board of the Ministry of Agriculture of the Republic of Azerbaijan No. "Q-03-19" dated January 31, 2019 |
Selection criteria of authorized credit institutions
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The selection criteria of authorized credit institutions are as follows:
1.1. Satisfactory financial statements, capital adequacy and capital changes of the authorized credit institution;
1.2. complying with prudential norms and requirements, its activity in accordance with the laws of the Republic of Azerbaijan "On banks", "On non-bank credit institutions", "On the fight against the legalization of money or other property obtained through crime and the financing of terrorism" and the financial markets control body implementation in accordance with the requirements of normative acts;
1.3. complying with the restrictions included in the license or permit issued by the financial markets control authority and other authorities;
1.4. the type, duration, weight of the impact measures applied by the financial market control body.
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Compliance with the criteria specified in clauses 1.1-1.4 of these criteria is determined on the basis of the documents (data) submitted by authorized credit organizations.[3]
LIST OF SOURCE DOCUMENTS USED
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Decision of the Collegium of the Ministry of Agriculture of the Republic of Azerbaijan No. Q-01-20 dated July 24, 2020 (registration number of the State Register of Legal Acts 15202007240120, date of entry into the State Register of Legal Acts August 6, 2020)