REGULATION OF THE SECTOR FOR ORGANIZING DISCOUNT SALES OF AUCTION CENTER FOR ORGANIZING AUCTIONS UNDER THE STATE COMMITTEE ON PROPERTY ISSUES OF THE REPUBLIC OF AZERBAIJAN

 1 General provisions.

 1.1    1.1. This regulation is prepared  in accordance with “ The  Decree of the President  of the Republic of Azerbaijan to ensure the action of State Committee on Property Issues of the Republic of Azerbaijan  ” dated 24 June 2009, 116,  “ The Regulation of the Auction Center for Organizing Auctions under the State Committee on Property Issues” that was approved according to that Decree, “ the structure of the Auction Center approved with the order of the Chief  of the State Committee on Property Issues” dated 29 June, 06, “The Decree of the President of the Republic of Azerbaijan About the statement of the II  State Programe of privatization of the state property in the  Republic of Azerbaijan.” dated 10 August 2000, 383, “The Regulation about the  selling of the shares of state-owned enterprises into open join-stock companies” approved by the  Decree  of the President of the Republic  of Azerbaijan dated 23.12.2000 432, other valid normative juridical acts and defines the activity and the rules of organizing performance of the sector for organizing discount sales  of the Auction Center for Organizing Auctions (hereinafter referred as the Auction Center) Under the State Committee on Property Issues (hereinafter referred as the  Committee).

1.2. The sector organizes the sale of shares of state enterprises and objects, as well as joint stocks established on the basis of state enterprises during the privatization process to the labor collective and persons equated to them.

1.3. Activity of the sector is guided by the Constitution of the  Republic of Azerbaijan, the laws of the Republic of Azerbaijan, decrees and orders of the President of the Republic of Azerbaijan, decisions and orders of the Cabinet of the Ministers of the Republic of Azerbaijan,  other normative juridical acts, orders and decrees of the Chair of the State Committee on Property Issues of the Republic of Azerbaijan , the order and constructions of the director of the Auction Center.

          II Duties of the sector

2.1. To execute duties shown in  the regulation of the AuctionCenter,

-  to execute the legislative acts in force and orders, decrees and commands of the leadership,

- to obtain information about the selling of the shares of the joint stocks established on the basis of state enterprises to the labor collective and persons equated to them in accordance with legislation,

-   to provide the chairmen of the commissions in the privatization of the joint stock companies with the information about the rules of the selling shares to the labour collective and persons equated  to them and the cost of the one privatization cheque.

- to control over the organizing the process of  selling of shares of joint-stock companies to the members of the labor collective  in  equal, healthy competitive environment, transparent condition, public control, social justice, transparency and legality principles.

- to receive and check the documents  about the results of discount sales of shares(stocks) to labor collective and privatization cheques from commission in accordance with legislation,

- to provide the approving of  the documents  about the results of discount sales of shares(stocks) to labor collective and the disposal of the cheques,

-  to submit  the copy of the  confirmed documents on  the result of discount sales to the privatization commission,

2.2 to ensure the preferential giving of 15% of the start price of the enterprises and objects that are privatized as small enterprises to the  privatization cheques by the State Committee on Property Issues, to organize the performance of the commission :

- to accept documents about the discount sale from the authorized persons or members of the labor collective in the privatization process of the small state enterprises and objects, check their conformity to legislation,

- to submit  documents on the result of the discount sale of the small state enterprises and objects to  the Commission`s discussion for approving,

- to ensure the delivery of the approved notifications to the persons obtained the share of the property in accordance with the result of the discount sale of the small  state enterprises and objects,

2.3 to ensure the handing over the disposed privatization cheques in accordance with the result of the discount sale of the joint stocks and small state enterprises to the person responsible for.

2.4  to ensure the storage of the date about the discount sale of the shares and the shares of the property in electronic and paper form.

 III Organization of  the activity of the sector.

3.1 The head of the sector is appointed and discharged by the chairman of the Committee.

3.2 The other employees of the sector are appointed and discharged by the director.

   IV Responsibilities of the employees of the sector.

 4.1  The employees of the sector bear responsibility  for execution of the duties shown  on the II part of this Regulation in accordance with defined legislation.

  V The cancellation of the sector.

 5.1 The cancellation and re-creation of the sector is realized in accordance with legislation.