1. General provisions.
1.1 These Directions are made to execute “The Law about privatization of state property of the Republic of Azerbaijan”, “ The Rules of selling state property at auctions” approved by the Decree of the President of the Republic of Azerbaijan dated 23.12.2000 432, IV article of the Decision of the Cabinet of Ministers about the approving the regulation of “Accounting,valuation, keeping, using and selling of the confiscated, ownerless property, possessions and treasures taken into state property” dated 18.04.2002 69.
1.2 These Directions define the rules of auctions of the following properties:
- Confiscated property according to the legal decision of the court.
- Ownerless property according to the legislation.
- Possessions taken into state property according to the succession law.
1.3 The notions used in these Directions indicate the same meaning with those in the Civil Code, “The Law about accounting of the Republic of Azerbaijan”, “ The Rules of selling state property at auctions” approved by the Decree of the President of the Republic of Azerbaijan dated 23.12.2000 432.
1.4 The auction of the property shownin the 1.2 of these Directions is realized by the AuctionCenter attached to the Ministry of the Economic Development according to the civil legislation and all kinds of securitiesby the exchange fund.
2 Auctions of the possessions.
2.1 The Ministry of Finance after receiving information about confiscated, ownerless property, possessions taken into state property from officers of the law apply to the Ministry of the Economic Development to take those properties over.
If appears the necessity to valuate the property confiscated, taken into state property the Ministry of Finance presents materials to the organizer got as the result of the realizing measures shown in the 2.2 of the “Rules of accountingof the the confiscated, ownerless property, possessions and treasures taken into state property”.
2.2 The AuctionCenter creates the Commission to hold auctions. The Commission consists of 5 memmbers from the Ministry of the Economic Development (2 persons), the Ministry of Finance , the Ministry of Justice and the Ministry of Taxes.
2.3 Organizer publishs announcement showing the form of auctions holding in the mass media, the full name of property, its address, starting price, beginning and ending dates for receiving orders, the address of the points to receive documents, the list and requests for arranging documents that should be given alongside with orders to participate in auctions, the date, time and address of auctions, the sum of the 10% of deposit of the property`s selling price and bank account for transferring that deposit.
2.4 In the auction can participate juridical and physical persons considering buyers according to the legislation, presenting order and other necessary documents within the 3 (bank days) remaining till the auction.
2.5 The copy of the document on verifying transfer the bill , the copies of regulations and registration certificate of juridical persons must be added to the order.
If the order is given by the represantatives of the juridicial and physical persons they shoul present document proving their rights on behalf of customer.
2.6 The order and other necessary documents receiving by the organizer are registered and the customer is provided with the ticket indicating their participation number and the name of the selling property.
2.7 If the property is not sold or in the case of no orders at the first two auctions the starting price is reduced by the organizer as followings:
10 % of the first starting price in the third auction.
25 % of the first starting price in the fourth auction.
50 % of the first starting price in the fifth auction.
The Ministry of Finance and The Ministry of Economic Development apply to the Cabinet of Ministers with the presentation about the transferring of unsold properties to the relevant bodies.
The unsold property is given to the organizations within 15 days according to the order of the Cabinet of Ministers.
2.8 The result of auction is formalized with the protocol signed by the winner and the members of the commission.
The expenses of the keeping, selling, valuation, hallmarking , examination of the properties are shown in the protocol.
2.9 The protocol of the abortive auctions are also made up.
2.10 The copies of protocol about the results of auction is given to the representatives of the Ministry of Finance.
2.11 Amounts received from the sell of properties (except the money of the smuggling) given on the 1.2 of these Directions
with the deduction of expenses of the keeping, selling, valuation, hallmarking, examination those properties is transferred to the state budget within 3 (bank) days.
The copy of transformation is attached to the protocol that is given to the Ministry of Finance.
2.12 After signing contract with the winner the deposit that was paid before the auction is added to the money paid to the state budget through the implementation of commitments.
2.13 The expenses of the keeping, selling, valuation, hallmarking, examination of property should be paid within 3 (bank) days to the account shown in the protocol about the results of auction.
2.14 If the winner refuses to sign the protocol about the results of auction or do not pay the rest of the money the result of the auction is canceled and the paid deposit is not returned.
If the auction is not held or the persons don’t participate inspite of paying the deposit for participation, the deposit is returned to the customer within 10 bank days according to the list presented by the organizer.
If the organizer refuses to sign the protocol deposit should be double paid and gives compensation.
2.15 The organizer may refuse tohold auction whenever he wants but 3 days remaining till the auction.
Organizer should pay compensation if he refuses to hold auction through breaking these days.
2.16 The selling of all kinds of securities by the exchange fund are realized according to the defined rules.
3 Formalization of the property law of the sold possession.
3.1 The property law of the real estates sold on auction is formalized with the certificate given by the Ministry of Economic Development. The formalization of the means of transports to the name of buyer is realized in relevant bodies according to the appeal of the Ministry of Economic Development.
3.2 The handover of the property is realized with the “Statement” and “Invoice”. The copies of the “Statement” and “Invoice” are presented To The Ministry of Finance.
3.3 The accounting of the Receiving-delivery property is regulated with the “Rules of accountingof the the confiscated, ownerless property, possessions and treasures taken into state property”.
4.1 The breaking of the requests of these Directions entail responsibility.