Changes are being made to the rules for maintaining the secrecy of notarial acts.
Modern.az reports that this issue is reflected in the draft amendments proposed to the laws "On Notaries" and "On State Registration and State Register of Legal Entities," which were discussed at today's session of the Milli Majlis.
According to the project, in accordance with the Law "On State Registration and State Register of Legal Entities," information related to contracts for the alienation of shares in the authorized capital of commercial legal entities, the transfer of shares in the authorized capital to another person by inheritance, the encumbrance of shares in the authorized capital, and the appointment of a property administrator by a notarial p within the framework of measures for the protection of inheritance when the founder of a commercial legal entity whose founder and legal representative are the same person dies, will be transmitted in real-time via the Electronic Government Information System (EGIS) to the p (institution) determined by the relevant executive authority.
Changes are also being made to the rules for registering amendments made to founding documents and subsequent changes to registered facts.
Thus, the following information regarding commercial legal entities will be obtained and registered online directly through EGIS by the p (institution) determined by the relevant executive authority:
- information related to contracts for the alienation of shares in the authorized capital;
- information related to the transfer of shares in the authorized capital to another person by inheritance;
- information related to the encumbrance of shares in the authorized capital;
- information related to the appointment of a property administrator by a notarial p within the framework of measures for the protection of inheritance when the founder of a commercial legal entity whose founder and legal representative are the same person dies.
Commercial legal entities, as well as representative offices or branches of foreign commercial legal entities, must submit a report, the form of which is determined by the p (institution) designated by the relevant executive authority, regarding whether there have been any changes in their founding documents and registered facts, in paper or electronic form, to the p (institution) designated by the relevant executive authority by the 31st of the month following the end of the calendar year.
Finally, the issue was put to a vote and adopted in the third reading.
