Azerbaijan Sets Income Restrictions for Officials
Restrictions on officials' income are set out in the conflict of interest bill under discussion in the Milli Majlis. The bill is being considered in the Azerbaijani parliament.
Yulduz Salimov1 min read
Restrictions on the income of officials in Azerbaijan are specified in the bill "On Conflict of Interest." According to APA.AZ, the document was submitted for discussion at a joint meeting of the Milli Majlis committees on legal policy and state building, as well as on defence, security and the fight against corruption.
Under the bill, an official may not receive income from securities of an issuer exempt from taxes or enjoying a preferential tax regime, as well as from securities registered in territories or states listed in the law "On Crowdfunding."
An official may not engage in entrepreneurship, commercial or other paid activity, either directly or through other persons, except for scientific, pedagogical and creative activity. In this case, the official may receive income from deposits, securities, royalties, prizes or rent in accordance with the legislation of the Republic of Azerbaijan, provided these are not connected with entrepreneurship, commercial activity or the performance of official duties.
The bill also prohibits the use of insider information obtained in connection with the performance of official duties for transactions involving securities. In addition, an official may not be a member of the management bodies or audit commissions of subjects of entrepreneurship, except in cases where the state or a municipality is represented.
Source: apa.az
