TODAY.AZ / Business

SCS approved regulations of Nakhchivan branch of National Deposit Centre

07 March 2006 [09:30] - TODAY.AZ
The State Committee for Securities (SCS) approved regulations of the Nakhchivan branch of the National Deposit Centre (NDC).

As APA was informed from SCS, regulations that have already become effective include branch's corporate objective and authorities, legal status, property, financial and economical activities, governance of branch.

It should be noted that last year the President Aliyev signed a document on establishment of a local office of SCS and currently repairs are conducted in an administrative building allocated for the office. Opening of the Nakhchivan branch of NDC aims to help stockholders with operations on securities and ease their activity in this field. Holders of securities living in Nakhchivan will no more have to come to Baku for obtaining an extract on their securities from the register of stockholders and implementing any operation with securities.


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