Parliament amends law on 'Commercial classified information'

The law on "Commercial classified information" has been amended at the meeting held at the Azerbaijani Parliament today.

While informing MPs with amendments, chairman of the Parliamentary Committee on Economic Policy Ziyad Samadzade said that the changes have been made to the fourth article of the law - "Commercial classified information."

According to the amendments, the information about the founders (participants) of the commercial entities - legal entities, and their share in the authorized capital will be considered as confidential.

In his speech, MP Asim Mollazade objected the bill. Changing the law will negatively affect the fight against corruption and money laundering, he said. There are no such provisions in the legislation of the European countries.

Azerbaijan is an independent country, which acts on the basis of national interests, deputy executive secretary of the ruling "New Azerbaijan" party, MP Mubariz Gurbanli said.

"Changing the law will protect commercial bodies from blackmail," he said.

He added that it serves to the economic interests, in particular the interests of entrepreneurs.

The company in foreign countries provides the information about its founders, and their share only if it is a party to the Stock Exchange, Vice-Speaker of the Azerbaijani Parliament Valeh Alasgarov said.

"If anyone breaks this law in European countries and disseminates information, criminal proceedings are instituted against this person."

According to the amendments to the law on "Commercial classified information", the laws on "State Registration and State Register of Legal Entities" and "Getting information" were also amended.


/Trend/