Glossary of Legal Terms
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Profit less profit tax
Initiative as well as collection of signatures directed to support the initiative on determination of persons envisaged to be elected as an deputy of the Milli Majlis of the Republic of Azerbaijan, President of the Republic of Azerbaijan and a municipality member, or other methods of carrying out of an initiative in accordance with provision provided for in this Code
Legal entity, engaged in award of credits in monetary form only from its own funds and/or attracted funds (with exception of deposits)
It is a conduct of legal activity the purpose of which is not generation of profit and that stipulates the use of income received in non-commercial purposes only, including the purposes of its charter. Otherwise such activity shall be considered as commercial.
Legal person that conducts non-commercial activity, does not distribute the generated income between its founders (shareholders) and does not use such income for commercial purposes. Otherwise such organization shall be considered as commercial.
Is a form of issuing securities, the owner of which is determined on the basis of the record in the register of securities owners or on the basis of record put down to a deposit account
Are securities, which are not distributed by separate issues and have different amounts and terms of rights realization. Non-issuing securities include bills of exchange, checks, depository certificates; options, warrants, futures, privatization shares and other types of securities referring to this definition
Insurance against risks related to the liabilities, property and interests of the insured by paying to the insured the incurred loss at the time the insurance accident takes place
Physical persons having permanent place of residence outside the Azerbaijan Republic, including those temporarily living in the Azerbaijan Republic; legal entities, enterprises and organisations which are not legal entities and are located abroad, their subsidiaries and representations in the Azerbaijan Republic; foreign diplomatic and other official representations located in the Azerbaijan Republic, and also international organisations including their subsidiaries and representations
a) physical persons living permanently outside the Azerbaijan Republic including those living temporarily at the territory of the Azerbaijan Republic;
b) legal entities and enterprises and organisations located outside the Azerbaijan Republic which have been established according to legislation of the Azerbaijan Republic but have no status of legal entity;
c) foreign diplomatic and other official representations and also international organisations, their subsidiaries and representations located in the Azerbaijan Republic;
d) subsidiaries and representations of non-residents (bureaus and agencies) specified in subparagraph «b» of the present paragraph which are located in the Azerbaijan Republic.