Lexology Getting the Deal Through: Arbitration 2022

Azerbaijan is a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. The Convention was ratified by the Parliament on 9 November 1999. No declarations or notifications were made under any of the articles of the Convention. In addition to the New York Convention, Azerbaijan is a party to the European Convention on International Commercial Arbitration.

Amendments to the legislation in the Republic of Azerbaijan

The Law of the Republic of Azerbaijan “On making amendments to the Labor Code of the Republic of Azerbaijan” #529-VIQD was adopted on May 13, 2022 and entered into legal force on June 10, 2022.

The Law has extended the list of grounds for termination of employment contracts in cases not depending on the parties' will. Hence, according to Article 74.1-1 upon the employee's application to the State Labor Inspectorate Service, an employment contract concluded with a natural person acting as an employer can be deemed terminated on the following grounds.

Prohibition on disposal of shares (stocks) in authorized capitals of Belarusian companies

On July 6, 2022 the Resolution of the Council of Ministers came into force, which defined the list of Belarusian companies, shareholders (stockholders) of which are prohibited to dispose their shares (stocks) in the authorized capitals of Belarusian companies. The list includes both the Belarusian companies and the shareholders (stockholders) against which the prohibition is imposed. The stocks of the mentioned stockholders are blocked on the "depo" security account due to the order of the Ministry of Finance of Belarus.

Electronic invoices verification upon export of goods to Russia

At present the State revenue committee of the Ministry of finance of the Republic of Kazakhstan considers a draft of the Rules on implementation of the pilot project on accounting of the certain types of goods upon their export from the Republic of Kazakhstan (the ‘Pilot project’).

On the adoption of the Law of the Kyrgyz Republic "On Renewable Energy Sources"

The law establishes the legal, organizational, economic and financial framework, mechanisms for regulating relations between the state, producers, suppliers and consumers of renewable energy sources, equipment for production, installations using renewable energy sources.

Free economic zones opportunities in Moldova

In line with the best practices of Grata International, we are coming to offer you a short presentation on the opportunities offered by the Free Economic Zones from Moldova. The Framework Law was adopted in 2001. Based on its provisions, local and foreign investors have obtained many facilities and opportunities: The basic condition for becoming a resident of a Free Zone is that the investor, either a natural or legal person, is registered as an entrepreneur. 

Legal Alert: Relevant procedures for virtual asset service providers have been approved

In October 2019, Mongolia was placed on the list (by the International Organization for Financial Action Task Force (FATF)) of countries having strategic deficiencies in their regimes to combat money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. 1 year later in October 2020, it was successfully removed from the list.

The draft amendments to the Constitution has been published for public discussion in Uzbekistan

The Legislative Chamber of the Oliy Majlis approved in the first reading the draft law on amendments to the Constitution of the Republic of Uzbekistan (the “Draft”), after which the draft was published for public discussion on the portal “This is my Constitution.”