BAKU, Azerbaijan - A proposed conflict-of-interest law in Azerbaijan would prohibit officials from conducting business through themselves or nominees, receiving income from certain offshore securities and trading on nonpublic information obtained through their duties.
The bill has been submitted to the Milli Majlis, Azerbaijan’s parliament, but has not become law and could change during the legislative process.
Business and Investment Restrictions
The proposal would bar officials from entrepreneurial, commercial or other paid work conducted directly or through other people. Scientific, teaching and creative work would be exempt.
Officials would also be barred from receiving income from securities issued by entities registered in tax-free or preferential-tax jurisdictions. A separate provision would prohibit securities transactions using undisclosed information obtained through official duties.
Income from deposits, securities, rent, royalties and leases would remain permissible when it is not connected to a business, other paid activity or the use of official authority.
Restrictions After Leaving Office
Officials would be prohibited from serving on the governing bodies of commercial entities or representing their interests. While in office, they could not represent third parties in matters involving their agency; the bill would extend that restriction for two years after they leave office.
Additional employment or outside activity other than scientific, teaching or creative work would require a finding by an authorized body that it creates no conflict of interest and does not interfere with official duties.
Sources: Report; ABC.AZ; Vesti Baku.