Failure to use the funds of legal entities owned by the state for their designated purpose will be considered a crime.
Medianews.az reports that this is reflected in the draft law on amending the Criminal Code, discussed at today's plenary session of the National Assembly.
According to the draft law, failure to use the state budget, targeted budget funds, extra-budgetary state funds, or funds of legal entities owned by the state for their designated purpose, when committed in a considerable amount, shall be punished with a fine equal to 100 percent of the value of the subject of the crime (the funds used outside their designated purpose) (currently this fine ranges from 9,000 to 13,000 manats), along with deprivation of the right to hold a certain office or engage in certain activities for up to three years, or deprivation of the right to hold a certain office or engage in certain activities for up to three years combined with imprisonment for up to three years.
If the same acts are committed in a large amount, the punishment shall be a fine equal to 100 percent of the value of the subject of the crime (the funds used outside their designated purpose), restriction of liberty for up to three years, or deprivation of the right to hold a certain office or engage in certain activities for up to three years combined with imprisonment for a term from three to six years.
According to current legislation, if the same acts are committed in a large amount, they are punishable by deprivation of the right to hold a certain office or engage in certain activities for up to three years combined with imprisonment for a term from three to six years.
A person who has committed the acts mentioned above for the first time and fully reimburses the value of the subject of the crime (the funds used outside their designated purpose) shall be exempted from criminal liability.
By "legal entities owned by the state" above, are meant commercial legal entities whose shares (stocks) of 51 percent or more are directly or indirectly owned by the state, non-commercial legal entities and public legal entities created by the state, as well as subsidiary economic societies, non-commercial legal entities, and public legal entities whose shares (stocks) of 51 percent or more are directly or indirectly owned by such legal entities mentioned above.
The term "considerable amount" refers to an amount ranging from 50,000 to 250,000 manats, and the term "large amount" refers to an amount exceeding 250,000 manats.
The draft law was put to a vote after discussions and adopted in the third reading.