Azerbaijan Investment Holding (AIH) has been established as a public legal entity.
According to Gadin.Net, President Ilham Aliyev signed a relevant decree.
The decree approved the "Charter of the Azerbaijan Investment Holding".
The decree states that a Supervisory Board and a Board of Directors will be established to manage the activities of the ECHR.
The ECHR shall, in coordination with the President of Azerbaijan, resolve issues within the exclusive competence of the supreme governing body of state-owned companies and enterprises to be managed, as well as state-owned companies, in accordance with the Civil Code.
The powers of the founder of the ECHR are entrusted to:
The powers of the President of the Republic of Azerbaijan are as follows:
Approval of the Charter of the Organization and determination of the amount of the authorized fund, their change, establishment of governing bodies, appointment and dismissal, liquidation and reorganization of members of the Supervisory Board (including the Chairman), as well as the Chairman of the Management Board.
The jurisdiction of the ECHR is as follows:
Resolution of other issues referred to the powers of the founder of a public legal entity in Article 8.2 of the Law on Public Legal Entities, except for those specified in paragraph 4.1 of this Decree.
The Cabinet of Ministers has been instructed to prepare and submit to the President within three months proposals on improving the laws of the Republic of Azerbaijan in connection with the establishment of the ECHR.
The Cabinet of Ministers must prepare and submit to the President within two months proposals on state-owned enterprises to be managed by the ECHR.