Answer ... Merger control is regulated by Law 526 of the Republic of Azerbaijan on Anti-monopoly Activity, dated 4 March 1993.
Answer ... Under Law 590-IQ of the Republic of Azerbaijan on Natural Monopolies, dated 15 December 1998, the anti-monopoly authority exercises control, among other things, over:
- any transactions as a result of which a natural monopoly entity acquires the right of ownership to fixed assets or the right to use fixed assets that are not intended for production (sale) of goods and are subject to regulation in accordance with the Natural Monopolies Law, if the book value of such fixed assets exceeds 10% of the value of the equity capital of the natural monopoly entity according to the latest approved balance sheet; and
- any sale, lease or any other transaction as a result of which a business entity acquires the right of ownership to, or the right to use a part of, the natural monopoly entity’s fixed assets that are intended for the production (sale) of goods and are subject to regulation in accordance with the Natural Monopolies Law, if the book value of such fixed assets exceeds 10% of the value of the equity capital of the natural monopoly entity according to the latest approved balance sheet.
Answer ... The State Service for Anti-monopoly Policy and Protection of Consumer Rights under the Ministry of Economy of the Republic of Azerbaijan is responsible for enforcing the merger control regime.
The service’s powers are described in the bylaws and include:
- issuing approvals in the manner and circumstances prescribed by law;
- taking measures against actions of business entities that restrict competition in the relevant market as a result of the conclusion of agreements among themselves; and
- imposing financial sanctions on business entities that breach the Anti-monopoly Law.
Under the Presidential Order on Improving Governance in Areas of Consumer Market Supervision, Standardisation, Metrology and Protection of Intellectual Property Objects dated 20 April 2018, the State Anti-monopoly and Control of Consumer Market Agency was established. The agency’s structure and powers have not yet been established, and it is thus not yet known which duties of the service will pass to the agency.