Measures related to issuers' failure to submit annual reports

03-10-2025

3 October 2025, Baku: In accordance with Article 75 of the Law “On Securities Market," except as otherwise provided by law, the annual report of a joint-stock company shall be prepared for the results of each completed calendar year and approved by the general meeting of its shareholders. These reports must be submitted to the Central Bank of the Republic of Azerbaijan (CBA) within 10 days of the approval date. Unless the CBA instructs otherwise, the joint-stock company must disclose its annual report on its website (if available) and in the media within 30 days of submission.

According to legislative requirements, issuers' annual reports must include a management report, financial statements, and an external auditor's opinion on their verification (except for micro and small businesses).

If joint-stock companies cease their entrepreneurial activities for the current year, they are recommended to inform the CBA by submitting the joint-stock company's general meeting decision and the certificate submitted to the State Tax Service in accordance with Article 16.3 of the Tax Code of the Republic of Azerbaijan.

Issuers are informed that the CBA sends warning letters to joint-stock companies that do not submit their annual reports within the prescribed timeframe. If these reports are not submitted and disclosed to the CBA, the issuers are held administratively liable for this inaction (violation of the law), in accordance with the procedure established by the Administrative Offenses Code of the Republic of Azerbaijan. Therefore, joint-stock companies must comply with the relevant legislation.

The CBA's 966 hotline is available for the resolution of any additional questions regarding the topic.