of June 21, 2008 No. ZR-96
About securitization of assets and asset-backed securities
Accepted by National Assembly of the Republic of Armenia on May 26, 2008
This Law governs the relations connected with process of securitization of assets and release, turnover and repayment of the securities provided with assets.
1. The relations on securitization of assets are governed by the Laws of the Republic of Armenia "About the security market", "About investment fund", the Civil code of the Republic of Armenia, other laws and other legal acts adopted on their basis if other adjustment is not provided by this Law.
2. This Law does not limit the right of person to issue securities, provided with pledge of assets or otherwise, according to requirements and according to the procedure, established by the legislation of the Republic of Armenia.
3. The relations connected with legal status, creation, regulation of activities of funds of securitization, the activities termination, bankruptcy, liquidation of funds of securitization, activities of managing funds of securitization, and also control of securitization process are regulated by the Laws of the Republic of Armenia "About investment fund", "About the security market", and in the cases and limits provided by them - regulatory legal acts of the Central bank.
1. The basic concepts used in this Law:
assets - money from established by the Law of the Republic of Armenia "About financial accounting" and (or) requirements of the right to them, and (or) other financial assets which provide or can provide certain inflows (including security, debit debt) money from assets;
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