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LAW OF THE REPUBLIC OF ARMENIA

of December 29, 2017 No. ZR-308

About modification of the Law of the Republic of Armenia "About joint-stock companies"

Accepted by National Assembly of the Republic of Armenia on December 14, 2017

Article 1. "About joint-stock companies" (further – the Law) to state part 5 of article 2 of the Law of the Republic of Armenia of September 25, 2001 to ZR-232 in the following edition:

"5. The company has the right in the procedure established by the law to open accounts in banks of the Republic of Armenia and foreign states, and the Company having more than 50 percent the state or municipal or state and municipal share (in total) and also the Company founded by the Company having more than 50 percent the state or municipal or state and municipal share (in total) can open accounts and in treasury of state body in the field of the management of public finances authorized by the Government of the Republic of Armenia (further – treasury).".

Article 2. To state the Item "e" of part 3 of article 88 of the Law in the following edition:

"e) in banks opens settlement (including in foreign currency) and other accounts of the Company (at the same time in case with the Company having more than 50 percent the state or municipal or state and municipal share (in total) or in case founder of the Company is the Company having more than 50 percent the state or municipal or state and municipal share (in total) of the account can be opened also in treasury);".

Article 3. This Law becomes effective for the tenth day after its official publication.

President of the Republic of Armenia

S. Sargsyan

 

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