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LAW OF THE REPUBLIC OF ARMENIA

of June 27, 2017 No. ZR-95

About the privatization program of state-owned property for 2017-2020

Accepted by National Assembly of the Republic of Armenia on June 9, 2017

(as amended of the Law of the Republic of Armenia of 03.07.2019 No. ZR-84)
Article 1. The purposes of privatization of state-owned property of the Republic of Armenia for 2017-2020

1. The privatization program of state-owned property of the Republic of Armenia (further - state-owned property) for 2017-2020 (further - the program) is developed according to the Law of the Republic of Armenia "About privatization of state-owned property" and is directed to the solution of the tasks established by the main directions of social and economic development and the tax and budget policy.

2. Main objectives of state policy in the sphere of privatization of state-owned property for 2017-2020 are:

1) stimulation of competitiveness and efficiency of national economy;

2) increase in efficiency of activities of the companies by privatization of the state share and improvement of competitive environment;

3) the choice of the buyer or investor performing effective economic activity thanks to use of tools and the forms of privatization (tender, direct sale and other) which are widely applied in the international practice during privatization of the company (object), privatizeable;

4) increase in specific weight of private equity in forming of GDP of the country and providing continuity of policy of privatization;

5) increase in the income state and local authority budgets at the expense of the means received from privatization of state-owned property.

Article 2. The basic concepts used in the Law

1. In this Law the following basic concepts are used

previous privatization programs - The resolution of the Supreme Council of the Republic of Armenia "About the privatization program and denationalization of the state companies and objects of construction in progress of the Republic of Armenia for 1994", the Resolution of National assembly of the Republic of Armenia of September 27, 1995 "About the privatization program and denationalization of the state companies and objects of construction in progress of the Republic of Armenia for 1995", the Laws of the Republic of Armenia "About the privatization program and denationalization of the state companies and objects of construction in progress of the Republic of Armenia for 1996-1997", "About the privatization program of state-owned property of the Republic of Armenia for 1998-2000", "About the privatization program of state-owned property for 2001-2003" and "About the privatization program of state-owned property for 2006-2007".

2. In this Law also the concepts established by the Law of the Republic of Armenia "About privatization of state-owned property" are used.

Article 3. The principles of the choice of the privatized state-owned property

1. The principles of the choice of the privatized state-owned property included in the program are:

1) poor control of the companies with the state participation;

2) noncompetitiveness of the companies with the state participation;

3) the decrease in level of importance of the obligations assigned to the companies with the state participation, caused by activities of enough the non-state companies from the point of view of ensuring full-fledged management of needs of society in the respective sphere;

4) privatization of the companies with the shares (share) belonging to the state by the property right which are not necessary for implementation of the state functions.

Article 4. Industries and spheres of economy in which privatization is not provided

1. According to this program, privatization do not belong:

1) objects of civil defense and mobilization appointment, military structures;

2) the companies with the shares belonging to the state by the property right in the sphere of mapping, geodesy, hydrometeorologies, and also the performing environmental protections and conditions of natural resources;

3) objects of warehouse economy of the state reserves and mobilization inventories;

4) the companies with the shares belonging to the state by the property right the rendering services in standardization and metrology;

5) the railroads and highways of interstate and republican value, the Yerevan subway, services ensuring traffic safety of trains and air flights, transport columns of army type;

6) state non-profit organizations.

2. The territories occupied by objects, privatizeable are not privatized, and they are allocated from structure of the privatized property if these objects are placed:

1) in technical constructions, ways of communication (bridges, tunnels, barriers, underground passages and other) and in the adjacent territories which are considered as their part in the technical plan at railway stations, in objects of the social and cultural sphere (in educational institutions, cultural objects);

2) in subjects to defense and safety and in the territories adjoining to them.

3. In the cases provided by part 2 of this Article when privatization of this territory is not allowed it can be used on the rent bases according to the procedure, established by the legislation of the Republic of Armenia.

Article 5. The companies with the shares belonging to the state by the property right, objects of construction in progress and "small" objects which privatization is performed according to the program

1. Part of this program is Appendix 1 - the list "The companies with having the state share, offered to privatization in 2017-2020, subjects to privatization (including included in the previous privatization programs)".

2. The companies with the shares belonging to the state by the property right, the "small" objects and objects of construction in progress included in lists of the previous privatization programs, however not privatized are considered as part of this program and privatizations in the forms established by the Law of the Republic of Armenia "About privatization of state-owned property" are subject.

3. Part of this program are subjects of transactions on privatization - subjects to privatization, - recognized invalid judicially. The amounts which are subject to return to buyers to result of recognition by court of transactions on privatization of the objects included in the program, invalid are compensated according to the procedure, established by the legislation of the Republic of Armenia, at the expense of the means received from privatization, and in case of their insufficiency - at the expense of means of the government budget.

4. Part of this program are the companies created by the orders of the Government of the Republic of Armenia (further - the Government) as a result of works on preparation for privatization, and elements of the allocated property.

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