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Ministry of Justice

Republic of Armenia

On July 13, 2007 No. 05007271

RESOLUTION OF COUNCIL OF CENTRAL BANK OF THE REPUBLIC OF ARMENIA

of July 13, 2007 No. 138-N

About approval of Regulations 10 "Licensing and regulation of transactions on purchase and sale of foreign currency"

Accepted Council of the Central bank on May 15, 2007

(as amended on 25-10-2016)

Assuming as a basis the subitem "d" of Article 20, Item 1 of article 49 of the Law of the Republic of Armenia "About the Central bank of the Republic of Armenia", being guided by article 16 of the Law of the Republic of Armenia "About legal acts", Council of the Central bank of the Republic of Armenia decides:

1. Approve Regulations 10 "Licensing and regulation of transactions on purchase and sale of foreign currency" according to Appendix (is applied).

2. Declare invalid the Resolution of Council of the Central bank of the Republic of Armenia of June 6, 2006 number 238-N "About approval of Regulations 10 "Licensing and regulation of transactions on purchase and sale of foreign currency" in the new edition".

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

Chairman of the Central bank of the Republic of Armenia T. Sargsyan

Appendix

Approved by the Resolution of Council of the Central bank of the Republic of Armenia of May 15, 2007 number 138-N

Regulations 10 Licensing and regulation of transactions on purchase and sale of foreign currency

Section 1. General provisions and basic concepts

Chapter 1. General provisions

1. These Regulations establish:

1) procedures of licensing and regulation of exchange points, their branches;

2) the criteria of professional qualification shown to employees of exchange points and procedure for their consideration;

3) procedure of transactions on purchase and sale of foreign currency.

2. In sense of these Regulations the exchange point is legal entity, and also the individual entrepreneur who obtained the license till February 3, 2007 which based on the license granted by the Central bank of the Republic of Armenia can perform cash transactions on purchase and sale of foreign currency only with physical persons in dramas of the Republic of Armenia.

Chapter 2. The concepts used in these Regulations

3. In these Regulations the following concepts are used:

1) "passport data" - series of the passport and passport number, and in the absence of the passport - data of other identity document;

2) "registration plate of public services" - registration plate of public services (number of social security) provided to person by the Republic of Armenia or number of the certificate of non receipt of registration plate of public services;

3) "foreign currency of the first group" - US dollar, euro, the Japanese yen, the English pound sterling, Swiss franc, Canadian dollar, Swedish krona, Danish krone, Australian dollar;

4) "the armed security service" - Police under the Government of the Republic of Armenia or "security service" in sense of the Law of the Republic of Armenia "About private security activities of the Republic of Armenia";

5) Central bank - Central bank of the Republic of Armenia;

6) "branch" - the allocated division located out of functional cash desk of exchange point of the individual entrepreneur or the legal entity performing functions of exchange point;

7) "shop" - type of the shopping facility, established by the Law of the Republic of Armenia "About trade and services";

8) "shopping center" - the type of the place of implementation of trade established by the Law of the Republic of Armenia "About trade and services";

9) "the qualifying organization" - the organization chosen by the Central bank, performing check of professional qualification of the employee of exchange point.

Section 2. Procedure for licensing of transactions on purchase and sale of foreign currency and the termination of activities

Chapter 3. Licensing of transactions on purchase and sale of foreign currency

4. For receipt of the license for purchase and sale of foreign currency the licensed person submits the following documents to the Central bank:

1) the statement for receipt of the license according to Appendix 1 to these Regulations;

2) the reference from bank (banks) on availability on accounts poste restante or the urgent accounts at least one million dram of the Republic of Armenia;

3) copy of the certificate on state registration of the property right, free use, lease (sublease) of the room or trust management of it;

4) the plan of the territory approved by the competent authority or body having the corresponding license on which finding of cash desk of exchange point and the minimum territory meeting requirements of Items 56 and 57 of these Regulations shall be noted the place;

5) in case of absence cash depository - copies of the agreements signed with the collector organization or the armed security service, and for the exchange points operating in the hotels satisfying to Item 74 of these Regulations - the agreements on insurance specified in Item 74 of these Regulations and reasons for safety by internal protection of hotel;

6) receipt on payment of the state fee;

7) reasons (the corresponding license, thawed KKM, data on total amount of the cash calculations perfromed by cash register for sense of the Order of the Government of the Republic of Armenia of April 14, 2011 No. 511-N and other) the fact that the applicant is the legal entity performing purchase and sale in this shop or the organizer of implementation of trade in this shopping center or the legal entity rendering hotel services in this hotel;

8) one of following documents:

8. 1) the agreement signed with Police under the Government of the Republic of Armenia and the document on serviceability of the alarm system and pedal of direct link of the alarm system approved by the relevant division of Police under the Government of the Republic of Armenia or

8. 2) the agreement on safety of exchange point signed with the armed security service which meets the requirements established by the subitem 1 of Item 76 of these Regulations;

8. 3) the agreement on insurance which satisfies to the provisions established by the subitem 2 of Item 76 of these Regulations, and in the presence of the bases specified in Item 77 of these Regulations - the agreement or the written announcement required by Item 77 of these Regulations;

9) copy of the certificate on professional qualification of the employee (employees).

5. Exchange points for opening of branch submit the following documents to the Central bank:

1) the statement for receipt of the license of branch according to Appendix 2 to these Regulations;

2) the reference from bank (banks) on availability on accounts poste restante or the urgent accounts at least one million dram of the Republic of Armenia for exchange point and each branch;

3) copy of the certificate on state registration of the property right, free use, lease (sublease) of the room or trust management of it;

4) the plan of the territory approved by the competent authority or body having the corresponding license on which finding of cash desk of exchange point and the minimum territory meeting requirements of Items 56 and 57 of these Regulations shall be noted the place;

5) in case of absence of cash depository - the copy of the agreement signed with the collector organization or the armed security service, and for the exchange points operating in the hotels satisfying to Item 74 of these Regulations - the agreements on insurance specified in Item 74 of these Regulations and reasons for safety by internal protection of hotel;

6) receipt on payment of the state fee;

7) reasons (the corresponding license, thawed KKM, data on total amount of the cash calculations perfromed by cash register for sense of the Order of the Government of the Republic of Armenia of April 14, 2011 No. 511-N and other) the fact that the applicant is the legal entity performing purchase and sale in this shop or the organizer of implementation of trade in this shopping center or the legal entity rendering hotel services in this hotel;

8) one of following documents:

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