LAW OF THE REPUBLIC OF ARMENIA

of June 13, 2019 No. ZR-55

About modification and amendments in the Code of the Republic of Armenia about administrative offenses

Accepted by National Assembly of the Republic of Armenia on June 3, 2019

Article 1. In article 169.14 of the Code of the Republic of Armenia about administrative offenses of December 6, 1985:

Heading to state 1) in the following edition:

"Article 169.14. The use of the words which are not permitted without the corresponding registration (license) or prohibited by the law and certain words persons which do not have the license in the name, advertizing, the public offer or assistance to advertizing by any method";

To add 2) with part 2 following of content:

"2. The use by persons who do not have the license for implementation of the related activity from the Central bank, the words "credit", "crediting" or words "loan", "money", "provision of loan", "provision of money", "amount", "provision of the amount", "finance", "financing", "provision of finance" or their case forms or derivatives for the purpose of the characteristic of these activities or implementation of these activities in the name, advertizing, the public offer, and also in the advertizing represented with use of media, social networks, any other means of electronic communication, assistance performing advertizing or to advertizing:

attracts infliction of penalty in two-thousandfold size of the established minimum wage.

Repeated making of the act provided by this part within four years from the date of entry into force of the decision on infliction of penalty:

attracts infliction of penalty in four-thousandfold size of the established minimum wage.

Article 2. This Law becomes effective for the tenth day after its official publication.

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