LAW OF THE REPUBLIC OF ARMENIA

of October 29, 2020 No. ZR-471

About modification and amendments in the Law "About Consumer Crediting"

Accepted by National Assembly of the Republic of Armenia on October 27, 2020

Article 1. Regarding 3rd article 4 of the Law of June 17, 2008 "About consumer crediting" (further - the Law) the words "The Agreement of Crediting, at Least, Includes:" shall be replaced with words No. ZR-122 "Crediting shall provide that the agreement of crediting, at least, included:".

Article 2. In article 17 of the Law:

Part 3 to state 1) in the following edition:

"3. The consumer based on the written application including submitted electronic method can refuse right to be informed, this Article established by parts 1 and 2, means of electronic communication, on condition of receipt of information, obligatory to representation, post or other means of communication. At the same time the consumer has the right to change unilaterally the written application communication method not more often than once a year, and this change is applied to the communication performed in 30 days after obtaining crediting the written application. The consumer also has the right to obtain information provided by parts 1 and 2 of this Article personally in the territory of crediting, in that case crediting shall provide to the consumer the same information post, electronic or other means of communication. The condition or consent limiting the consumer's right to receipt of this Article established by parts 1 and 3 electronic post or other means of communication is also personally invalid.";

To add 2) with part 3.1 following of content:

"3.1. In case of violation of the procedure for communication established by this Article during emergency or warlike situation in the Republic of Armenia crediting is exempted from liability provided by this Law if the impossibility of providing such procedure is connected with the announcement of emergency or warlike situation.".

Article 3. In article 20 of the Law:

Part 2 to state 1) in the following edition:

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