LAW OF THE REPUBLIC OF ARMENIA

of April 27, 2021 No. ZR-173

About modification of the Land code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on April 19, 2021

Article 1. In Article 68 of the Land code of the Republic of Armenia of May 2, 2001 (further - the Code):

Part 2 to state 1) in the following edition:

"2. The organizer a month before holding the auction in the press, other mass media and on the official site of public notifications of the Republic of Armenia of www.azdarar.am, the official site of regional administration, and also, in the presence, on the official site of community publishes the place, date, tendering time, the location, the sizes of the parcel of land, code, the starting price, advance payment, the step size, use purpose, data on availability of roads, water supply system, the sewerage, power lines, the gas pipeline (for the agricultural parcels of land - also quality characteristics), and also availability of restrictions on this parcel of land (including servitudes).";

 Number "5" to replace 2) in the first offer of part 5 with number "50".

Article 2. To state the text of article 70 of the Code in the following edition:

"1. Person who won auction shall pay completely within 10 days the price created as a result of the biddings. If the price is not paid to the specified time, or person who won the biddings refuses signing of the protocol on results of the biddings, as well as the conclusion of the purchase and sale agreement, then it is considered that the won person refused acquisition of the parcel of land.

2. Within two days after complete payment by the winner of full amount between the parties the agreement on alienation which is certified of notarial procedure is signed and is subject to state registration.".

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

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