Unofficial transfer (c) Soyuzpravoinform LLC
of April 12, 2023 No. ZR-122
About introduction of amendments to the Law "About Currency Control and Currency Exchange Control"
Accepted by National Assembly of the Republic of Armenia on March 22, 2023
Article 1. In article 7 of the Law of November 24, 2004 No. ZR-135 "About currency exchange control and currency control":
1) the first offer of part 2 to state in the following edition:
"2. Transactions on purchase or sale of foreign currency in the territory of the Republic of Armenia, including transactions on the conditions established by part of 1 this Article are performed by means of specialized persons, and also by means of investment companies which can perform purchase and sale of foreign currency in the cases and procedure established by the Law of the Republic of Armenia "About the security market" and (or) the sublegislative regulatory legal acts adopted on its basis.";
2) the first offer of part 5.1 to state in the following edition:
"5.1. Loans in the territory of the Republic of Armenia can be issued also in foreign currency, except for consumer loans and in the cases provided by the law – housing mortgage credits which are issued only in dramas of the Republic of Armenia.";
Part 8.1 to state 3) in the following edition:
"8.1. Banks and credit institutions issue consumer loans and the credits, housing mortgage loans only in dramas of the Republic of Armenia. To the physical persons which are not considered by residents (except for case of availability of the socreditopoluchatel who is resident of the Republic of Armenia), housing mortgage loans can be issued also in foreign currency.
The credits of agricultural value issued in the amount up to 5 000 000 dram (including 5 000 000 dram of the Republic of Armenia), and issued to the midget commercial organizations and individual entrepreneurs, in the amount up to 5 000 000 dram (including 5 000 000 dram of the Republic of Armenia), can be issued by the established Law "About the State Assistance to Small and Medium Entrepreneurship" both in dramas of the Republic of Armenia, and in foreign currency.".
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