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LAW OF THE REPUBLIC OF ARMENIA

of July 28, 2025 No. ZR-270

About introduction of amendments to the Law "About Currency Control and Currency Exchange Control"

Accepted by National Assembly of the Republic of Armenia on July 3, 2025

Article 1. In article 7.1 of the Law of November 24, 2004 No. ZR-135 "About currency control and currency exchange control" (further - the Law):

To add 1) with part 6 of the following content:

"6. The organization performing purchase and sale of foreign currency (exchange points) or the organization which addressed for receipt of the license for it shall not have the participant, the real beneficiary or the head having the right to vote in the amount of 10 and more percent which or affiliates in the past made action which, according to council of the Central bank, confirmed with legal acts of council of the Central bank, gives the grounds to suspect that actions of the member or the head having the right to vote in case of decision making by governing body of the organization performing purchase and sale of foreign currency (exchange points) concerning these persons can result in bankruptcy or deterioration in financial position of this organization or discredit of reputation and goodwill. At the same time the interrelation of person is considered according to article 8 of the Law "About Banks and Banking Activity".

To add 2) with part 7 of the following content:

"7. The participant or the head of the organization which is performing purchase and sale (exchange points) of foreign currency, having the right to vote in the amount of 10 or more percent shall not join in lists of faces tied with terrorism or distribution of weapons of mass destruction, the United Nations published by resolutions of the Security Council or according to them.";

To add 3) with part 8 of the following content:

"8. In sense of this Law persons which are considered as real beneficiaries in sense of the law "About Anti-money Laundering and Terrorism Financing" are considered as real beneficiaries.".

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