LAW OF THE REPUBLIC OF ARMENIA

of January 13, 1998 No. ZR-188

About privatization of state-owned property

Accepted by National Assembly of the Republic of Armenia on December 17, 1997

Chapter 1. General provisions

Article 1. Law coverage

This Law governs the relations of privatization of state-owned property, including objects of construction in progress. Operation of this Law does not extend to the relations following from alienation of state-owned property to other states and the international organizations, connected with implementation of their representative transactions in the Republic of Armenia and also to the relations connected with alienation of the state housing stock.

The relations in privatization of municipal property, including objects of construction in progress are not regulated by this Law, except for the case provided by the subitem "g" of part two of article 3 of this Law.

Privatization of the earth is performed according to the procedure, established by the Land code of the Republic of Armenia.

Article 2. The concepts used in the Law

The concepts used in this Law have the following values:

State-owned property - the property belonging to the state on the property right including the stocks of societies owned by the state, and also separate elements of property.

Object of construction in progress:

a) the object having the project approved in accordance with the established procedure and the taken-away parcel of land on which installation and construction works are not begun;

b) object on which installation and construction works were carried out or carried out and which is in accordance with the established procedure not enacted or is not preserved;

c) the object preserved in accordance with the established procedure.

Non-state society - society which more than 50 percent of shares is property of citizens or legal entities.

Society with the state participation - society which 50 or more percent of shares are the state-owned or municipal property.

"Small" object - the legal entities or their allocated divisions specialized in spheres of public catering, consumer services of the population and trade.

Privatization of "small" objects which occupied total area at the time of assessment does not exceed 200 square meters is considered "small" privatization. "Small" privatization is performed by direct sale of "small" objects to members of their labor collectives according to the procedure, established by this Law.

At the time of acceptance in the procedure for the decision on privatization of state-owned property by members of labor collective of society (company) or "small" object established by this Law are considered:

a) employees of this society (company) or "small" object;

b) persons having at least one year of working life in this society (company) or "small" object within the last three years;

c) the persons who retired from this society (company) or "small" object within the last ten years and having there at least two years of continuous working life;

d) persons with disability having at least one year of continuous working life in this society (company) or "small" object within the last ten years;

e) persons having at least eight years of general working life in this society (company) or "small" object;

e) the dismissed staff of the higher bodies reorganized or liquidated owing to privatization of societies (companies) or "small" objects at least one years of continuous working life or at least two years of working life having in this body within the last three years;

g) ceased to be valid

h) persons receiving pension on the occasion of loss of the supporter who worked in this society (company) or "small" object;

i) the persons called from this society (company) or "small" object and which are passing military service according to the Law of the Republic of Armenia "About conscription", having at least one year of working life in society (company) or "small" object and also the elected to elected state bodies, local government bodies.

Citizens at discretion can acquire the status of the member of labor collective only in one society (company) or "small" object. As foreign persons are considered:

a) citizens of other states and stateless persons;

b) legal entities of other states;

c) international organizations;

d) societies (company), completely or mainly (more than half of property), belonging to physical persons and legal entities of other states, the international organizations, other states.

Article 3. Concept and subjects to privatization

1. Privatization - transfer of property or other property rights concerning state-owned property to subjects of privatization.

The resolution on privatization of state-owned property is accepted by the Government of the Republic of Armenia in the procedure established by this Law.

Privatization of the personal estate assigned to public institutions is performed according to the procedure, established by the Government of the Republic of Armenia.

2. Subjects to privatization are:

a) the shares of the state joint-stock companies owned by the state stocks in non-state societies and societies with the state participation;

b) the property which passed to the state after liquidation of society with the state participation;

c) the state-owned property transferred on right to use including real estate;

d) the non-residential areas which are considered as state-owned property in apartment houses not considered as the areas of general use;

e) objects of construction in progress;

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