LAW OF THE REPUBLIC OF ARMENIA

of December 21, 2004 No. ZR-135

About currency control and currency exchange control

Accepted by National Assembly of the Republic of Armenia on November 24, 2004

Chapter 1. General provisions

Article 1. Subject of regulation of the Law

This Law establishes procedure and conditions of the conclusion of currency transactions, cases, procedure and conditions of the order, ownership and use of currency values in the Republic of Armenia, and also governs other relations connected with currency control and control in the Republic of Armenia.

Article 2. Legal regulation of currency transactions and activities of persons performing currency transactions

Currency transactions, activities of persons performing currency transactions, and also other relations connected with currency control and control in the Republic of Armenia are regulated by this Law, the Civil code of the Republic of Armenia, the Law of the Republic of Armenia "About the Central bank of the Republic of Armenia", other laws of the Republic of Armenia, international treaties of the Republic of Armenia, and in the cases provided by the law - other legal acts.

Article 3. The basic concepts used in the Law

In sense of this Law and in sense of other legal acts adopted based on this Law:

1) the property types which are considered as currency values are:

a) currency of the Republic of Armenia - dramas of the Republic of Armenia,

b) the payment securities expressed in currency of the Republic of Armenia

c) foreign currency,

d) the payment securities expressed in foreign currency

e) bank gold,

e) the rights and obligations following from the currency values specified in this part having monetary value;

2) currency of the Republic of Armenia are:

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