LAW OF THE REPUBLIC OF ARMENIA

of July 14, 1998 No. ZR-229

About enforcement of the Civil Code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on June 17, 1998

Article 1. Enact the Civil code of the Republic of Armenia (further - the Code) since January 1st, 1999.

Article 2. Recognize voided since January 1st, 1999:

1) the Civil code of the Armenian Soviet Socialist Republic approved by the Law of the Armenian Soviet Socialist Republic of June 4th, 1964 "About approval of the Civil code of the Armenian Soviet Socialist Republic" ("Sheets of the Supreme Council of the Armenian Soviet Socialist Republic", 1964, No. 17, Article 84), with subsequent changes and amendments;

2) the Decree of Presidium of the Supreme Council of the Armenian Soviet Socialist Republic of November 26th, 1964 "About procedure for enforcement Civil and Civil procedural codes of the Armenian Soviet Socialist Republic" ("Sheets of the Supreme Council of the Armenian Soviet Socialist Republic", 1964, No. 34, Article 182);

Article 3. Till July 1st, 2000 to bring into accord with the Code the laws and other legal acts containing regulations of the civil law.

Before reduction of the laws and other legal acts containing regulations of the civil law in compliance with the Code, they are applied so far as do not contradict the Code.

The regulations of the President of the Republic of Armenia, the Government, ministries and other state bodies published before introduction of the Code in action governing the relations which, according to the Code, shall be regulated only by the law are effective before introduction of the relevant laws in action.

Article 4. The code is applied to the civil legal relationship which arose after introduction of the Code in action, except as specified, provided by this Law.

To the contractual and other civil legal relationship which arose till January 1st, 1999, the Code is applied regarding those rights and obligations which will arise after introduction of the Code in action.

Article 5. Agreement obligations, put before introduction of the Code in action, remain if the parties voluntarily do not bring condition of these contracts into accord with requirements of the Code.

Article 6. From the date of introduction of the Code in action legal entities can be created only in the forms of business provided by Chapter 5th of the Code.

Organization-legal types of the companies created to the introduction of the Code in force, not provided by Chapter 5th of the Code till January 1st, 2001 are subject to reorganization and registration. In case of non-realization in the specified time of reorganization and they are subject to registration to liquidation.

The legal entities created to the introduction of the Code in force and having the form of business provided by Chapter 5th of the Code shall bring till January 1st, 2001 the constituent documents into accord with requirements of regulations of Chapter 5th of the Code and re-register them. The constituent documents which are not brought into accord and not re-registered at the scheduled time are recognized invalid.

Article 7. The legal entities specified in article 6 of this Law in case of re-registration for the purpose of reduction of the legal status in compliance with regulations of the Code are exempted from payments for it.

Article 8. The operating order of registration of legal entities remains before enforcement of the law on state registration of legal entities.

Article 9. The operating order of registration of property remains before enforcement of the law on state registration of the rights to property.

Article 10. Norma Kodeksa about the bases and consequences of invalidity of transactions are applied to transactions, requirements about recognition of which invalidity will be considered by court, including arbitral tribunal, after January 1st, 1999, irrespective of time of the conclusion of the corresponding transactions.

Article 11. The terms of limitation period established by the Code are applied to claims which the presentation terms provided by the legislation existing earlier did not expire till January 1st, 1999.

To the claim, stipulated in Article 317 Codes, about recognition of the debatable transaction invalid and application of consequences of its invalidity, the right to which presentation arose till January 1st, 1999, the term of limitation period established for the corresponding claim by earlier current legislation is applied.

Article 12. Operation of article 187 of the Code (acquisitive prescription) extends as well to cases when ownership of property began till January 1st, 1999 and continues at the time of introduction of the Code in force.

Article 13. The procedure for the conclusion and form of separate agreement types established by the Code are applied to agreements which proposal to the conclusion is made after January 1st, 1999.

Norma Kodeksa, establishing content of separate agreement types, are applied to the agreements signed after Kodeksa's introduction in action.

Article 14. Code regulations, obligatory for agreement parties, about the bases, consequences and procedure for termination of separate agreement types are applied as well to the agreements continuing to be effective after introduction of the Code in action irrespective of date of their conclusion.

Code regulations, obligatory for agreement parties, about responsibility for violation of contractual relations are applied if the corresponding violations are allowed after introduction of the Code in action, except as specified, when for similar violations responsibility was provided in the agreements signed till January 1st, 1999.

Article 15. Action of Items of 2nd and 3rd of article 903 of the Code extends as well to cases when sums of money are attracted in deposits before introduction of the Code to action, and the arisen with respect thereto relations remained after introduction of the Code in action.

Article 16. Operation of articles 1063 and 1064 of the Code extends as well to cases when harm is done till January 1st, 1999, but not earlier than January 1st, 1996.

Article 17. Operation of articles 1078-1087 of the Code extends as well to cases when harm of life or to health of the citizen is caused till January 1st, 1999, but not earlier than January 1st, 1996.

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