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LAW OF THE REPUBLIC OF ARMENIA

of March 29, 2001 No. ZR-155

About recalculation of the amounts of the penalty fee and penalties added for failure to pay in the payment due date of compulsory social insurance established by the law

Accepted by National Assembly of the Republic of Armenia on March 5, 2001

Article 1. For failure to pay in the payment procedure of compulsory social insurance established by the legislation recalculation of the amounts of the penalty fee added till January 1, 1999 and penalties is made according to the procedure and at the rates, the stipulated in Clause 6 Laws of the Republic of Armenia "About payments of compulsory social insurance", having exempted insurers from obligations on payment of the difference which arose owing to recalculation.

Article 2. The recovery suits of penalty fee and penalties for failure to pay which are in courts in the payment procedure of compulsory social insurance established by the legislation or about insolvency, and also the writs of execution provided to service on ensuring forced execution of court resolutions of the Ministry of Justice of the Republic of Armenia are satisfied in the amount of the claim counted by the creditor (authorized body) according to requirements of article 1 of this Law.

Article 3. This Law becomes effective from the moment of its official publication.

President of the Republic of Armenia

R. Kocharyan

 

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