of June 21, 2008 No. ZR-80
About anti-money laundering and terrorism financing
Accepted by National Assembly of the Republic of Armenia on May 26, 2008
1. The purpose of this Law is protection of public safety, economic and financial systems of the Republic of Armenia against risks of money laundering and financing of terrorism by establishment of legal mechanisms of counteraction to money laundering and financing of terrorism.
1. This Law governs the relations connected with anti-money laundering and financing of terrorism, determines circle of the competent authorities, organizations and persons included in the sphere of anti-money laundering and terrorism financing, procedure and conditions of cooperation of these bodies, and also questions of control and application of measures of responsibility in the field of anti-money laundering and terrorism financing. the astoyashchy Law governs also the relations concerning freezing of property of citizens in connection with distribution of weapons of mass destruction. This Law governs also the relations concerning freezing of property of citizens in connection with distribution of weapons of mass destruction.
1. Anti-money laundering and financing of terrorism is regulated by international treaties of the Republic of Armenia, the Constitution of the Republic of Armenia, this Law, other laws of the Republic of Armenia, and in the cases provided by this Law also other legal acts.
1. In sense of this Law:
1) property - the property established by part 10 of article 121 of the Criminal code of the Republic of Armenia;
2) money laundering – act, stipulated in Article 296 Criminal codes of the Republic of Armenia;
2. 1) prior crime is crime as a result of which making directly or indirectly was the property is hit or was formed;
3) terrorism financing - act, stipulated in Article 310 Criminal codes of the Republic of Armenia;
3. 1) financing distribution of weapons of mass destruction is provision or collection of property or provision of financial services for the purpose of act making, stipulated in Article 153 Criminal codes of the Republic of Armenia;
4) persons providing the report are:
b) credit institutions,
d) persons making remittances
e) persons providing investment services according to the Law of the Republic of Armenia "About the security market", except for managing directors of corporate investment funds regarding activities for management of investment funds
h) corporate investment funds, and also the non-public contractual investment funds which do not have the managing director licensed by the Central bank of the Republic of Armenia
j) persons performing realtor activities
l) lawyers, and also the individual entrepreneurs and legal entities rendering legal services
m) the accountants-individual entrepreneurs and legal entities performing accounting activities
o) auditing organizations and auditors,
o) dealers of precious metals,
p) dealers of gemstones,
c) art dealers,
r) organizers of auctions,
s) organizers of gaming houses, games with prize, including Internet games with prize, lotteries,
t) persons rendering services of trust management and registration of legal entities
x) credit bureaus to which this Law extends only in parts of obligation on provision of the report on the suspicious transaction or business relations established by part 5 of Article 9 obligations on accounting and the responsibility established by Items 2, of 4, 5 and 6 parts 4 Articles 30, established by Articles 6-8
v) authorized body on maintaining the Single state inventory of real estate to which this Law extends only in parts of obligation on submission of the reports established by Articles 6-8, the established part 5 of Article 9 obligations on accounting and the responsibility established by part 9 of Article 30,
w) State body of registration of legal entities (The state register) to which this Law extends only in parts of obligation on submission of the reports established by Articles 6-8 in the cases established by part 4 Articles 6, and also the obligations established by parts 1 and 5 of Article 9, and the responsibility established by part 9 of Article 30;
5) financial institutions – the persons providing the report identified by subitems "an" – "and" item 4 of this part;
6) non-financial organizations or persons – the persons providing the report identified by subitems "k" – "ф" item 4 of this part.
Articles 23 and 25 of this Law extend to non-financial organizations or persons only in the presence at them more than 10 employees;
7) authorized body – Central bank of the Republic of Armenia;
8) regulatory authority – the competent authority licensing (appointing, appropriating qualification or issuing permission to activities otherwise) person providing the report and the exercising control;
9) the transaction – the transaction between person providing the report and the client or the authorized person, and also the client or the authorized person and other person which is made through person providing the report or is learning object (consideration) of person providing the report. Also any action which attracts origin, change or the termination of the rights and obligations based on certain transaction or its result can be considered as the transaction;
9. 1) monetary compensation is transaction which is made by means of financial institution on behalf of person making transfer to make certain amount in this or another financial organization available to the receiver of transfer irrespective of whether person making transfer and the receiver of transfer by one person is;
10) the one-time transaction – the transaction as a result of which obligations on rendering periodic services do not arise and (or) which does not assume establishment of business relations;
11) the interconnected one-time transactions – the same transactions of one-time nature with participation of the same party which are made within 24 hours;
12) business relations – the periodic services rendered by person providing the report to the client which are not limited to one or several one-time transactions. Business relations do not include activities of person providing the report within which person providing the report performs for own needs other activities other than the activities established by the law for persons providing the report of this type;
13) the client – the person establishing business relations or being in such relations with person providing the report, and also face which suggests person providing the report to make or makes with it the one-time transaction;
14) the real beneficiary - physical person, from name or for benefit of which the client acts actually and (or) which actually (actually) controls the client or person, from name or for benefit of which the transaction is made or business relations are improved. The real beneficiary of the legal entity (except for trust silt of other legal forming which by the foreign legislation has no status of the legal entity) is considered the physical person which:
and. directly or indirectly owns 20 and more percent of shares (shares, shares) of this legal entity granting voting power or directly or indirectly has 20 and more percent of participation in the authorized capital of the legal entity;
. exercises real (actual) control of this legal entity other means;
is the official performing common or current directorship of activities of this legal entity century in that case when there is no physical person conforming to requirements of subitems "an" and "b" of this Item;
15) the authorized person – person having powers on transaction or implementation in business relations of certain legal or actual acts on behalf of the client and at the request of the client including person performing representation by proxy based on the powers conferred to it by the client or on other basis established by the law;
16) the legal entity – the organization or organization having according to the legislation of the Republic of Armenia and (or) the foreign legislation the status of the legal entity, and also trust or the legal education which does not have according to the foreign legislation of the status of the legal entity;
16. 1) trust is the organization having by the foreign legislation the status of the legal entity, or other legal forming which does not have the status of the legal entity where the managing director of trust based on fiducial obligations makes the transactions connected with the founder of trust transferred to them on the property rights property for benefit of the beneficiary of trust;
17) the business characteristic of the client – set of data (representations) of person providing the report which concern nature, impacts and values of activities of the client who is available and expected dynamics of business relations and one-time transactions, amounts and spheres, availability of authorized persons and actual beneficiaries, identification and nature of affiliation, and also belonging to activities of the client of other facts and circumstances;
18) other party of the transaction – other participant of the transaction performed by the client who provides (gives) or to which the property following from the transaction is addressed;
19) proper customer research – process of obtaining and the analysis by person of data providing the report (including documents) about the client, its identification and the business characteristic for the purpose of creation about it proper representation using the approach based on risks which includes:
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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