of March 24, 2007 No. ZR-112
About modification and amendments in the Law of the Republic of Armenia "About bank secrecy"
Accepted by National Assembly of the Republic of Armenia on February 27, 2007
Article 1. In article 6 of the Law of the Republic of Armenia "About bank secrecy" (ZR-80, of October 7, 1996):
a) the second offer of part 3 to state in the following edition: "The large obligation provided by this Item 20 million dram of the Republic of Armenia equivalent to it or the obligation exceeding it are considered.";
b) add part 3 with the third offer of the following content: "For the purpose of application of this Part equivalence of the currency obligation to dramas of the Republic of Armenia is determined by the average rate published by the Central bank of the Republic of Armenia established in the foreign exchange markets as of the last working day of the quarter preceding publication.";
c) add with part 4 following of content:
"4. Publication by the Central bank of the Republic of Armenia or the bank which allowed violation, allowed from bank and (or) the head of bank of violations of requirements of the laws or other legal acts, and decisions of the Central bank of the Republic of Armenia about applied for them concerning bank and (or) the head of bank sanctions is not considered illegal publication of bank secrecy.".
Article 2. In article 10 of the Law:
a) "initiating" titles to replace the word with the word "performing";
b) state part 1 in the following edition:
"1. Banks provide the information which is bank secrecy about persons suspected on criminal case or persons accused, to the bodies performing criminal prosecution only based on the judgment according to this Law and the Code of penal procedure of the Republic of Armenia.";
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