of March 2, 2012 No. ZR-13
About modification of the Land code of the Republic of Armenia
Accepted by National Assembly of the Republic of Armenia on February 8, 2012
Article 1. In Item 2 of Article 65 of the Land code of the Republic of Armenia of May 2, 2001 (further – the Code) the words "The Government of the Republic of Armenia on behalf of the Republic of Armenia Can Put the Parcel of Land Which Is State-owned Property or the Rights to It, in the Authorized Capital of the Legal Entity" shall be replaced with words "The parcel of land which is state-owned property or the rights to it – according to the order of the Government, and the parcel of land which is property of community, or right to it – with the consent of the Government can invest in the authorized capital of the legal entity".
Article 2. To remove the last two offers from the subitem 5 of Item 1 of article 66 of the Code.
Article 3. To state article 67 of the Code in the following edition:
"Article 67. Sale on auction of the parcels of land which are the state-owned or communal property
1. Sale of the parcels of land which are the state-owned or communal property, except for provided by Articles 65 and 66 of this Code of cases are performed on auction.
2. The starting selling price on auction cannot be lower than 50 percent of cadastral cost of the earth, and the starting selling price on auction for border, mountain, mountain lands, lands in the remote settlements included in the list established by the Government of the Republic of Armenia cannot be lower than 30 percent of cadastral cost of the earth.
3. The starting selling price on auction of the parcels of land which are communal property is announced by the head of community, based on the decision of the Council of Elders of community.
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