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LAW OF THE REPUBLIC OF ARMENIA

of January 21, 2009 No. ZR-40

About modification and amendments in the Law of the Republic of Armenia "About joint-stock companies"

Accepted by National Assembly of the Republic of Armenia on December 26, 2008

Article 1. In Item 6 of article 2 of the Law of the Republic of Armenia "About joint-stock companies" of September 25, 2001 the words "shall have" shall be replaced with words ZR-232 (further - the Law) "can have".

Article 2. To state the paragraph of 1 Item 3 of article 30 of the Law in the following edition:

"3. The minimum size of the authorized capital of Society is not established. In some cases, depending on field of activity of Society, the minimum sizes of the authorized capital can be established by the law and other legal acts.".

Article 3. To add article 12 of the Law with Item 8 of the following content:

"8. Social gathering, created as a result of reorganization (merges, separations, allocations, transformations) is competent if on it shareholders, the having more than 50 percent of votes of the owners distributed as a result of share placing participate.

The decisions established by subitems "b" and "z" of Item 3 of this Article can be not accepted at the constituent assembly of the Society created as a result of reorganization (merge, separation, allocation, transformation).

Decisions on the questions established by subitems "a", "v" and "g" are accepted 3/4 voices of participants of the constituent assembly.".

Article 4. In Items 3 of Articles 19, shall be replaced with words 21 and 22 Laws of the word "in Item 3 of Article 12" "in Article 12".

Article 5. This Law becomes effective for the tenth day following behind day of official publication.

President of the Republic of Armenia

S. Sargsyan

 

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