of December 22, 2005 No. ZR-246
About modification and amendments in the Law of the Republic of Armenia "About pawnshops and lombard activities"
Accepted by National Assembly of the Republic of Armenia on December 8, 2005
Article 1. In article 2 of the Law of the Republic of Armenia "About pawnshops and lombard activities" (ZR-43, of December 3, 2003) the words "authority of the Government" shall be replaced with words Central bank.
Article 2. In part five of article 9 of the Law:
a) to add the subitem "an" after the word "need" with words ", and also in the cases and procedure provided by the Law of the Republic of Armenia "About fight against legalization of income gained in the criminal way and terrorism financings"";
b) declare the subitem "d" invalid.
Article 3. The words "Government of the Republic of Armenia" of part nine of article 13 of the Law shall be replaced with words "authority".
Article 4. To state article 14 of the Law in the following edition:
"Article 14. Control of lombard activities
1. Control of lombard activities is exercised by authority, by means of implementation of checks and the correspondence control according to the procedure, established by the Law of the Republic of Armenia "About the Central bank of the Republic of Armenia".
2. The authority, in case of identification by results of control of violations of this Law, applies responsibility measures, the stipulated in Article 16 these Laws according to the procedure, established by the Law of the Republic of Armenia "About the Central bank of the Republic of Armenia".
3. Within fight against legalization of income gained in the criminal way and terrorism financings, organizers of pawnshops shall provide also to authority the relevant information in the cases and procedure established by the Law of the Republic of Armenia "About fight against legalization of income gained in the criminal way and terrorism financing.".
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