LAW OF THE REPUBLIC OF ARMENIA

of July 22, 2014 No. ZR-123

About modification and amendments in the Law of the Republic of Armenia "About lotteries"

Accepted by National Assembly of the Republic of Armenia on June 21, 2014

Article 1. Article 2 of the Law of the Republic of Armenia "About lotteries" of December 17, 2003, ZR-3 (further - the Law) to add with Items 7.1 - 7.4 following of content:

"7.1. executive positions – the head of executive body of the organizer, the head or the responsible of division of the internal control which is engaged in prevention of money laundering and financing of terrorism;

7.2. the real beneficiary – the real beneficiary established by the Law of the Republic of Armenia "About anti-money laundering and terrorism financing";

7.3. the member of the same family – the father, mother, the spouse, the spouse's parents, the grandmother, the grandfather, the sister, the brother, children;

7.4. essential participation – 10 and more percent of participation in the authorized capital of the organizer;".

Article 2. Add the Law with Articles 4.1 - 4.3 following of content:

"Article 4.1. Requirements imposed to organizers of lottery - to the shareholders having essential participation, to the unitholders or participants, their real beneficiaries, persons holding positions and persons affiliated by them

1. The shareholder having essential participation, the unitholder of the organizer or the participant, or his real beneficiary or person affiliated by them cannot be that physical person which:

1) the criminal record for maliciously has the committed crime, and, in the procedure established by the Law the criminal record is not removed or not extinguished;

2) under sentence, legally become effective, it is deprived of the right to hold positions in financial, commercial, economic, legal areas;

3) was declared by bankrupt and has outstanding (unpardoned) obligations;

4) was the reason of bankruptcy of the activities organized by it in the field of gaming earlier;

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