LAW OF THE REPUBLIC OF ARMENIA

of November 12, 2016 No. ZR-192

About entering of amendment and changes into the Law of the Republic of Armenia "About bankruptcy"

Accepted by National Assembly of the Republic of Armenia on October 27, 2016

Article 1. ZR-51-N "About bankruptcy" (further - the Law) to add part 2 of article 15.5 of the Law of the Republic of Armenia of December 25, 2006 with Item 5 of the following content:

"5) in cases, the stipulated in Article 40.1 this Law".

Article 2. In article 39 of the Law:

The Item "g" of part 1 after the words "with the requirement" to add 1) with words ", except as specified, the stipulated in Article 40.1 this Law";

Part 3 to add 2) with the Item "d" of the following content:

"e) in cases, the stipulated in Article 40.1 this Law.".

Article 3. To add part 2 of article 40 of the Law with the new offer of the following content: "Features of offsetting of the obligations following from financial transactions and agreements of providing are established by article 40.1 of this Law.".

Article 4. Add the law with Article 40.1 of the following content:

"Article 40.1. Offset of the obligations following from financial transactions and agreements of providing

1. In sense of this Law offset is considered:

a) exposure to early execution or early termination of the obligation on payment or delivery according to one or several financial transactions and the agreement of providing according to the agreement on offset;

b) assessment and calculation of the cost which arose owing to the requirement about such termination or early obligation fulfillment for each payment or delivery, stipulated in Item "and" this part, market value, salvage value or cost of replacement of this obligation;

c) conversion of the costs estimated or estimated on the Item of this part in one currency;

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