LAW OF THE REPUBLIC OF ARMENIA

of November 4, 2016 No. ZR-191

About entering of amendments and changes into the Law of the Republic of Armenia "About bankruptcy of banks, credit institutions, the investment companies managing investment funds and insurance companies"

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

Article 1. ZR-262 "About bankruptcy of banks, credit institutions, the investment companies managing investment funds and insurance companies" (further - the Law) to add article 2 of the Law of the Republic of Armenia of November 6, 2001 with part 5 of the following content:

"5. The decision of council of the Central bank on insolvency of bank, and also submission to court of the statement for bankruptcy of bank cannot limit implementation of the netting provided by the agreement on netting.".

Article 2. To add article 3 of the Law with part 3 following of content:

"3. The judgment about acceptance to production of the statement for recognition of bank by the bankrupt, and also the court verdict about recognition of bank by the bankrupt cannot limit implementation of the netting provided by the agreement on netting".

Article 3. In the second paragraph of part 6 of article 5 of the Law after words of "the obligations following from mortgage bonds, and assets which are means of their providing" to add with words ", and also in case of netting of the obligations following from the financial transactions and agreements of providing provided by this Law".

Article 4. In article 14 of the Law:

The second offer of part 1 after the words "and on actions" to add 1) with words "(except for netting of the obligations or actions following from the financial transactions and agreements of providing provided by this Law)";

Part 4 to add 2) with the Item "g" of the following content:

"d) on the netting following from the financial transactions and agreements of providing provided by this Law.".

Article 5. To add part 1 of article 16 of the Law with the Item "d" of the following content:

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