of May 24, 2018 No. ZR-317
About modification of 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 May 4, 2018
Article 1. "About bankruptcy of banks, credit institutions, the investment companies managing investment funds and insurance companies" to state part 1 of article 23.5 of the Law of the Republic of Armenia of November 6, 2001 to ZR-262 in the following edition:
"1. In case of the bankruptcy (insolvency) of the participating organization or the centralized issuer provided by the Law of the Republic of Armenia "About secured mortgage bonds" the mortgage managing director transfers the assets registered in the register, and obligations as regards mortgage bonds as a unit on the basis of permission of the Central bank to other issuer according to the procedure established by this Article.
At the same time in case of bankruptcy (insolvency) of the participating organization those its assets which provide the loans on secure refinancing granted to this participating organization by the centralized issuer can be transferred to the centralized issuer or with the consent of the centralized issuer to other issuer recognized insolvent including the participating organization.".
Article 2. This Law becomes effective for the tenth day after its official publication.
President of the Republic of Armenia
A. Sargsyan
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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