LAW OF THE REPUBLIC OF ARMENIA

of May 24, 2018 No. ZR-321

About modification and amendments in the Law of the Republic of Armenia "About securitization of the assets and securities provided with assets"

Accepted by National Assembly of the Republic of Armenia on May 4, 2018

Article 1. In the Law of the Republic of Armenia of May 26, 2008 ZR-96-N "About securitization of the assets and securities provided with assets" (further - the Law) the word "fund" in the corresponding case forms to replace with the word "fund".

Article 2. To state article 1 of the Law in the following edition:

"1. This Law governs the relations connected with process of securitization of assets and release, turnover and repayment of the securities provided with assets.".

Article 3. In article 2 of the Law:

Part 1 to state 1) in the following edition:

"1. The relations on securitization of assets are governed by the Laws of the Republic of Armenia "About the security market", "About investment fund", the Civil code of the Republic of Armenia, other laws and other legal acts adopted on their basis if other adjustment is not provided by this Law.";

To add 2) with part 3 following of content:

"3. The relations connected with legal status, creation, regulation of activities of funds of securitization, the activities termination, bankruptcy, liquidation of funds of securitization, activities of managing funds of securitization, and also control of securitization process are regulated by the Laws of the Republic of Armenia "About investment fund", "About the security market", and in the cases and limits provided by them - regulatory legal acts of the Central bank.".

Article 4. Regarding 1 article 3 of the Law:

1) paragraphs "debtor", "issuer", "residual cost", "depositary", "fund of securitization" and "the managing director of fund of securitization" to exclude;

The paragraph "assets" after the word "inflows" to add 2) with words "(including security, debit debt)";

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info