LAW OF THE REPUBLIC OF ARMENIA

of July 17, 2020 No. ZR-359

About modification and amendments in the Law "About Currency Control and Currency Exchange Control"

Accepted by National Assembly of the Republic of Armenia on July 8, 2020

Article 1. In article 6 of the Law of November 24, 2004 No. ZR-135 "About currency control and currency exchange control" (further - the Law):

Part 2 to state 1) in the following edition:

"2. Money payments for sales of goods (property), rendering services, performance of works, uses of property between residents in the territory of the Republic of Armenia (including the interest payments paid for financial transactions), compensations this for implementation or provision of the right or the privilege insurance payments and insurance compensations are accepted and performed in the dramas of the Republic of Armenia, except as specified, provided by this Law.";

To add 2) with part 9 of the following content:

"9. Payments of the percentage amounts as regards the foreign currency credits provided in the territory of the Republic of Armenia, and the attracted foreign currency deposits at the request of the borrower or the investor, payments as regards foreign currency bonds (including coupons), payments (transfers) as regards the derivative financial transactions connected with the security expressed in the foreign currency established by the Law of the Republic of Armenia "About the security market", foreign currency or interest rate, payments (transfers) as regards repurchase agreements can be made in that currency in which obligation is assumed, except as specified, established by the Central bank.".

Article 2. To add part 2 of article 7 of the Law with the new offer of the following content: "This part does not limit the conclusion to persons rendering investment services and insurance companies of the derivative financial transactions provided by the Law of the Republic of Armenia "About the security market" according to the laws regulating their activities.".

Article 3. This Law becomes effective next day after its official publication.

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