LAW OF THE REPUBLIC OF ARMENIA

of December 30, 2010 No. ZR-287

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

Accepted by National Assembly of the Republic of Armenia on December 22, 2010

Article 1. In heading of the Law of the Republic of Armenia "About bankruptcy of banks, credit institutions, investment companies and insurance companies" of November 6, 2001, after words of "investment companies" to add ZR-262 (further – the Law) with words ", managing directors of investment fund".

Article 2. To add part 1 of article 1 of the Law after words of "investment companies" with words ", managing directors of investment fund".

Article 3. To add article 2 of the Law with part 4 following of content:

"4. In sense of this Law the obligation for the managing director of contractual investment fund which is the agreement party on management of contractual investment fund those obligations assumed by it according to the transactions connected with management of contractual investment fund which, according to provisions of the Civil code of the Republic of Armenia are subject to accomplishment at his expense are. At the same time the obligations which are subject to accomplishment at the expense of the managing director of fund provided by this part only in case of insufficiency of assets of fund in sense of this Law are obligations for such managing director only as regards missing assets of fund".

Article 4. This Law becomes effective for the tenth day following official publication.

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