LAW OF THE REPUBLIC OF ARMENIA

of July 22, 2014 No. ZR-120

About entering of amendments into the Law of the Republic of Armenia "About auditor activities"

Accepted by National Assembly of the Republic of Armenia on June 21, 2014

Article 1. "About auditor activities" of December 26, 2002 ZR-512-N (further - the Law) to add part 2 of article 18 of the Law of the Republic of Armenia with the Item "about 1" of the following content:

"1) to provide information provided by the Law of the Republic of Armenia "About anti-money laundering and terrorism financing" and being trade secret to the authorized person established by this law based on suspicion concerning money laundering or financing of terrorism or based on request of the authorized person in the cases and procedure established by this law;".

Article 2. Add the law with Article 31.4 of the following content:

"Article 31.4. Responsibility of auditing organization and the auditor for non-execution or improper execution of requirements of the Law of the Republic of Armenia "About anti-money laundering and terrorism financing" and the regulatory legal acts adopted on its basis

"1. Authorized body if as a result of the control exercised by it or based on the available information finds out that the auditing organization or the auditor did not perform or it is inadequate performed requirements of the Law of the Republic of Armenia "About anti-money laundering and terrorism financing" and the regulatory legal acts adopted on its basis, then applies to auditing organization of measure of responsibility, established by this law, and to the auditor - the responsibility measures established by the Code of the Republic of Armenia about administrative offenses.".

Article 3. This Law becomes effective for the ninetieth day following behind day of official publication.

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