LAW OF THE REPUBLIC OF ARMENIA

of December 29, 2010 No. ZR-231

About introduction of amendments to the Law of the Republic of Armenia "About bankruptcy"

Accepted by National Assembly of the Republic of Armenia on December 8, 2010

Article 1. The first offer of part 1 of article 21 of the Law of the Republic of Armenia "About bankruptcy" of December 25, 2006 to state to ZR-51-N (further – the Law) in the following edition:

"By the interim manager the physical person registered (staying on the registry) in the procedure established by the law of the Republic of Armenia as the taxpayer who is engaged in business activity can be designated.".

Article 2. In article 22 of the Law:

Part 1 to state 1) in the following edition:

"1. By the managing director the physical person registered (staying on the registry) in the procedure established by the law of the Republic of Armenia as the taxpayer who is engaged in business activity can be designated.".

2) in part 3 to exclude the words "licensing body and".

Article 3. Regarding 1 article 23 of the Law of the word "The License of the Managing Director Can Be Granted to Physical Person Which Has the Higher Education and within the Last 5 Years Preceding Day of the Request for Receipt of the License" shall be replaced with words "The physical person which has the higher education and within the last 5 years preceding day of the address for the introduction in members of self-regulatory organization of managing directors can be the member of self-regulatory organization of managing directors".

Article 4. In article 24 of the Law of the word of "receipt of the license" shall be replaced with words "registration (accounting) as the taxpayer who is engaged in business activity for the purpose of implementation of activities of the managing director".

Article 5. In article 26 of the Law:

1) in part 1 to exclude the word of "licensed";

2) in part 2 to exclude the words "and copies of their licenses";

3) in the Item of part 6 to exclude words", and also holding training of persons for receipt of the license of the managing director by them".

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