ARMENIAN LEGISLATION ON FINANCIAL SERVICES BROUGHT INTO LINE WITH EUROPEAN LAWS

Noyan Tapan
Feb 27 2007

YEREVAN, FEBRUARY 27, NOYAN TAPAN. The RA National Assembly on
February 27 passed 15 bills and legislative packages discussed the
day before. Most of these bills and legislative packages envisage
amendments and additions in current laws.

Particularly, the amendment to the RA Code of Administrative
Infringements (it was passed in first reading) invalidates the article
on entering an election center while being armed, as the RA Criminal
Code also envisages punishment for this action.

The addition to the Law on Protection of Atmosphere (passed in first
reading) clarifies obligations of construction organizations with
the aim of reducing dust emissions during construction.

In accordance with amendments to the RA Criminal Code (passed in
first reading), the minimum amount of fine for illegal tree cutting
has been increased.

The bill on preservation, protection, keeping and hunting of hunt
animals and the bill on organic agriculture were passed in first
reading, the package of bills on insurance and insurance activity –
in second reading, particularly, the RA legislation on financial
services is brought into line with EU laws, and the bill on unions
of employers was passed in third reading.