MEANS OF TRANSPORTATION-RELATED PROPERTY AND COLLATERAL RIGHTS TO BE REGISTERED

T hursday, 18 February 2010

Chaired by Prime Minister Tigran Sargsyan, the Cabinet met in a
planned session at the Office of Government.

The decisions passed at the session initiated the introduction
of the institute of mandatory registration of property and
collateral rights concerning transportation means. The proposed
legislative changes streamline the process of registration of
means of transportation-related property and collateral rights,
the consequences of non-registration of such rights, other relations
concerning such registration. Considering that under current laws,
any change in property rights is subject to mandatory registration
(re-registration), the registration of such property rights will not
bring about additional obligations for new owners. Prime Minister
Tigran Sargsyan pointed out that the passage of said decisions follows
up on a presidential assignment. Therefore, the package needs to be
finalized and submitted to the National Assembly as soon as possible.

The government made changes and amendments to a previous decision with
a view to simplifying the procedure to follow in getting driver’s
licenses. In particular, those licenses received before February
21, 1992 in former SU States can be exchanged without taking a
qualification test.

This rule shall be applicable to such persons as are Armenian nationals
and work at foreign diplomatic missions and international organizations
operating in Armenia. The new decision cancels the requirement of
driving test papers and specifies simpler rules for taking driving
tests. A longer 5-year period is established for keeping of such
papers as are needed for the delivery of driver’s licenses.

In line with RA legislation, the government called back AMD 779.385.686
worth of assets from RA Police inventory (inclusive of traffic signs
and lights posted in Yerevan) and handed them over to Lusanshan
SNCO. This measure seeks to provide for better and operative use and
maintenance of said property.

The Government approved a number of legislative initiatives to be
submitted to the National Assembly in due course.

The executive approved the procedure to follow in selecting, appointing
and supervising the activities of tax inspectorate representatives. The
head of RA State Revenue Committee was told to prepare those taxpayer
registers needed for such selection and appointment and submit them
to the government before the deadline of March 1, 2010.

The Government further approved the results of the tender announced for
the Asian Development Bank-supported improvement of water supply and
drainage systems in Udjan, Aragatsoten, Nor Yedesia, Kosh, Dprevank,
Shamiram and Nor Amanos village communities, according to which the
consortium of Ashotsk Ltd and Kapavor Ltd is recognized to be the
winner of the tender.

During the sitting, the Government adopted a total of thirty decisions.