Regulatory Alerts2025-09-23 | 8970Resolution on Removing from Registration Stepanavan and Martuni Branches of UPAY Closed Joint-Stock Company
The Board of the Central Bank of the Republic of Armenia issued Resolution No. 169 A on 23 September 2025 to deregister specific branches of UPAY Closed Joint-Stock Company. This action was taken in response to the company's formal application submitted on 12 September 2025 requesting the removal of its Stepanavan and Martuni branches from registration. The decision legally removes these entities from official registration and entered into force immediately upon the Governor's signature.
Publications
Board-decisions
ON REMOVING FROM REGISTRATION “STEPANAVAN” AND “MARTUNI” BRANCHES OF “UPAY” CLOSED JOINT-STOCK COMPANY
2025-09-23
B O A R D O F T H E C E N T R A L B A N K O F T H E R E P U B L I C O F A R M E N I A R E S O L U T I O N 23 September 2025, No. 169 A
ON REMOVING FROM REGISTRATION “STEPANAVAN” AND “MARTUNI” BRANCHES OF “UPAY” CLOSED JOINT-STOCK COMPANY
Guided by Part 3 of Article 2 and point "ac" of Article 20 of the Law of the Republic of Armenia “On the Central Bank of the Republic of Armenia”, and point "a" of Part 5 of Article 21 of the Law of the Republic of Armenia “On Payment and Settlement Systems and Payment and Settlement Organizations”; Taking into account that “UPAY” Closed Joint-Stock Company applied to the Central Bank of the Republic of Armenia on 12 September 2025 to remove from registration the “Stepanavan” and “Martuni” branches of the Company, the Board of the Central Bank of the Republic of Armenia hereby;
R E S O L V E S:
- To remove from registration the “Stepanavan” and “Martuni” branches of “UPAY” Closed Joint-Stock Company.
- This Decision shall enter into force on the date of its signing.
Governor of the Central Bank of the Republic of Armenia Martin Galstyan
Yerevan
.