Amendments to Central Bank Board Resolution No. 344-N

In paragraph 25 (1) (“c1”), paragraph 34 (1) (“d1”), paragraph 94 (1), paragraph 99 (1), paragraph 176 (2), paragraph 229 (1) (“b1”) of the Regulation, replace the word “unremoved” with the word “unexpunged”; and in paragraph 229 (1) (“e”), subpoint 5.2 of Appendix 17, subpoint 8.3 of Appendix 22 of the Regulation, replace the word “removed” with the word “expunged”;

In paragraph 90 of the Regulation, add the following writing as subparagraph 7: “7) an assurance, duly issued by the relevant authority of the country where the non-resident legal entity resides, stating that the person concerned has no outstanding or unexpunged conviction for an intentionally committed crime in accordance with the procedure prescribed by law, and has not been declared bankrupt.”;

In paragraph 96 of the Regulation, add the following writing as subparagraph 7: “7) an assurance, duly issued by the relevant authority of the country where the non-resident legal entity resides, stating that the person concerned has no outstanding or unexpunged conviction for an intentionally committed crime in accordance with the procedure prescribed by law, and has not been declared bankrupt.”;

In paragraph 102 of the Regulation, after the word “the application” add a new sentence with the following content: “A direct significant participation is considered rejected if the application for an indirect significant participation acquired through it has been rejected.”;

Remove the expression “of sound judgment and” from subparagraph 2 of paragraph 169 of the Regulation;

In Appendix 17 of the Regulation: a/ after point 5.2 add the following writing as subpoint 5.2.1: “ | 5.2.1 Are you included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | ” , b/ after point 5.13 add the following writing as point 5.14: “ | 5.14 Are the requirements set forth in relevant laws and regulatory instruments observed? | | :--- | | o No, please provide details. | | o Yes | ” , c/ revoke point 13 (“c”);

In Appendix 21 of the Regulation: a/ after point 9.1 add the following writing as subpoint 9.1.1: “ | 9.1.1 Are you included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | ” , b/ revoke point 10 (“b”);

In Appendix 22 of the Regulation: a/ after point 8.3 add the following writing as subpoint 8.3.1: “ | 8.3.1 Are you included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | ” , b/ after point 8.13 add the following writing as subpoint 8.13.1: “ | 8.13.1 Do the grounds provided for under Article 18 (1) of the Republic of Armenia Law “On Insurance and Insurance Activities” and other regulatory instruments adopted pursuant thereto lack? | | :--- | | o Yes | | o No, please provide details | ” , c/ revoke subpoint “b” of section “I certify that” of point 9;

In Appendix 25 of the Regulation, rewrite point 5.2 as follows: “ | 5.2 Do the grounds provided for under Article 18 (1) of the Republic of Armenia Law “On Insurance and Insurance Activities” and other regulatory instruments adopted pursuant thereto lack with the party? | | :--- | | o No, please provide details (date (day/month/year), any legal grounds) | | o Yes | ” ,

In Appendix 26 of the Regulation, rewrite point 3.2 as follows: “ | 3.2 Do the grounds provided for under Article 18 (1) of the Republic of Armenia Law “On Insurance and Insurance Activities” and other regulatory instruments adopted pursuant thereto lack with the party? | | :--- | | o No, please provide details (date (day/month/year), any legal grounds) | | o Yes | ” ,

In Appendix 41 of the Regulation: a/ in point 7.2, after the word “on part” add the expression “and normative regulations”, b/ after point 7.2 add the following writing as subpoint 7.2.1: “ | 7.2.1 Are you included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | ” , c/ revoke point 8 (“b”);

In Appendix 42 of the Regulation: a/ after point 6.1 add the following writing as subpoint 6.1.1: “ | 6.1.1 Are you included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | ” , b/ after point 6.2 add the following writing as point 6.3: “ | 6.3 Do the grounds provided for under Article 88 (5) of the Republic of Armenia Law “On Insurance and Insurance Activities” and other regulatory instruments adopted pursuant thereto lack with you? | | :--- | | o Yes | | o No, please provide details | ” ,

In Appendix 44 of the Regulation, after point 10 add the following writing as subpoints 10.1 and 10.2: “ | 10.1 Is the beneficial owner included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions? | | :--- | | o No | | o Yes, please provide details (date (day/month/year), any legal grounds) | | 10.2 Has the beneficial owner ever been convicted of an intentional crime? | | o No | | o Yes, please provide details (including about whether the conviction has been expired or expunged in accordance with the procedure prescribed by law) | ”