Amendments to Central Bank of Armenia Board Resolution No. 145-N

• Publications
• Board-decisions

Introducing Changes and Additions to the Republic of Armenia Central Bank Board Resolution No. 145-N, dated April 12, 2005

2025-03-13

THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA

BOARD RESOLUTION

March 13,2025; No.34-N

Introducing Changes and Additions to the Republic of Armenia Central Bank Board Resolution No. 145-N, dated April 12, 2005

Publication date` 13.03.2025

For the purpose of aligning the requirements to managers and qualifying holders with international standards and increasing the effectiveness of the procedures in use; In view of Article 181 of the Republic of Armenia Law “On Banks and Banking Activities”; Pursuant to Article 2 (3) and Article 20 (1) (“e”) of the Republic of Armenia Law “On the Central Bank of the Republic of Armenia”, and Article 33 (1) and (3) and Article 34 of the Republic of Armenia Law “On Normative Legal Acts”, the Board of the Central Bank of the Republic of Armenia

E n a c t s:

1. Introduce the following changes and additions to Regulation 1 “Procedures for Licensing, Registration, Granting Consent and Permission; Appraisal of the Professional Adequacy and Qualification in the Banking Activity” as endorsed under the Republic of Armenia Central Bank Board Resolution No. 145-N, dated April 12, 2005, on “Approving Regulation 1 “Procedures for Licensing, Registration, Granting Consent and Permission; Appraisal of the Professional Adequacy and Qualification in the Banking Activity”” (hereinafter referred to as the “Regulation”);

• Changes and additions

2. This resolution to enter into force on the day following its official publication.

Martin Galstyan Governor,

Central Bank of the Republic of Armenia

Yerevan

.

---

1) In paragraph 31 (1) (“b1”), paragraph 95 (1), paragraph 100 (1), paragraph 185 (2) of the Regulation, replace the word “unremoved” with the word “unexpunged”; and in point 5.2 of Appendix 11, and point 8.6 of Appendix 31, replace the words “removed or quashed” with the words “expired or expunged”;

2) In paragraph 89 of the Regulation, after subparagraph 6 add the following 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.”;

3) In paragraph 97 of the Regulation, after subparagraph 5 add the following as subparagraph 6:
“6) 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.”;

4) In paragraph 103 of the Regulation, add the following as subparagraph 103.1:
“103.1. A direct significant participation is considered rejected if the application for an indirect significant participation acquired through it has been rejected.”;

5) Remove the expression “of sound judgment and” from subparagraph 2 of paragraph 178 of the Regulation;

6) In Appendix 11 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”);

7) In Appendix 27 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 Yes
o No
If “Yes”, please provide details
” ,

b/ revoke point 10 (“b”);

8) In Appendix 31 of the Regulation:
a/ after point 8.6 add the following writing as subpoint 8.6.1:
“

8.6.1 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?	□ Yes
If “Yes”, please provide details (date (day/month/year), any legal grounds)	□ No
” ,

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 of the Republic of Armenia Law “On Banks and Banking Activities” and other regulatory instruments adopted pursuant thereto lack?	□ Yes
If “No”, please provide details	□ No
” ,

c/ revoke subpoint “b” of section “I certify that” of point 9.9;

9) In Appendix 32 of the Regulation:
a/ after point 4 add the following writing as subpoint 4.1:
“

4.1. Do the grounds provided for under Article 18’ of the Republic of Armenia Law “On Banks and Banking Activities” and other regulatory instruments adopted pursuant thereto lack?
o Yes
o No
If “No”, please provide details
” ,

b/ revoke subpoint “b” of point 5;

10) In Appendix 45 of the Regulation, after point 10 add the following writing as subpoint 10.1 and subpoint 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)
”