Amendments to Republic of Armenia Central Bank Board Resolution No. 14-N

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Introducing Additions and Changes to the Republic of Armenia Central Bank Board Resolution No. 14-N, dated January 15, 2008

2025-03-13

THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA

BOARD RESOLUTION

March 13,2025; No.38-N

Introducing Additions and Changes to the Republic of Armenia Central Bank Board Resolution No. 14-N, dated January 15, 2008

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; 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 additions and changes to Regulation 5/02 “Registration and Licensing of the Central Depository; Procedure for Obtaining a Preliminary Consent to Acquire Qualifying Holding in Statutory Capital of the Central Depository; Procedure, Method and Timeframe for Presenting the Business Plan” as endorsed under the Republic of Armenia Central Bank Board Resolution No. 14-N, dated January 15, 2008 on “Approving Regulation 5/02 “Registration and Licensing of the Central Depository; Procedure for Obtaining a Preliminary Consent to Acquire Qualifying Holding in Statutory Capital of the Central Depository; Procedure, Method and Timeframe for Presenting the Business Plan”” (hereinafter referred to as the “Regulation”):

• Additions and changes

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

.

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1) In paragraph 23 (1) (“c1”), paragraph 37(1.1), paragraph 42 (1.1), replace the word “unremoved” with the word “unexpunged”; and in point 5.2 of Appendix 5, point 8.3 of Appendix 9 to the Regulation, replace the words “removed or quashed” with the words “expired or expunged”;
2) In paragraph 33 (1) of the Regulation, add the following writing as subparagraph 1.1:
“1.1) 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 39 (1) of the Regulation, add the following writing as subparagraph 1.1:
“1.1) 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 48 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.”;
5) In Appendix 5 to 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”);

6) In Appendix 8 to 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	Yes	No
published under or in accordance with the United Nations Security Council resolutions?
If “Yes”, please provide details
”, b/ revoke point 10 (“b”);

7) In Appendix 9 to 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 55 (1) of the Republic of Armenia Law “On Securities Market” 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;

8) In Appendix 19 to the Regulation, after point 10 add the following writing as points 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)
”.