RegAlertRule · CBA · 27 Jan 2025 · 7919
Revoking the Central Bank of the Republic of Armenia Board Resolution No. 302-N, dated November 4, 2008
The Board of the Central Bank of the Republic of Armenia issued Resolution No. 2-N to revoke its previous Resolution No. 302-N dated November 4, 2008. This revocation aligns with legislative amendments that transferred the authority to suspend suspicious transactions to the Financial Monitoring Center and acknowledged the Board's practical inability to decide on freezing assets related to terrorism. The resolution entered into force on the day following its official publication on January 27, 2025.
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Revoking the Central Bank of the Republic of Armenia Board Resolution No. 302-N, dated November 4, 2008
2025-01-14
THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA
BOARD RESOLUTION
January 14,
2025
; No.
2-N
Revoking the Central Bank of the Republic of Armenia Board Resolution No. 302-N, dated November 4, 2008
Publication date` 27.01.2025
Whereas the provisions of the Law No. HO-296-N “On Amendment and Supplements to the Republic of Armenia Law “On Combating Money Laundering and Terrorism Financing”” entered into force starting July 26, 2021, in particular, the Central Bank of the Republic of Armenia Board’s authority to suspend has been transferred to the Financial Monitoring Center of the Central Bank of the Republic of Armenia, as well as the practical impossibility for the Board to make decision in respect of the procedures for freezing the assets of parties related to terrorism and the proliferation of weapons of mass destruction; In view of
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 37 (1) 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:
Revoke the Central Bank of the Republic of Armenia Board Resolution No. 302-N, dated November 4, 2008, on “Approving the procedure for making decision on suspending a suspicious transaction or business relationship or freezing financial funds related to terrorism”.
This resolution to enter into force on the day following its official publication.
Hovhannes
Khachatryan
Deputy Governor,
Central Bank of the Republic of Armenia
Yerevan
.
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- Supersedes
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“Revoke the Central Bank of the Republic of Armenia Board Resolution No. 302-N, dated November 4, 2008”
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