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Issue regulated by draft law placed into circulation was initially regulated by the existing legislation of the Republic of Armenia  2014-07-11 11:11

   In relation to the information circulating in the media regarding the submission of the draft of the Law of the Republic of Armenia “On Making Supplements to the Law of the Republic of Armenia “On Compulsory Enforcement of Judicial Acts” by way of legislative initiative of Deputies of the National Assembly of the Republic of Armenia Arpine Hovhannisyan, Vahram Baghdasaryan and Hermine Naghdalyan, the Legal Department of the Judicial Acts Compulsory Enforcement Service of the Ministry of Justice of the Republic of Armenia deems it necessary to clarify that the issue regulated by the draft law was initially regulated by the existing legislation of the Republic of Armenia.
   Particularly, in accordance with part 2 of Article 43 of the Law of the Republic of Armenia “On Compulsory Enforcement of Judicial Acts”, confiscation of the property of a debtor shall apply in the amount that is necessary for the fulfilment of demands stated in the writ of execution, including expenses for enforcement. This regulation shall also concern proceedings for confiscations by administrative acts, accepting as a basis part 1 of Article 88 of the Law of the Republic of Armenia “On Administration Basics and Administrative Proceedings”.
   Let us also add that the bank accounts of debtors shall be frozen by compulsory enforcement officers through enforcement proceedings instigated by the Judicial Acts Compulsory Enforcement Service of the Ministry of Justice of the Republic of Armenia in the manner prescribed by Decision 520-N of the board of the Central Bank of the Republic of Armenia of 29 August 2006. The amount of the sum to be frozen shall be specifically mentioned in the “I Decided” part of the sample of the form (Form 1) of the decision “On Freezing Funds of the Debtor” of the Annex approved by the aforementioned Decision.
  This means that there is no legislative gap from the perspective of regulation of the aforementioned issue.

LEGAL DEPARTMENT OF THE JUDICIAL ACTS COMPULSORY ENFORCEMENT SERVICE OF THE MINISTRY OF JUSTICE OF THE REPUBLIC OF ARMENIA


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