CONVICTION MAY PREVENT LEGAL ENTITY’S STATE REGISTRATION
/ARKA/
May 18, 2010
YEREVAN
Armenian lawmakers have approved today in the first reading
an amendment to the law regulating state registration of legal
entities. Justice minister Gevork Danielian told lawmakers the bill
was drafted ‘to step up fighting against corruption’
He explained that the proposed bill would ban state registration of
a legal entity if at least 10% of its chartered capital is owned by
a founder of executive head with a record of previous conviction for
economic crimes or financing terrorism.
The economic crimes that would ban registration are illegal
entrepreneurship, misappropriation of credits, premeditated or
fictitious bankruptcy, exposure of commercial of banking secrets,
tax evasion, smuggling, abuse of power and graft.