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The Government proposes amendments to the Law on Confiscation of Property of Illegal Origin aimed at detecting the property of illegal origin and returning it to the field of legality.

The issue was debated in the first reading at the regular sitting of the National Assembly convened on May 19 on the initiative of the Government.

According to the Deputy Prosecutor General of the Republic of Armenia Srbuhi Galyan, the amendments will contribute to the increase of the efficiency of the activity of the most important institute introduced in our state.

“It is also proposed to empower the body conducting the proceedings to have an opportunity to start an investigative proceeding against some persons on its own initiative,” the rapporteur noted, adding that it is about those officials who are obliged to present a declaration.

Taking into account the fact that the envisaged powers may require an involvement of additional resources, as well as make the conduct of examinations time-consuming, it is proposed to envisage a period of examination of proceedings for three years instead of two years.

If the expert states that it is not possible to find out the market price of the property, then the body conducting the proceedings will be given an opportunity to claim the value of acquisition instead of the amount equal to the market value of that property.

If the property is outside Armenia, then the body conducting the proceedings will be given an opportunity to require the cost of acquisition of that property from the responsible person.

The draft proposes other technical amendments.

Answering to the deputies’ questions, the rapporteur informed that 8 out of 9 lawsuits sent to the court were filed. In relation to them, it is expected to confiscate 43 bln AMD.

The Standing (Head) Committee on State and Legal Affairs endorsed the initiative. The deputy Arpine Davoyan voiced about it.