Property of Dissolved Parties to be Transferred to Government

The newspaper "Zhoghovurd" reports that the Ministry of Justice of the Republic of Armenia has presented a draft package to amend the constitutional law on political parties. The package is set to be discussed in the National Assembly's Standing Committee on Legal Affairs on February 4.

Currently, under existing regulations, only monetary assets can be transferred to the state budget. This means that in the event of the dissolution of a foundation, any remaining non-monetary property cannot be effectively transferred to the state budget, as the state budget is formed exclusively from monetary means.

Moreover, other types of property cannot be allocated to any body, as stipulated clearly in the constitutional law on political parties, the Civil Code of the Republic of Armenia, and the Law of the Republic of Armenia on Foundations. According to these provisions, the property is transferred to the state budget if appropriate.

The need for the constitutional law to amend the regulations on political parties arises from the complications associated with allocating non-monetary property to the respective body.

More details can be found in today’s issue of the newspaper.