The Government has proposed amendments and addenda to the Law on Enforcement of Judicial Acts. It is proposed to provide for confiscation proceedings of 200.000 AMD and more, with the consent of the creditor, regardless of the existence of property owned by the debtor, to expand the scope of confiscation to the latter’s income, if there are no other funds subject to confiscation, and the amount of the debtor’s salary is sufficient, foreclosing on them to repay the claim within a maximum period of six months.
The bill was debated in the first reading. At the NA sitting of April 30, it was presented by the RA Deputy Minister of Justice Levon Balyan.
According to the rapporteur, not ignoring the importance of enforcement of the act to be executed, an additional guarantee is created for the protection of the debtor’s social situation, because confiscation of income is already a basis for not performing actions aimed at the forced realization of the debtor’s property.
It is proposed as an additional social guarantee to establish that confiscation cannot be extended to the property that is provided as support or compensation by the decision of the Government and the same decision of the Government defines that the given property is not subject to confiscation. Article 62 of the Law is proposed to be supplemented with part 4.
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The Chair of the Standing Committee on State and Legal Affairs Vladimir Vardanyan presented the endorsement of the Committee. According to him, the draft aims to clearly balance the relations between the debtor and the creditor due to the actions of the enforcement service.
National Assembly of the Republic of Armenia