Armenian parliament passes bill to toughen control of parties’ finances

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01.12.2011, 03:00

The Armenian parliament passed today a package of amendments to the Law "On Parties" and to a number of related laws, providing tighter control of financial activities of parties.

YEREVAN, November 30. /ARKA/. The Armenian parliament passed today a package of amendments to the Law "On Parties" and to a number of related laws, providing tighter control of financial activities of parties.

"The bill is aimed at ensuring transparency and accountability of the financial activities of the parties," justice minister Hrayr Tovmasyan. said, introducing the bill. According to him, one of the amendments says that the party’s property can be formed only from membership fees.

Another change stipulates that the maximum aggregate amount of donations received by the party in one year can not exceed one billion drams. ($1 - 381.8 drams). -0-

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