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Company Law
Despite the mixed picture, there is no doubt that the supply of company law has improved. Several years ago the legal framework for company law was grossly deficient. Now the basic laws exist and the issue has shifted to whether standards of corporate governance can be effectively enforced in court.
Based upon the opinion of lawyers, bankers, businessmen, and business-related NGOs that the team interviewed, major problems associated with the state registration of companies have been corrected. One influential lawyer said company registration was now a “snap.” Others said that a week, more or less, to register a company wasn’t a big problem. Compared with the unfinished business in company law - i.e. corporate governance, enforcement - company registration concerns have receded in importance.
(Note: This information was taken from the Company Law chapter of the 2001 Armenia BizCLIR report. For more information, please see the report.)
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