President Armen Sarkissian signed the Law on Confiscation of Illegally Acquired Property and 14 related laws on May 11, according to the president’s office. The laws had been submitted to the president for signature by the National Assembly on April 21.
As noted by the president’s office, the Government justifies the adoption of the law by the need to increase the effectiveness of the fight against crime and to confiscate property illegally acquired as a result of such criminal activity. The statement also recalls that during the discussion phase of the draft law and after its submission to the president for signature, numerous civil society organizations, foreign investors, representatives of the legal and professional community and business circles, human rights defenders and individual citizens had expressed their concerns to the president’s office regarding the constitutionality of the law, the possible corruption risks arising from its application, as well as the law’s possible negative impact and consequences on economic development, the investment environment and financial stability.
“The Office of the President of the Republic has thoroughly and consistently discussed the expressed concerns and considerations with the Chairman of the National Assembly’s Standing Committee on State and Legal Affairs and the Minister of Justice, and has received clarifications. The President of the Republic greatly values the fight against crime. At the same time, it is expected that the law should be applied in strict accordance with its legitimate purpose of adoption, as an exceptional measure to combat crimes of particularly high public danger. The unscrupulous application of the law could undermine trust in the state and jeopardize its effectiveness,” the statement of the president’s office said.
