1. Drafting Corporate Governance Code in Armenia
Central Bank of Armenia
Legal Department
Marine Tumanyan

2. Working Group Formation of working group Ministry of Economy
Central Bank
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EBRD
FSDP
Union of Banks
Others

3. Subcommittees
For:
State owned Enterprises
Banks
Listed Companies

4. Draft codes proposed FSDP and UBA CG Code for Banks
Skeleton of draft CG Code (drafted by EBRD upon discussion with the Working Group)
New draft of CG Code (drafted by EBRD upon discussion with the Working Group)

5. Characteristics of the Code
“Voluntary”
Application of “comply or explain” principle
Unique code for three undertakings
General code for three undertakings

6. Structure The General Code Annex 1- State Owned Enterprises
The Board
Shareholders
Disclosure and Transparency
Annex 1- State Owned Enterprises
Annex 2- Banks
Annex 3- Listed Companies

7. Interactions …. EBRD Ministry of Economy Union of Banks Central Bank
Draft code
Comments on draft
Ministry of Economy
Union of Banks
Central Bank
Others
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Armenia
FSDP

8. Comments Structure of the Code Independent directors
Board structure and board committees
Methods of implementation
Co-operation of executive body and supervisory board
Conflict of interests