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08/06/2005 No 295 N ON APPROVAL OF REGULATION 18 ISSUING PERMIT TO ESTABLISH AND OPERATE ARMENIAN PAYMENT AND SETTLEMENT SYSTEMSThis Regulation incorporates changes made in accordance with CBA Board Resolution No 154_N dated 25.09.20 (new version)By virtue of Articles 5, 6, 7, Article 16.1 of the Republic of Armenia law On Payment Systems and Payment and Settlement Organizations and pursuant to Article 20 e of the Republic of Armenia law On Central Bank of the Republic of

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