Summary
The Code of Corporate Governance of the Republic of Armenia outlines principles and guidelines for good corporate governance practices in the country. The code is designed to enhance transparency, accountability, and responsibility among companies, and to promote investor confidence. The code covers various aspects of corporate governance, including the rights of shareholders, the role and responsibilities of the board of directors, the management of risk and internal controls, and the disclosure of information. It also establishes requirements for the composition and functioning of board committees, the remuneration of directors and executives, and the conduct of shareholder meetings. The code is applicable to all companies registered in Armenia, including state-owned enterprises, and sets out a voluntary compliance framework. Companies are encouraged to adopt the principles and recommendations of the code, and those that do so can be recognized as having good corporate governance practices. The code is also periodically reviewed and updated to reflect changes in corporate governance best practices.