Правовая природа бездокументарных ценных бумаг

Nowadays the uncertificated securities consist of the great part of securities market but still there is no clear notion of their legal essence. The article reveals two approaches of the legal essence of uncertificated securities: whether they should be considered as an object of property law or not. The article shows the regulation of Republic of Armenia and indicates the author’s opinion concerning the issue. At the end the author suggests changing some statements in The Civil Code of RA.

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