Yerevan /Mediamax/. Armenian government approved a draft law on setting up a state cadastre of transport means today.

Mediamax reports that representatives of commercial banks and the Union of Armenian Banks had repeatedly stated the need to approve such a law.

As the Deputy Head of the Police Hovhannes Hunanyan stated at the session of the government today, the law will regulate registration of rights for property and pawning of transport means. The new law will allow credit organizations managing their risks, will organize the relations, concerning pawning or property right for a transport means and will stimulate growth of car crediting.

Hovhannes Hunanyan noted that introduction of a state cadastre does not provide for additional financial load for car owners.

Prime Minister Tigran Sargsian informed that the draft law is elaborated by the order of Armenian President and should be rushed to the National Assembly for consideration. The Prime Minister charged the corresponding establishments with making corrections in the draft law in the course of 2 days. The corrections should be related to registration of transit transport means, as well as car purchase and sale deals on the territory of neighboring Georgia.