The person entitled to manage the Account shall manage it through non-cash payments until the Account holder is 18, exceptionally:
1) for the repayment of interests and principal amounts of mortgage-backed loans and loans disbursed for an apartment purchase and construction in the Republic of Armenia, if the Borrower is either a parent or adopter of an Account holder,
2) for the payment of tuition fees (preschool institution fee) of an Account holder, family member and legal representative thereof during their education at one of the licensed educational institutions in the Republic of Armenia,
3) for the repayment of interests and principal amounts of the loan disbursed to the parent or adopter of an Account holder, if the loan interest rate is partially subsidized in compliance with the procedure approved by Sub-clause 1, Clause 4 of the RA Government Resolution 349-N from 31 March 2011 and if there is an opinion of the rural finance facility of Rural Areas Economic Development Programme Implementation Unit of Staff of the Government of the Republic of Armenia State Agency about the purpose usage of the loan.
4) for the purchase of an apartment, residential house or other real estate in remote, border or alpine settlements with the population of up to 1000 stipulated by Resolution N1017-N from 14 July 2005, if the purchaser is a parent or adopter of an Account holder (through transferring amount to the seller’s account).
The Bank shall cease the execution of account transactions based on the order received from the State Social Security Service of the RA Ministry of Labor and Social Affairs (the Service) on suspending the right of account management by the person entitled to manage the Account unless another order is received form the Service or unless the Account holder turns 18
The Account holder shall have a right to manage their account without any restrictions after turning 18.