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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of March 1, 2019 No. 186

About approval of the Regulations on procedure for realization of precious metals at the exchange biddings of JSC Uzbek Republican Commodity and Raw Exchange

According to the resolution of the President of the Republic of Uzbekistan of January 17, 2019 "About the state order on production and delivery of precious metals in the Agency on precious metals under the Central bank of the Republic of Uzbekistan in 2019", for the purpose of further enhancement of the mechanism of realization at the exchange biddings of the precious metals used as raw materials for production of industrial output, jewelry and other products, the Cabinet of Ministers decides No. PP-4121:

1. Approve Regulations on procedure for realization of precious metals at the exchange biddings of JSC Uzbek Republican Commodity and Raw Exchange according to appendix.

2. To the Ministry of Economy and Industry of the Republic of Uzbekistan together with the Central bank and the Ministry of Finance of the Republic of Uzbekistan annually when forming forecast parameters of production and distribution of precious metals to provide amounts of release of precious metals for realization at the exchange biddings to producers of products of industrial function, jewelry and other products taking into account their requirements, by reasonable calculations.

3. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan - the Minister of Finance of the Republic of Uzbekistan D. A. Kuchkarov, the Minister of Economy and Industry of the Republic of Uzbekistan B. A. Hodzhayev and the Secretariat concerning development fuel and energy and key branches of the industry of the Cabinet of Ministers of the Republic of Uzbekistan.

Prime Minister of the Republic of Uzbekistan

Abdullah Aripov

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 1, 2019 No. 186

Regulations on procedure for realization of precious metals at the exchange biddings of JSC Uzbek Republican Commodity and Raw Exchange

Chapter 1. General provisions

1. This Provision determines procedure for realization of precious metals at the exchange biddings to producers of products of industrial function, jewelry and other products.

2. In this Provision the following basic concepts are used:

standard ingots (plates) - ingots (plates) of precious metals corresponding to regulating documents in the field of technical regulation of the Republic of Uzbekistan, the manufacturing state of ingots, and also to requirements of the commodity and raw exchanges (further - the exchanges), intended for realization at the exchange biddings as the raw materials used in case of production of jewelry and industrial output;

precious metals - the gold, silver and platinum in the form of ingots, plates, granules and powder corresponding to regulating documents in the field of technical regulation of the Republic of Uzbekistan, and also the manufacturing state;

granules of precious metals - the lumps of precious metal in the form of crystallized fusion of rounded shape made by the companies performing refining of precious metals, realized at the exchange biddings as initial raw materials to producers of jewelry and industrial output;

stock exchange transaction - the purchase and sale agreement of exchange goods registered by the exchange signed by the result of the exchange biddings fixed by the exchange;

members of the exchange - the legal entities who acquired in the procedure established by the exchange the participation right in the exchange biddings and the conclusion of stock exchange transactions as dealers and brokers;

electronic system of the exchange biddings - the global distributed information system including complex of the software and hardware allowing members of the exchange to participate in the exchange biddings in real time by means of remote access from any geographical point of the republic;

clearing house (further - RCP) - the structural division of the exchange providing carrying out clearing and settlement on stock exchange transactions;

advance payment - the sum granted by sellers and buyers of financial resources, including sales charge of the exchange, and also deposit of the parties;

fixing of the London association of the market of precious metals - the procedure of determination and the publication of the price of precious metals applied by the London association of the market of precious metals on the basis of the developed demand and supply.

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