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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of September 30, 2017 No. 778

About approval of the Regulations on procedure for realization and implementation of calculations for precious metals for production of jewelry

(as amended on 31-12-2020)

In pursuance of the resolution of the President of the Republic of Uzbekistan of August 10, 2017 "About measures for the state support of the jewelry industry" the Cabinet of Ministers decides No. PP-3199:

1. Approve and enact since October 1, 2017 Regulations on procedure for realization and implementation of calculations for precious metals for production of jewelry according to appendix.

2. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan D. A. Kuchkarov and the chairman of the Central bank of the Republic of Uzbekistan M. B. Nurmuratov.

Prime Minister of the Republic of Uzbekistan
Abdullah Aripov

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 30, 2017 No. 778

Regulations on procedure for realization and implementation of calculations for precious metals for production of jewelry

Chapter 1. General provisions

1. This Provision according to the resolution of the President of the Republic of Uzbekistan of August 10, 2017 No. PP-3199 "About measures for the state support of the jewelry industry" establishes procedure for realization and implementation of calculations for precious metals for production of jewelry.

2. Gold and silver (further - precious metals) are acquired by the legal entities and individual entrepreneurs (further - producers of jewelry) having the license granted by the State assay chamber under the Ministry of Finance of the Republic of Uzbekistan (further - Assay chamber) on production of jewelry and other products from precious metals and gemstones.

3. The realization of plates of precious metals to producers of jewelry is enabled according to the scheme according to appendix No. 1 to this Provision.

4. GP "Navoiy" and JSC Almalyksky MMC or other producers of precious metals provide to MMC production of precious metals (gold and silver) in the form of measuring plates and granules on the basis of state standard.

Chapter 2. Mechanism of realization of precious metals to producers of jewelry

5. Producers of jewelry submit applications to commercial banks in the terms provided in appendix No. 1 to this Provision and also in form according to appendix No. 2 to this Provision, with indication of necessary amount of precious metals. At the same time the minimum amount of the request shall be at least 100 grams.

The commercial bank in case of application of jewelry by the producer checks availability at it the current license for production of jewelry by means of the portal of open data https://data.gov.uz or using the information system "License" (www.license.uz) and registers the accepted request in the separate book of registration with indication of the necessary data which are available in the request.

Producers of jewelry deposit in commercial bank the money necessary for acquisition of the declared amount of precious metals according to Items 14-15 of this provision.

6. Head commercial banks, proceeding from requests of producers of jewelry, send till 12:00 o'clock each working day the summary request to the Central bank of the Republic of Uzbekistan (further - the Central bank) on acquisition of necessary amount of precious metals in form according to appendix No. 3 to this Provision.

7. Central Bank within two working days from the date of receipt of the summary request of head commercial bank and proceeding from actual weight of implementable plates of precious metals exposes to head commercial bank the invoice on payment.

8. The head commercial bank in full performs payment for precious metals within two working days from the date of the statement by the Central bank of the invoice on payment.

After payment implementation the head commercial bank sends the letter to the Central bank with indication of amount of precious metals by producers of the jewelry which performed payment, data of the responsible person (surname, name, middle name, series and passport number) authorized to accept plates of precious metals with appendix of the power of attorney of commercial bank on receipt of values.

9. Central Bank issues to head commercial banks of plate of precious metals of the corresponding weight for which payment was made.

10. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 31.12.2020 No. 834

11. Commercial banks issue the precious metals to producers of jewelry acquired according to their requests within five working days from the date of receipt of precious metals from the Central bank.

Transportation of precious metals by commercial banks is performed with observance of security measures in the procedure established by the legislation.

12. Transactions on realization of precious metals between the Central bank and head commercial banks, and also between commercial banks and producers of jewelry are performed based on separate agreements.

Chapter 3. Implementation of calculations for precious metals

13. Central Bank implements precious metals in the form of plates weighing from 100 grams for national currency on the terms of complete advance payment.

14. Calculation of cost of precious metal in terms of net weight, and also the amounts of the means deposited in commercial bank is performed on the basis of morning fixing of the London exchange of the precious metals and Central Bank rate operating for date of submission of the request by commercial bank in the Central bank.

The cost of precious metal is determined on the basis of calculations according to appendix No. 4 to this Provision.

15. Upon the demand of commercial bank the amount of the deposited means shall be added by the producer of jewelry on the basis of the invoice exposed by the Central bank on payment calculated proceeding from the exact weight of plates of precious metals and shall be sufficient for purchase of the declared amount of precious metals. The margin of commercial bank according to Item 16 and the commission paid to the Central bank according to Item 17 of this provision also enters the amount of the deposited means.

Requests of producers of jewelry according to which the amount of deposited means is insufficient for purchase of precious metals are cancelled.

16. Commercial banks implement precious metals to producers of jewelry.

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