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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF AZERBAIJAN

of June 20, 2006 No. 153

About approval of Requirements to the legal entities performing refining of precious metals and Rules of activities of the legal entities who are carrying out work on refining of precious metals

(as amended on 13-05-2016)

For the purpose of ensuring execution of Item 1.6 of the Presidential decree of the Azerbaijan Republic "About application of the Law of the Azerbaijan Republic on introduction of amendments to the Law "About Precious Metals and Gemstones" of November 22, 2005 the No. 317 Cabinet of Ministers of the Azerbaijan Republic decides:

1. Approve "Requirements to the legal entities performing refining of precious metals" and "Rules of activities of the legal entities who are carrying out work on refining of precious metals" (are attached).

2. This resolution becomes effective from the date of signing.

Prime Minister of the Azerbaijan Republic

Artur Rasi-Zade

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of June 20, 2006 No. 153

Requirements to the legal entities performing refining of precious metals

1. These Requirements are prepared for the purpose of ensuring execution of Item 1.6 of the Presidential decree of the Azerbaijan Republic of November 22, 2005 No. 317 "About application of the Law of the Azerbaijan Republic "About precious metals and gemstones" and determine requirements to the legal entities performing refining of precious metals (further - legal entities)".

2. Accomplishment of these requirements is obligatory for all legal entities performing refining of precious metals irrespective of pattern of ownership and legal form.

3. Legal entities shall provide purification of the extracted precious metals of impurity and foreign components, bringing precious metals to the level of state standards, specifications of the Azerbaijan Republic and international standards.

4. Legal entities shall accept the materials provided for refining (freely shlikhtovanny gold, concentrate, the amalgamated "dirty" gold, ingots of ligaturny gold, low-standard ligaturny mixes, household mixes of various test, etc.), after check of compliance to their weight specified in documents.

5. Acceptance delivery of the materials provided for refining shall be made with carrying out necessary documentation.

6. Legal entities for the purpose of receipt of uniformity on the chemical composition, implementation of the approbation necessary for carrying out further settling with the customer, removal of unsuitable impurity and reduction in the necessary form for conversion of material shall provide "reception melting the" of material accepted for refining.

7. Legal entities shall inform the customer on results of the carried-out approbation and amount of precious metals which will be received in writing.

8. Legal entities shall carry out work on refining on the basis of the contract with the owner of raw materials of waste of minerals and (or) precious metals.

9. Legal entities according to technological regulations shall provide in full precious metals from raw materials.

10. Legal entities shall carry out accounting of standard waste which of structure receipt of precious metals is impossible on the operating technology with indication of amount of precious metals in its structure.

11. Legal entities shall provide in the Ministry of Economics of the Azerbaijan Republic and the Ministry of Finance of the Azerbaijan Republic in the terms established by them information on amount of the precious metals received as a result of refining (including in terms of money) and condition of settlement under the signed agreements, metallurgical balance of valuable metals, the number of the signed agreements and amount of the planned deliveries of finished goods.

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of June 20, 2006 No. 153

Rules of activities of the legal entities who are carrying out work on refining of precious metals

1. General provisions

1.1. These rules are prepared for the purpose of ensuring execution of Item 1.6 of the Presidential decree of the Azerbaijan Republic of November 22, 2005 No. 317 "About application of the Law of the Azerbaijan Republic "About precious metals and gemstones" and establish procedure for activities of the legal entities who are carrying out work on refining.

1.2. Execution of these rules is obligatory for the legal entities who are carrying out work on refining (further - the affinaging organizations), irrespective of pattern of ownership and legal form.

1.3. The affinaging organizations serve process of purification of precious metals of impurity and foreign components, bringing precious metals to state standards, specifications of the Azerbaijan Republic and international standards.

2. Activities of the affinaging organizations

2.1. The affinaging organization signs the contract with the owner of raw materials of waste of minerals and (or) precious metals (further - raw materials) with condition of obligatory availability following:

- constituent documents of the owner of raw materials;

- amount and the schedule (schedule) of sending the raw materials which are subject to refining;

- admissible concentration of harmful impurity in the raw materials which are subject to refining;

- the term of accomplishment of refining (taking into account the production technology, production capacity), the nomenclature of the finished goods conforming to state standards of the Azerbaijan Republic, specifications and international standards and term of issue (delivery);

- standard rates of the returnable and standard waste received as a result of refining of precious metals (quantity according to regulation);

- payment procedure of service fee affinaging organizations;

- information on raw materials owner liabilities on sending precious metals to relevant organs of the executive authority of the Azerbaijan Republic;

- degree of responsibility of the parties in cases of breach of agreement;

- procedure for settlement of discrepancies in opinions.

2.2. The affinaging organizations according to technological standard rates shall provide precious metals in the most complete amount. In case of non-compliance with the established standard rates and the quality standards of finished goods measures the punishments prescribed by the current legislation can be applied.

2.3. In the affinaging organizations special accounting of standard waste which of structure receipt of precious metals on the existing technology is impossible, with indication of amount of precious metals in their structure shall be made.

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