RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF UZBEKISTAN, STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON DEMONOPOLIZATION, SUPPORT OF THE COMPETITION AND ENTREPRENEURSHIP

of August 11, 2006 No. 73, on August 11, 2006 No. 3

About approval of the Regulations on procedure for forming of purchase prices on the scrap and waste of non-ferrous metals accepted by JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals and its regional companies

In pursuance of Item 7 of the Resolution of the President of the Republic of Uzbekistan of July 18, 2006 NPP-419 "About Enhancement of System of Collection, Procurement and Conversion of Scrap, Waste of Non-ferrous Metals" is decided:

1. Approve the enclosed Regulations on procedure for forming of purchase prices on the scrap and waste of non-ferrous metals accepted by JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals and its regional companies.

2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Approved by the resolution of the Ministry of Finance of the Republic of Uzbekistan and the State committee of the Republic of Uzbekistan on demonopolization, support of the competition and entrepreneurship of August 11, 2006 No. 73 and No. 3

Regulations on procedure for forming of purchase prices on the scrap and waste of non-ferrous metals accepted by JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals and its regional companies

This Provision is developed in pursuance of Item 7 of the Resolution of the President of the Republic of Uzbekistan of July 18, 2006 NPP-419 "About Enhancement of System of Collection, Procurement and Conversion of Scrap, Waste of Non-ferrous Metals" and regulates the mechanism of forming and use of the prices of scrap and the waste of non-ferrous metals which is purchased by JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals and its regional companies.

I. General provisions

1. The terms and reducings applied in this Provision have the following values:

The processor - JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals;

Suppliers - the processor and his regional branches;

Lomosdatchiki - the legal entities and physical persons implementing LOTsM to the supplier;

scrap and waste of non-ferrous metals - LOTsM;

The London Metal Exchange - LBM.

2. LOTsM are bought by suppliers from lomosdatchik in the procedure established by the legislation.

II. Approval procedure of purchase prices on scrap and waste of non-ferrous metals

3. Purchase prices on LOTsM are established for the periods lasting up to 45 days at least two according to the technique stated in Chapter III of this provision quarterly.

4. In case of sharp change of the quotation of the price of non-ferrous metal on LBM (more than for 7 percent from the moment of the previous approval) purchase price on LOTsM shall be reviewed.

5. Purchase prices on LOTsM affirm board decision of JSC Tashkent Plant on Procurement and Conversion of Scrap, Waste of Non-ferrous Metals (further - Board) which is drawn up by the relevant protocol with indication of in it terms of commissioning and the period of action of new purchase prices.

The protocol affirms at least in three working days prior to entry into force of new purchase prices on LOTsM.

6. The processor brings the approved purchase prices on LOTsM to the regional companies in one-day time.

7. The processor publishes the approved purchase prices on LOTsM on the website or in mass media at least in one day prior to their entry into force.

8. Copies of protocols on approval of purchase prices on LOTsM are represented to the Ministry of Finance of the Republic of Uzbekistan and the State committee of the Republic of Uzbekistan on demonopolization, support of the competition and entrepreneurship no later than date of their publication.

III. Method of calculation of purchase prices on scrap and waste of non-ferrous metals

9. Purchase prices on scrap and waste of those non-ferrous metals which are not quoted on LBM are determined proceeding from market situation.

10. Purchase prices on scrap and waste of those non-ferrous metals which are quoted on LBM are determined according to Items 11-14 of this provision.

11. For each metal (alloy) average current price on LBM (the price of the current deliveries by the line "cash buyer") for the last seven days according to the Website of LBM or specialized periodicals (bulletins), with recalculation on the Uzbek bags at the rate of the Central bank of the Republic of Uzbekistan for date of determination of basic price is determined.

12. The basic price of metal (alloy) is determined by formula:

where

S - average price of metal (alloy) on LBM in terms of the Uzbek bags at the rate of the Central bank of the Republic of Uzbekistan for date of determination of basic price;

With - costs for certification, examination and transportation of metal (alloy) which need to be performed for its realization on LBM (the limit of such costs for every quarter is approved with the Ministry of Finance of the Republic of Uzbekistan);

R - production costs and receipt of metal (alloy) from LOTsM, without the cost of LOTsM serving as raw materials. For products included in the State register of associations (companies) - monopolists of the republican goods market, this size is calculated so that profitability of product would not exceed the marginal profitability declared in the Ministry of Finance.

13. The derivative prices of LOTsM by classes, groups and grades are determined proceeding from physical signs, the chemical composition and by quality indicators, the corresponding state standard specifications, by coefficients according to the appendices NN1 - 6 to this Provision, by formula:

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