LAW OF THE KYRGYZ REPUBLIC

of August 5, 2022 No. 87

About precious metals and gemstones

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 30, 2022

Chapter 1. General provisions

Article 1. Coverage of this Law

1. This Law establishes the legal basis of regulation of the relations arising in the field of transactions with precious metals and gemstones including:

1) determines the basic concepts and conditions of carrying out transactions with precious metals and gemstones;

2) establishes the legal basis of state regulation and control of transactions with precious metals and gemstones;

3) determines bases of forming of the State fund of precious metals and gemstones of the Kyrgyz Republic.

2. Operation of this Law does not extend on:

1) the relations regulated by the legislation on subsoil;

2) the relations regulated by the bank law;

3) the relations connected with making by the physical persons who are not individual entrepreneurs, transactions with the jewelry and other products from precious metals which are in property of physical persons for private use.

Article 2. The legislation in the field of transactions with precious metals and gemstones

1. The legislation in the field of transactions with precious metals and gemstones is based on the Constitution of the Kyrgyz Republic and consists of this Law and other regulatory legal acts and also which became effective in the procedure for international treaties established by the legislation which participant is the Kyrgyz Republic, governing the relations in the field of transactions with precious metals and gemstones.

2. Legal entities and individual entrepreneurs, the performing transactions (transactions) with precious metals and gemstones, shall observe the legislation of the Kyrgyz Republic in the field of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income.

Article 3. The basic concepts used in this Law

In this Law the following concepts are used:

1) the analysis - determination of the chemical composition of precious metals and their alloys of which the product, including by application of the methods providing destruction of this product is made;

2) the affined precious metals - the precious metals which underwent the processing and cleaning of impurity and the accompanying components brought to the quality conforming to the state standards of the Kyrgyz Republic approved by national authority on standardization, or the international standards provided by the international treaties which came in the procedure established by the law into force which participant is the Kyrgyz Republic;

3) refining of precious metals - process of purification of precious metals of impurity and the accompanying components, bringing precious metals to the quality conforming to the state or international standards;

4) the affined measuring ingots - the made and marked ingots from precious metal (gold, silver or platinum) weighing 1000 grams and less, with content of chemically net main metal is at least 99,90 of percent of ligaturny mass of ingot for gold, 99,90 of percent of ligaturny mass of ingot for silver at least 99,95 of percent of ligaturny mass of ingot for platinum suffices;

5) the affined standard ingots - the made and marked ingots from gold or silver conforming to the International standards of quality accepted by the London association of the market of precious metals;

6) the affined precious metals in non-standard form - precious metals of any form (cores, granules, plates, wire and other) and the sizes other than form and the sizes of standard and measuring ingots of the affined precious metals;

7) the state assay brand - the sign of the sample established by the legislation of the Kyrgyz Republic applied on the jewelry and other products made of precious metals, and certifying test of the precious metal containing in such product;

8) The state fund of precious metals and gemstones of the Kyrgyz Republic - the precious metals, gemstones and products from them enlisted in asset of the state and intended for ensuring the state production, scientific and welfare requirements;

9) gemstones - natural diamonds, emeralds, rubies, sapphires, alexandrite, and also natural pearls in the crude (natural) and processed type and unique amber educations, according to the established criteria;

10) precious metals - gold, silver, platinum and metals of platinum group (palladium, iridium, rhodium, ruthenium, osmium) in any kind and condition: in raw materials, alloys, semifinished products, industrial products, chemical compounds, jewelry and other products, scrap and waste;

11) mark - special sign which print is put by the manufacturer on all jewelry and other products made by it from precious metals, registered in authorized state body and containing information on his manufacturer in encrypted form;

12) use of precious metals and gemstones - use of precious metals and gemstones for the production, scientific and welfare purposes and as currency assets;

13) branding - drawing print of assay brand on jewelry and other products from precious metals;

14) concentrate - product of mineral processing with the increased content of minerals and the lowered content of harmful components in comparison with initial ore, in the presence in concentrate of industrial content of gold - gold-bearing concentrate;

15) scrap and waste of precious metals - products (products) from precious metals and their alloys, the parts of these products (products) which became useless or lost the consumer properties and (or) functional purpose; the unrecoverable scrap which arose in production process of such products (products) and also the remaining balance of raw materials, materials, semifinished products containing the precious metals formed in production process and (or) consumption;

16) transactions with precious metals and gemstones - actions, connected:

a) with transition of the property right and other rights to precious metals and gemstones (the address of precious metals and gemstones), including their use as pledge;

b) with intake of precious metals and gemstones to storage locations, funds and inventories, and also storage and leave (issue) of precious metals and gemstones;

c) with change of content or physical condition of precious metals and gemstones in any substances and materials in case of their production, conversion and use;

d) with import of precious metals, gemstones to the territory of the Kyrgyz Republic and their export from the territory of the Kyrgyz Republic;

17) approbation - determination or confirmation of test of alloy of precious metals in jewelry and other products;

18) conversion of scrap and waste of precious metals - extraction of precious metals with use of mechanical, chemical and metallurgical processes of scrap and waste of precious metals for receipt of intermediate product of the metallurgical production intended for the subsequent refining;

19) test - quantity of mass fractions of chemically net precious metal on 1 (one) one thousand mass fractions of alloy of precious metal;

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