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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of May 15, 2024 No. 604

About approval of requirements to investment precious metals and Rules of turnover of investment precious metals

According to articles 1 and 11 of the Federal law "About Precious Metals and Gemstones" Government of the Russian Federation decides:

1. Approve enclosed approved with the Central bank of the Russian Federation:

requirements to investment precious metals;

Rules of turnover of investment precious metals.

2. This resolution becomes effective since September 1, 2024 and is effective till September 1, 2030.

Russian Prime Minister

M. Mishustin

Approved by the Order of the Government of the Russian Federation of May 15, 2024 No. 604

Requirements to investment precious metals

1. This document determines requirements to investment precious metals - to the affined gold, silver, platinum and palladium in ingots which are acquired by physical persons for private use and are not held for use in the production purposes.

2. Investment precious metals represent measuring or standard ingots which mass is determined according to provisions of national standards of the Russian Federation.

Each ingot of investment precious metal shall be followed by the quality certificate of ingot (the certificate or the passport) which is drawn up according to Item 7 (1) the Operating procedure of the organizations performing refining of precious metals, No. 972 approved by the order of the Government of the Russian Federation of August 17, 1998 "About approval of the Operating procedure of the organizations performing refining of precious metals, and the list of the organizations having the right to perform refining of precious metals".

3. Characteristics (property) of investment precious metals, their key parameters, the sizes and marking shall correspond to provisions of national standards of the Russian Federation.

4. Investment precious metals are subject to the packaging ensuring their safety and protection against damages during the transporting and storage.

Approved by the Order of the Government of the Russian Federation of May 15, 2024 No. 604

Rules of turnover of investment precious metals

1. These rules establish procedure for turnover of investment precious metals the credit institutions, legal entities and individual entrepreneurs performing transactions with precious metals and gemstones in accordance with the legislation of the Russian Federation about precious metals and gemstones.

2. In these rules turnover of investment precious metals is understood as transactions with investment precious metals - the actions which are expressed in transition of the property right and other property rights to investment precious metals, their transfer and acceptance as a deposit and also transportation and storage of investment precious metals.

3. Transactions with investment precious metals have the right to make the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia and also the legal entities and individual entrepreneurs staying on the special registry of the legal entities and individual entrepreneurs performing transactions with precious metals and gemstones (further - legal entities and individual entrepreneurs).

Credit institutions have the right to perform transactions with investment precious metals with observance of requirements of the regulations of the Central bank of the Russian Federation regulating procedure for acceptance, accounting, storage and issue of precious metals.

4. The organizations performing refining of precious metals the organization making banknotes and coin of the Bank of Russia and also legal entities and individual entrepreneurs has the right to make the following transactions with investment precious metals:

a) the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia - sale of investment precious metals to physical persons;

b) the legal entities and individual entrepreneurs performing the types of economic activity included in 47.77 All-Russian Classifier of Economic Activities in group (OK 029-2014 (Edition KDES 2), - sale to physical persons of the investment precious metals received under commission agreements or agency agreements for realization from the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia;

c) legal entities and individual entrepreneurs, the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia (in the presence of license for activities on buying up at physical persons of jewelry and other products from precious metals and (or) gemstones, scrap of such products, procurement of scrap and waste of precious metals and products (products) containing precious metals), - acquisition at physical persons of investment precious metals;

d) the pawnshops staying on the special registry - acceptance from physical persons of investment precious metals in pledge or on storage and sale or transfer of unclaimed investment precious metals to the affinaging organizations for refining;

e) the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia and also legal entities and individual entrepreneurs - storage and transportation of investment precious metals.

5. Sale of investment precious metals by remote method of sale of goods according to the Rules of sales of goods under the agreement of retail purchase and sale approved by the order of the Government of the Russian Federation of December 31, 2020 No. 2463 "About approval of Rules of sales of goods under the agreement of retail purchase and sale, the inventory of long-term use on which the consumer requirement on non-paid provision to it the goods having the same main consumer properties for repair or replacement of such goods, and the list of the nonfoods of proper quality which are not subject to exchange and also about introduction of amendments to some acts of the Government of the Russian Federation", with observance of requirements of the legislation of the Russian Federation on counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism and taking into account provisions of these rules does not expatiate is allowed.

6. Sale to physical persons and acquisition at physical persons of investment precious metals by the organizations performing refining of precious metals, the organization making banknotes and coin of the Bank of Russia, legal entities and individual entrepreneurs are performed based on the purchase and sale agreement according to the Civil code of the Russian Federation. The compulsory provision of the purchase and sale agreement is acquaintance of physical person that investment precious metals are intended for private use and are not held for use in the production purposes.

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