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of December 19, 1991 No. UP-398

About creation of gold stock and fund of precious metals in the Republic Kyrgyzstan

(as amended of the Presidential decree of the Republic Kyrgyzstan of 15.10.1992 No. 300)

The gold stock of the Republic Kyrgyzstan is one of essential economic conditions of its state sovereignty, necessary prerequisite of broad attraction of foreign investments, and also creation of national currency.

However, despite gold mining in significant amount, in the republic there is no gold stock so far because gold-bearing raw materials were constantly exported from the republic contrary to its interests. Legal guarantees of protection of interests of the republic in this sphere are absent and now.

According to the Declaration on the state independence of the Republic Kyrgyzstan, for the purpose of streamlining of legal settlement of production and use of gold and other precious metals in the territory of the republic, and also I decide creations of its gold stock:

1. Determine that regulation of the relations connected with search, investigation, production, extraction, conversion, realization, and also storage of gold and other precious metals in the territory of the republic is under exclusive authority of the Republic Kyrgyzstan.

2. Form under the Ministry of Finance of the Republic Kyrgyzstan Upravleniye of precious metals, the State storage of values (Gokhran) of the Republic Kyrgyzstan and Inspection of assay supervision.

3. Determine that the legal entities and citizens who are engaged in production, conversion of products containing precious metals including secondary resources and waste and also production of products from them, perform the activities for special permissions (licenses) issued in accordance with the established procedure.

4. To the government of the Republic Kyrgyzstan:

start forming in the republic of gold stock and fund of precious metals;

provide acceptance and storage of gold, other precious metals conforming to the approved state standards since January, 1992;

determine procedure for the state control of all transactions with gold and other precious metals in the territory of the republic;

determine taking into account offers of areas annual gold mining quotas and other precious metals, establish procedure for their bringing to the companies and the organizations;

develop the principles of pricing on gold and other precious metals taking into account the prices which developed in the world market;

find necessary resources for timely calculations for the gold and other precious metals arriving in Gokhran, and also implementation of preferential crediting of the companies and organizations in the part connected with conversion and realization of gold, other precious metals and jewelry from them;

determine procedure for issue of licenses according to Item 3 of this Decree;

approve in coordination with relevant organs of public administration of the republic feasibility statements on geological search and investigation of gold, other precious metals and operation of fields, and also to approve issue of permissions to production of the specified works.

5. Ceased to be valid according to the Presidential decree of the Republic Kyrgyzstan of 15.10.1992 No. 300

6. To the Ministry of Justice of the Republic Kyrgyzstan till January 15, 1992 to prepare the offers on modification and amendments in the legislation of the Republic Kyrgyzstan following from this Decree.

7. The decree becomes effective from the date of its publication.


Republics Kyrgyzstan A. Akayev


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