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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 11, 2003 No. 771

About approval of the Regulations on the State fund of precious metals and gemstones of the Kyrgyz Republic

(as amended of the Order of the Government of the Kyrgyz Republic of 16.01.2016 No. 19)

According to the Law of the Kyrgyz Republic "About precious metals and gemstones" the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on the State fund of precious metals and gemstones of the Kyrgyz Republic.

2. To the Ministry of Finance of the Kyrgyz Republic annually to provide in the republican budget of means for replenishment of values of the State fund of precious metals and gemstones of the Kyrgyz Republic.

3. Declare invalid the order of the Government of the Kyrgyz Republic of July 15, 1997 No. 413 "About approval of the Regulations on the State fund of precious metals and gemstones of the Kyrgyz Republic".

4. To impose control over the implementation of this resolution on department of fuel and energy complex and mining industry of the Office of the Prime Minister of the Kyrgyz Republic.

Prime Minister

N. Tanayev

Approved by the Order of the Government of the Kyrgyz Republic of December 11, 2003 No. 771

Regulations on the State fund of precious metals and gemstones of the Kyrgyz Republic

I. General provisions

1.1. This Provision is developed according to the Law of the Kyrgyz Republic "About precious metals and gemstones" and determines procedure for forming of the State fund of precious metals and gemstones of the Kyrgyz Republic (further - State fund) and its functioning in the territory of the Kyrgyz Republic.

1.2. The state fund constitutes part of gold and foreign exchange reserves of the Kyrgyz Republic and represents set of precious metals, gemstones, and also products from them (further hereinafter are referred to as - values) received from the sources given in Item 2.2. this provision.

1.3. The state fund is intended for ensuring production, financial, scientific, welfare and other needs of the Kyrgyz Republic. The values enlisted in State fund are state-owned property.

1.4. In this Provision the following concepts are used:

precious metals - gold, silver, platinum and metals of platinum group (palladium, rhodium, iridium, ruthenium and osmium). Precious metals can be in any condition, type, including in affined, in semifinished products, industrial products, chemical compounds, jewelry and other products, coins, scrap and consumer wastes;

gemstones - natural diamonds, emeralds, rubies, sapphires and alexandrite, and also natural pearls in the processed type. Gemstones can be in devices, the equipment, tools, products of technical appointment, and also in jewelry, household products;

refining of precious metals - process of purification of the extracted precious metals of impurity and the accompanying components, finishing them to the quality conforming to the state standards and specifications operating in the territory of the Kyrgyz Republic and (or) international standards on the affined precious metals;

the state storage of values (Gokhran) - the state company performing storage of values of State fund and also on contractual relations storage of precious metals, the gemstones belonging to legal entities;

subjects of the market of precious metals and gemstones - the companies extracting, processing precious metals, gemstones; refineries; authorized commercial banks; other business entities and business owners registered in accordance with the established procedure;

subjects of production - the legal entities and physical persons performing development of the fields of precious metals.

II. Procedure for forming of State fund

2.1. Decisions on forming of State fund are made by the President of the Kyrgyz Republic and the Government of the Kyrgyz Republic.

2.2. The state fund is created and replenished for the account:

- the precious metals and gemstones acquired at subjects of the market of precious metals and gemstones at the expense of means of the republican budget;

- unique nuggets of the precious metals acquired at subjects of precious metals mining at the expense of means of the republican budget;

- products from the precious metals and gemstones acquired at the expense of means of the republican budget at the organizations performing buying up;

- precious metals and gemstones, products from them and their scrap, bought up at the expense of means of the republican budget at the population;

- highly artistic jewelry and other products from the precious metals, gemstones which are of historical, antiquarian, great material value, made or acquired at the expense of means of the republican budget;

- precious metals, gemstones, products from them and their scrap, compulsorily withdrawn in the procedure established by the law;

- precious metals, gemstones, products from them and their scrap, recognized in the procedure established by the law as ownerless;

- precious metals, gemstones, products from them and their scrap, transferred to the state on inheritance right and donations;

- treasures of precious metals, gemstones, products from them and their scrap;

- made of precious metals and gemstones of the state awards of the former USSR which are handed over by the relevant structures of state bodies of the Kyrgyz Republic;

- made of precious metals, gemstones of the products received as a gift by citizens of the Kyrgyz Republic in connection with the state activities performed by them;

- precious metals and gemstones, and also products from them enlisted in State fund for other bases established by the legislation of the Kyrgyz Republic.

2.3. The means provided on acquisition of values of State fund are subject to obligatory accounting in account part of the republican budget.

2.4. The department of precious metals under the Ministry of Finance of the Kyrgyz Republic submits in the Ministry of Finance of the Kyrgyz Republic the report on replenishment and expenditure for financial year of values of State fund and about use of means of the republican budget, and also bears responsibility for safety of values of State fund.

III. Procedure for acceptance, storage and accounting of values of State fund

3.1. Values of State fund are stored in the State storage of values (further - Gokhran) Department of precious metals under the Ministry of Finance of the Kyrgyz Republic.

3.2. The employees of Gokhran performing acceptance, storage, accounting, sorting, issue, transportation of values of State fund bear financial responsibility according to the current legislation.

3.3. Operational and financial accounting of values of State fund is performed by Department of precious metals under the Ministry of Finance of the Kyrgyz Republic according to the approved rules of accounting.

3.4. All transactions with values of State fund are drawn up by accounting documents of the established forms.

3.5. The values arriving in State fund are subject to placement in accounting documents on sources, the nomenclature of accounts, sorting and resorting by the nature of precious metals and gemstones.

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