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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 9, 2002 No. 834

About measures for market development of precious metals in the territory of the Kyrgyz Republic

(as amended on 27-06-2018)

For the purpose of creation and market development of precious metals in the Kyrgyz Republic, and also according to the laws of the Kyrgyz Republic "About precious metals and gemstones" and "About foreign currency transactions" the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on transactions of purchase and sale of measuring, standard and non-standard ingots of precious metals.

2. To the Ministry of Finance of the Kyrgyz Republic together with National Bank of the Kyrgyz Republic, and also with the interested ministries, the state committees, administrative departments and state commissions of the Kyrgyz Republic to provide to the Government of the Kyrgyz Republic of the offer on modification and amendments in earlier adopted regulatory legal acts in connection with adoption of this resolution in a month.

3. 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 9, 2002 No. 834

Regulations on transactions of purchase and sale of measuring, standard and non-standard ingots of precious metals

1. This Provision is developed on the basis of the Law of the Kyrgyz Republic "About precious metals and gemstones" and governs the relations connected with purchase and sale of measuring ingots of precious metals (1000, 500 g, 250 g, 100 g, 50 g, the 10th tolite (1 tolite = 11,6638 of), etc.), standard ingots of precious metals (for gold - 886,23 of weighing from 10 to 13 374,51 g, for silver - 327,63 of weighing from 23 to 34 213,85 g) and non-standard ingots of precious metals (in the form of cores, granules, plates, wire and other form and/or weight other than standard and measuring ingots) at primary biddings in the territory of the Kyrgyz Republic.

2. Subject of transactions of purchase and sale are the Associations of the London market of measuring, standard and non-standard ingots (LBMA) conforming to requirements and standards of the Kyrgyz Republic measuring, standard and non-standard ingots from gold, silver, platinum and metals of platinum group (further hereinafter are referred to as - measuring, standard and non-standard ingots).

Ingots of precious metals are standard, measuring and non-standard ingots of the affined precious metals of the Kyrgyz or foreign production.

Standard and measuring ingots of precious metals are the ingots of the affined precious metals corresponding in form, the sizes and tests to international standards of quality.

Non-standard ingots of precious metals are ingots of the affined precious metals of any form and the sizes (cores, granules, plates, wire and other), other than form and the sizes of standard and measuring ingots of precious metals.

3. Except Department of precious metals under the Ministry of Finance of the Kyrgyz Republic and National Bank of the Kyrgyz Republic, can be participants of the market of precious metals on transactions with measuring, standard and non-standard ingots in the territory of the Kyrgyz Republic:

- commercial banks;

- subsoil users - the legal entities and physical persons performing business activity according to the legislation of the Kyrgyz Republic and owning licenses for production of mineral raw materials;

- industrial consumers - the legal entities and physical persons performing business activity according to the legislation of the Kyrgyz Republic, using precious metals for production of the products including jewelry and semifinished products;

- other legal entities and physical persons.

4. Ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 27.06.2018 No. 303

5. Participants of the market of precious metals shall provide to citizens open entry to information by advertizing in mass media, and also daily quotations of cost of purchase sale of measuring, standard and non-standard ingots before purchase and sale Items.

Information shall be complete and include data:

- about types of the measuring, standard and non-standard ingots which are in use in the territory of the Kyrgyz Republic;

- about the range of the ingots provided to sale;

- about the cost of purchase and sale of measuring, standard and non-standard ingots;

- rather complete liquidity of measuring, standard and non-standard ingots - possibilities of repurchasing by participants of the market;

- concerning export from the country and import to the country of the acquired measuring, standard and non-standard ingots and other necessary information.

6. All transactions connected with purchase and sale of measuring, standard and non-standard ingots shall be made in the presence of the person buying or selling measuring, standard and non-standard ingots.

The arrangement of scales shall provide to the persons buying or selling ingots, possibility of visual inspection behind results of weighing.

The monetary commitments arising in case of transactions with measuring, standard and non-standard ingots shall be expressed and paid in national currency of the Kyrgyz Republic.

7. Weighing in the course of production and realization of measuring, standard and non-standard ingots is made on the scales providing the set accuracy of measurements in the rooms equipped according to job requirements on analytical scales.

Weighing of measuring ingots from gold and platinum is made to within gram 0,001.

Nominal rate of mass of measuring ingot - the value of weight attributed to ingot and caused on ingot surface when marking.

The variation of mass of measuring ingot from nominal rate - the size determined by difference between the actual mass of ingot and its nominal rate of weight which is accepted by Association of the London market of measuring ingots and corresponds:

The variation of mass of measuring ingot from nominal rate - the size determined by difference between the actual mass of ingot and its nominal rate of weight which is accepted by Association of the London market of measuring ingots and corresponds:

 

Nominal weight of measuring ingots

Mass fraction of gold in %

Content of pure gold in ingot

The minimum actual mass of measuring ingots according to requirements of LBMA, in grams

in troy ounces

in grams

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