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LAW OF THE KYRGYZ REPUBLIC

of May 14, 1998 No. 61

About precious metals and gemstones

(as amended on 23-03-2020)

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on May 7, 1998

Section 1. General provisions

Article 1. Coverage of this Law

This Law acts on all territory of the Kyrgyz Republic and determines the basic concepts and conditions of carrying out transactions with precious metals, gemstones, and also the legal basis of state regulation and control of transactions with precious metals, gemstones.

The transactions connected with production and primary conversion of the ores containing precious metals and gemstones are regulated by the legislation on subsoil.

The transactions connected with use of precious metals as currency values are regulated by the foreign exchange legislation of the republic.

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

The legislation in the field of the address of precious metals and gemstones consists of the Constitution of the Kyrgyz Republic, this Law and other regulatory legal acts, and also come in the procedure established by the law into force of international treaties which participant is the Kyrgyz Republic, the precious metals and gemstones governing the relations in the field of the address.

Article 3. The concepts used in this Law

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, products, scrap and waste.

Gemstones, - natural diamonds, emeralds, rubies, sapphires in raw materials and (or) the processed type, alexandrite, and also natural pearls in the crude (natural) and processed type. Unique amber educations according to the procedure, established by the Government of the Kyrgyz Republic are equated to gemstones.

Nuggets - the natural large isolations of precious metals considerably exceeding in size the average sizes of particles of the same precious metal in mineral deposits.

Examination (identification) of gemstones - determination of high-quality and color, quantity and cost characteristics of gemstones according to qualifiers and price lists and taking into account the prices of the world market applied to implementation of the state control.

Refining of precious metals - process of purification of the extracted precious metals of impurity and the accompanying components, bringing precious metals to the quality conforming to international standards or standards of the Kyrgyz Republic.

Production of precious metals - extraction of precious metals from ores, concentrates and other industrial products, scrap and waste containing these metals, and their refining.

Use of precious metals and gemstones - their application for the production, scientific and welfare purposes and as currency assets.

Transactions with precious metals and gemstones - actions, connected:

- with transition of the property right and other rights to precious metals and gemstones;

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

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

- with import of precious metals, gemstones to the Kyrgyz Republic and their export from the republic.

Special accounting - the maintaining the register of the legal entities and individual entrepreneurs who are performing transactions with precious metals and gemstones, which is not assuming collection of collection for entering of specified persons into the register.

Authorized state body - the public institution given authority to represent the interests of the Government of the Kyrgyz Republic and to regulate the questions connected with transactions with precious metals, gemstones in the territory of the Kyrgyz Republic.

The state fund of precious metals, gemstones - the precious metals and gemstones enlisted in asset of the state and intended for ensuring the state production, scientific and welfare requirements.

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

The state inspection of assay supervision - the state body exercising assay supervision in the territory of the Kyrgyz Republic.

The treasure of precious metals and gemstones - the precious metals buried in the earth or hidden by different way, gemstones which owner by law lost on them the right or cannot be established.

Section II. State regulation of transactions with precious metals and gemstones

Article 4. The relations regulated by this Law

1. Government of the Kyrgyz Republic:

- provides carrying out single state policy in the field of the address of precious metals and gemstones;

- exercises the state control of transactions with precious metals and gemstones;

- determines procedure for approbation and branding of jewelry and other household products from precious metals.

Realization of powers of the Government of the Kyrgyz Republic in the field of the address of precious metals and gemstones is performed by authorized state body.

The regulations on authorized state body affirm the Government of the Kyrgyz Republic.

2. The state monopoly extends to the transactions connected with nuggets of precious metals, treasures of precious metals and gemstones, archeological finds.

3. Activities of authorized banks for transactions with precious metals and gemstones are regulated by National Bank of the Kyrgyz Republic in coordination with authorized state body.

Article 5. State fund of precious metals and gemstones

1. The state fund of precious metals and gemstones of the Kyrgyz Republic is exclusive property of the state and is in the State storage of values.

2. The state fund is created of the precious metals, gemstones, jewelry acquired at the expense of the means provided in the republican budget, and also confiscated, the ownerless, passed on inheritance right to the state, found in structure treasures and when carrying out archeological excavations of precious metals, gemstones, products from them and their scrap.

3. The evaluation procedure, acceptance, leave, calculations and realization of the values which are purchased in the State fund is established by the Government of the Kyrgyz Republic.

Article 6. State inventories of precious metals of the Kyrgyz Republic

1. The state inventories of precious metals of the Kyrgyz Republic consist of the precious metals belonging to the state being on balance of the state body authorized by the Government of the Kyrgyz Republic and are created by purchase of the affined precious metals and coins with their content.

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