ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of December 26, 2014 No. 170n

About procedure for holding open auctions for the purpose of domestic sale from State fund of Russia of precious metals, gemstones, except for diamonds the mass of 10,8 of carat and more, and products from them

According to Item 32 of the Regulations on the State fund of precious metals and gemstones of the Russian Federation approved by the order of the Government of the Russian Federation of February 27, 2003 No. 127 "About approval of the Regulations on the State fund of precious metals and gemstones of the Russian Federation" (The Russian Federation Code, 2003, No. 9, Art. 866; 2014, to No. 46, of the Art. 6355), I order:

1. Approve the enclosed Procedure for holding open auctions for the purpose of domestic sale from State fund of Russia of precious metals, gemstones, except for diamonds by the mass of 10,8 of carat and more, and products from them.

2. Declare invalid the order of the Ministry of Finance of the Russian Federation of April 18, 2003 No. 35n "About the Procedure for holding auctions for the purpose of domestic sale from State fund of Russia of products from precious metals and gemstones (or with their content), and also nuggets of precious metals" (registration number 4555 is registered in the Ministry of Justice of the Russian Federation on May 19, 2003; Bulletin of regulations of federal executive bodies, 2003, No. 31).

Approved by the Order of the Ministry of Finance of the Russian Federation of December 26, 2014, No. 170n

Procedure for holding open auctions for the purpose of domestic sale from State fund of Russia of precious metals, gemstones, except for diamonds the mass of 10,8 of carat and more, and products from them

I. General provisions

1. This Procedure determines the procedure of holding open auctions (further - auction) by domestic sale of precious metals in the affined type, nuggets of precious metals, natural diamonds in the raw and partially processed type (except for diamonds mass 10, of carat and more), natural diamonds in the processed type (diamonds), other natural gemstones in the processed and raw type, and also jewelry and other products from precious metals and (or) gemstones, except for the cultural values and products having historical, scientific and art value (further - values), from the State fund of precious metals and gemstones of the Russian Federation.

2. Subject of auction is the right to the conclusion of the purchase and sale agreement of values of State fund of Russia. Values of State fund of Russia are implemented at auction by lots created by each type of values.

3. The Ministry of Finance of the Russian Federation acts as the organizer of auction (further - the organizer).

4. Organizer:

a) will organize preparation and the publication of information on holding the auction (further - the notice), and also changes in the notice;

b) determines the place, date and time of the beginning and the end of submission of auction participation applications (further - the request);

c) determines the place, date and time of holding the auction;

d) will organize preparation and the publication of information on results of auction, recognition of auction cancelled and cancellation of its carrying out;

e) makes the decision on creation of the auction commission and approves its structure;

e) performs other, connected with holding the auction, functions.

5. The federal state institution "Public Institution on Forming of the State Fund of Precious Metals and Gemstones of the Russian Federation, Storage, Leave and Use of Precious Metals and Gemstones (Gokhran of Russia) under the Ministry of Finance of the Russian Federation" acts as the seller of values of State fund of Russia (further - the seller).

6. The seller performs:

a) acceptance and registration of requests and the documents attached to them according to Items 19 and 20 of this Procedure, storage of the registered requests and documents attached to them;

and. 1) the organization and carrying out viewings of lots of values of State fund of Russia intended to sale;

b) organizational and technical supply of activities of the auction commission;

c) determination of amount of deposit and size of increase in starting price of lot (further - auction "step") on each lot in the fixed size, and also agreement signature about deposit;

d) the conclusion of the purchase and sale agreement of values of State fund of Russia by results of auction.

7. For participation in auction the organizations and the individual entrepreneurs who submitted the applications conforming to the requirements provided by this Procedure are allowed (further - applicants).

8. In case of holding the auction it is not allowed:

a) creation of preferential conditions, including provision of access to confidential information, for participation in auction of the certain participant;

b) implementation by the organizer of coordination of activities of participants of auction as a result of which restriction of the competition between participants or infringement of their interests takes or can take place;

c) violation of procedure for determination of the winner or winners of auction;

d) unreasonable restriction of access to participation in auction;

e) participation of the organizer and (or) workers of the organizer, and also the seller and (or) workers of the seller in auction.

II. Auction commission

9. The auction commission (further - the commission) is created by the organizer, acts on the permanent basis and consists of the chairman, the vice-chairman, the secretary of the commission and other members of the commission.

The commission chairman directs activities of the commission, determines date of meeting, holds commission sessions and exercises control of execution of the decisions made by the commission. In the absence of the commission chairman its functions are performed by the vice-chairman of the commission.

10. Persons, personally (directly or indirectly) interested in results of auction, including person cannot be members of the commission:

a) the submitted applications or which are on the staff of the organizations and individual entrepreneurs who submitted applications;

b) being affiliates of the organizations and individual entrepreneurs who submitted applications including members (shareholders) of the organizations, members of their governing bodies and their creditors;

c) being relatives of the participant of auction or its representative;

d) being or earlier being in job or other dependency from the participant of auction or its representative.

In case of identification as a part of the commission of specified persons the organizer shall replace them with other persons without delay.

11. The basic principles of activities of the commission are:

a) creation of equal conditions for participation in auctions;

b) ensuring fair competition;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info