Lukashenko signed law on precious metals and stones
Head of State Aleksandr Lukashenko signed the law On Amendments to the Law of the Republic of Belarus On Precious Metals and Precious Stones on December 6th, sb.by reports with reference to the Belarusian leader’s press service
The document brings the legislation into line with the agreement on the specifics of operations with precious metals and precious stones within the Eurasian Economic Union.
The law, in particular, envisages systematic changes to the existing definitions and the introduction of new terms in accordance with the agreement. The National Bank is entitled to establish requirements for the accounting and storage of precious metals and precious stones when conducting banking operations with them.
The Government, together with the National Bank, has the right to determine the procedure for transactions and settlements with measuring bars produced in the Republic of Belarus, with precious stones (diamonds).
It is also envisaged to expand the powers of the Finance Ministry. This concerns the regulation of prices and the establishment of tariffs for services dealing with the purchase of precious metals and precious stones from citizens; rulemaking to regulate such activities as acceptance, processing of scrap and waste of precious metals, refining of precious metals; control and supervision in areas related to precious metals and precious stones.
The law also establishes the conditions for the sale of precious stones by legal entities, credit and financial organisations, individual entrepreneurs to citizens: they should be cut and have a special packaging, the integrity of which is not violated, and there should be also a certificate (passport) certifying the quality and weight characteristics for each gemstone.
