Article 23. Accounting and Storage of Precious Metals and Precious Stones

Precious metals and precious stones shall be subject to mandatory accounting during extraction, production, use and sale.

Legal entities with a state share in the authorized fund (authorized capital) in the amount of 50 percent or more shall carry out accounting and storage of precious metals and precious stones in the manner prescribed by legislation.

Legal entities that do not have a state share in the authorized fund (authorized capital) or with a state share of less than 50 percent, as well as individual entrepreneurs, shall carry out accounting and storage of precious metals and precious stones on the basis of independently developed technical documentation for working with precious metals and precious stones.

Accounting and storage of precious metals and precious stones should be organized in such a way that they do not violate the economic interests of the Republic of Uzbekistan, the rights of producers and consumers of products (items) from precious metals and precious stones.

Accounting and storage of precious metals and precious stones shall be organized by name (type), weight (in grams, carats) and quality (by sample, content).

Refined precious metals, precious metals (nuggets) not subject to refining, and precious stones shall be subject to registration with their owners and come into circulation in accordance with this Law.

Legal entities that have discovered precious metals and precious stones as a result of a geological study of the subsoil shall take them into account in the manner established by the State Committee of the Republic of Uzbekistan for Geology and Mineral Resources.