Article 5. Implementation of State Regulation in the Sphere of Circulation of Precious Metals and Precious Stones

State regulation in the sphere of circulation of precious metals and precious stones shall be carried out through:

issuance of permits for the right to use subsoil plots for the extraction of precious metals and precious stones;

licensing activities for the refining of precious metals;

implementation of the priority right to purchase mined precious metals and precious stones for the State Fund of Precious Metals and Precious Stones of the Republic of Uzbekistan, as well as the formation and replenishment of the assets of the Central Bank of the Republic of Uzbekistan in precious metals;

establishing requirements for accounting, storage, transportation of precious metals and precious stones and reporting on them, as well as a unified procedure for carrying out transactions with precious metals and precious stones;

normative legal regulation of the actions of business entities carrying out operations with precious metals and precious stones;

carrying out by authorized state bodies of control over geological study and exploration of subsoil plots, extraction of precious metals and precious stones;

carrying out by the authorized state body of assay control over the production, use and sale of precious metals and precious stones;

determining the procedure for importing into the territory of the Republic of Uzbekistan and exporting from its territory precious metals and precious stones;

conducting state control over the activities of refineries;

establishment of state control over the assaying and hallmarking of jewelry and other products made of precious metals and precious stones.