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Better government control over precious metals, precious stones in Belarus

MINSK, 28 May (BelTA) – Government control over the turnover of precious metals and precious stones will be improved in Belarus. The information was released by Alexander Rimarovich, Head of the Regulatory Control Section of the Central Office for Precious Metals and Precious Stones of the Belarusian Finance Ministry, at the online conference hosted by the BelTA website on 28 May.

In his words, the parliament is getting ready to give the second reading to the new revision of the law on precious metals and precious stones. The bill stipulates key principles and standards for regulating relations in matters involving precious metals and precious stones. Goals and ways of state control as well as the authority of government agencies in this field have been stipulated, said the official.

Alexander Rimarovich underlined that the bill had incorporated international legislation norms, which are in effect in the Customs Union. Thus, Belarusian laws on precious metals and precious stones will be harmonized with Kazakh and Russian laws.

For the sake of ruling out illegal operations with precious metals and precious stones the bill has introduced some restrictions and prohibitions. In particular, natural persons cannot sell or buy nuggets of precious metals, state awards made of precious metals and stones.

Natural persons are allowed to gift precious metals, inherit them, collect coins made of precious metals, sell and buy jewelry and other consumer goods with the assay mark of Belarus or old products with the assay mark of the USSR, specified the Finance Ministry representative.

According to Alexander Rimarovich, the revision of the law has been necessitated by considerable changes witnessed in this area in recent years , the need to systematize the legislation, reduce the number of the legal acts that regulate relations in this sphere, and harmonize the Belarusian legislation with that of the Customs Union member states.