Article 10. Refining of scrap and waste of precious metals converted into State ownership on separate grounds of the Law on Precious Metals and Precious Stones

Home / RLA / Article 10. Refining of scrap and waste of precious metals converted into State ownership on separate grounds of the Law on Precious Metals and Precious Stones

1. Scrap and waste of precious metals, converted into state ownership on separate grounds and accepted by the National Bank of the Republic of Kazakhstan in accordance with the procedure provided for by the legislation of the Republic of Kazakhstan, are subject to refining with the crediting of refined gold ingots to the assets of the National Bank of the Republic of Kazakhstan in precious metals.

2. The procedure for the transfer of scrap and waste of precious metals, converted into state ownership on separate grounds, into refined gold bars and receiving them after refining is determined by the National Bank of the Republic of Kazakhstan.

3. The cost of refined gold bars specified in paragraph 1 of this Article shall be transferred to the budget after deducting the costs associated with the processing of scrap and waste of precious metals.

The Law of the Republic of Kazakhstan dated January 14, 2016 No. 444-V SAM.

This Law regulates public relations arising in the sphere of production of precious metals and turnover of precious metals and precious stones, raw materials containing precious metals, jewelry and other products made of precious metals and precious stones.

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