Senators reject the Law on precious metals and precious stones
21/10/2020 12:30
Senators reject the Law on precious metals and precious stones
21/10/2020 12:30
Tashkent, Uzbekistan (UzDaily.com) -- During the eighth plenary session of the Senate of the Oliy Majlis, the Law of the Republic of Uzbekistan "On precious metals and precious stones" was considered.
It was noted that the Law was prepared on the basis of the Decree of the President of the Republic of Uzbekistan from 18 May 2019 "On measures for the accelerated development of the jewelry industry in the Republic of Uzbekistan."
It was noted at the meeting that during the consideration of this Law by the Senate Committee, specialists and experts of the relevant ministries and departments, it was revealed that some articles of the Law did not meet the requirements.
In particular, it was emphasized that the fifth paragraph of Article 12 and the sixth paragraph of Article 25 of the Law should be brought in line with Article 5 of the Law of the Republic of Uzbekistan "On Banks and Banking Activities".
It was noted that in order to reduce government interference in the activities of enterprises engaged in the industrial extraction of precious metals, it is necessary to revise the norms of the relevant articles of the Law and bring the requirements of Article 15 in line with the norms of the current legislation.
In addition, the need was emphasized to bring the norm envisaged in part five of Article 22 of the Law in accordance with the requirements of the Decree of the President of the Republic of Uzbekistan No. 6044 from 24 August 2020, that is, the requirement that activities in this direction are not included in the licensed type of activity.
Senators passed a resolution to reject this Law.
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