LAW OF THE AZERBAIJAN REPUBLIC

of June 10, 2005 No. 924-IIQ

About precious metals and gemstones

This law governs the relations connected with production, processing, use and the address of precious metals and gemstones.

Chapter I. General provisions

Article 1. The basic concepts used in this Law

1.1. In this Law the following basic concepts are used:

1.1.1. precious metals - gold, silver, platinum and metals of platinum group (palladium, iridium, osmium, rhodium and ruthenium) which are in any kind and condition, including in native and affined (in enriched, cleared) type, and also in raw materials, alloys, semifinished products, industrial products, chemical compounds, jewelry, coins, scrap, waste;

1.1.2. gemstones - the processed and rough natural diamonds, emeralds, rubies, sapphires and alexandrite;

1.1.3. products from precious metals and gemstones - the art and esthetic jewelry and other household products used for the household purposes with decorating from precious metals and their alloys with non-ferrous metals, gemstones decorated or which are not decorated with specially processed gemstones or semiprecious stones;

1.1.4. scrap and waste of precious metals and gemstones - the parts of precious metals and gemstones which are broken off from the main part as a result of physical, chemical, mechanical or other impact and which, as a rule, cannot be used for their primary designated purpose;

1.1.5. bank metals - nuggets (standard and measuring ingots) the precious metals purified (affined) to international standards of high test and having the quality certificate, coins from precious metals released by the Azerbaijan Republic and other states and which can be on sale at the price other than nominal value;

1.1.6. sorting and primary classification of gemstones - stage of process of allocation of the extracted mineral raw materials of gemstones based on the approved collections of samples and qualifiers, and also stage of process of their enrichment providing their separation into the grades accepted in the world market;

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