Preventing trading in precious metals unless they are registered with a government entity

Translated by Ayaa shabeb

Dr. Ali Al-Moselhi, Minister of Supply and Internal Trade, decided to prohibit the practice of trade, export or import in the field of precious metals or gemstones except after registering with the Jewelery Hallmark and Weights Authority on the form prepared for this purpose by the Authority for every natural or legal person.

The Egyptian Gazette, the Official Gazette Supplement, published in its issue issued this morning the Minister of Supply’s decision No. 149 of 2023.

The Minister of Supply and Internal Trade obligated the applicant to submit a copy of the commercial registry, his tax card, a statement of the main headquarters and its branches, the trademark, if any, and the details of the responsible director.

The Minister of Supply obligated those addressed by the provisions of this decision to notify the Stamping and Weights Authority of any change or amendment to the data registered with it within thirty days from the date of its occurrence. The request to amend the data shall be submitted on the form prepared for this purpose by the Authority, and the official documents proving this shall be attached to it. Make adjustments.

The decision included granting those addressed to the provisions of this decision a period of six months, starting from the effective date of the provisions of this decision, to register with the Authority.

The decision included punishing anyone who violates its provisions with the penalties stipulated in Article 26 of Law No. 68 of 1976, and the penalties and penalties stipulated in the Anti-Money Laundering Law are also applied.

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