Decree No. 96 / 1946 Coll.
Decree published by the National Bank of Czechoslovakia on the treatment of precious metals
Valid
Effective from 15.05.1946
96.
Decree of the Minister of Finance
of 3 May 1946
publishing the measure of the Czechoslovak National Bank on the management of precious metals.
According to Section 27, paragraph 6 of the Act of 11 April 1946, No 92 Coll., on the Bound Foreign Exchange Economy (Foreign Exchange Act), I declare the attached measure of the Czechoslovak National Bank of 2 May 1946. The measure shall take effect on the day of its publication.
Dr. Šrobár v. r.
Measures
Czechoslovak National Banks
dealing with precious metals.
According to § § 8, 16 and 26 of the Foreign Exchange Act, the National Bank of Czechoslovakia provides:
Devis landlords are required to carry the National Bank within 10 days of the acquisition of precious metal, i.e. gold, silver, platinum, palladium, ruthenium, rhodium, iridium and osmium in an unprocessed state (alloys, sheets, rods, garnets, wire, broken pieces, old gold, silver and platinum, i.e. articles of precious metal, in which only the contents of precious metal, waste and the like are assessed, in a state of purity or in a mixture, or in an alloy with other metals), as well as gold and silver coins taken out of circulation or unfit, coins of precious metal, and gold medals, unless they are exempt from the water obligation under the provisions of this measure. The payment shall be made directly to the National Bank, through a foreign exchange bank or through a person authorised under Article 3.
(1) The levy is not subject to:
(a) precious metals in fractions, including old gold, silver and platinum, if they originate from articles which served the appropriate personal needs of their owners and are in their possession;
(b) gold coins taken from circulation, commercial coins, festive coins and gold medals which have the value of collectors, or for their holders the value of monuments; and
(c) silver coins taken from circulation and silver coins commercial and festive.
(2) The national bank will determine in dubious cases whether precious metals are exempted from the levy or not.
(3) The provisions on the extraction, acquisition, disposal and cessation of precious metals do not apply to mixtures and alloys, provided that they contain less than 10% pure silver or less than 1% other pure precious metal.
(4) Precious metals which are exempt from the levy provided for in paragraph 1 may be treated without authorisation by the National Bank only in accordance with the provisions of this measure.
(5) The values referred to in paragraph 1 may be sold only to the National Bank, the foreign exchange bank or the person authorised under Article 3, and shall be used for coins and medals of the value of collectors, traders, as referred to in Article 4.
(1) Persons receiving a general authorisation from the National Bank to acquire precious metals under Paragraph 16 of the Foreign Exchange Act (hereinafter referred to as the "authorised persons") are required to register immediately after the acquisition of precious metal by any means acquired in the "register of precious metals." A copy of this register shall be submitted to the National Bank at the same time as the report referred to in paragraph 2.
(2) The persons entitled to the precious metals need not be transferred to the National Bank if the National Bank does not invite them to the levy, but are obliged to submit a "precious metal status report 'for the past calendar quarter at the latest by 15 January, 15 April, 15 July and 15 October. The national bank may require individual beneficiaries to report within other time limits.
(3) The National Bank sets out the way in which the "register of precious metals" and the form and content of "reporting of precious metal status" by means of directives through interest corporations.
(4) Persons entitled to treat precious metals only for the purpose for which they are allocated or released by the National Bank, except for the sale of coins to coin traders.
(1) Coin traders who have a special (numismatic) authorisation of the National Bank may acquire gold and silver non-circulation coins and gold medals which are not in circulation if they are of collecting value and may resell them under that authorisation. The Devis landlords may, without permission, dispose of or acquire from such coins and medals to these coin traders.
(2) The traders referred to in paragraph 1 shall submit to the National Bank, within the time limits referred to in Article 3 (2), statements of purchases and sales of gold coins and medals under its directives.
For the supply of broken precious metal, including old gold, silver and platinum (Article 2 (1) (a)) by the consumer from which the goods or articles of precious metal are to be manufactured for him, no National Bank authorisation is required. Surpluses resulting from the processing of precious metals so supplied may be processed by the entrepreneur within the scope of his trade or other authorisation.
Without the permission of the National Bank, gold and silver coins which are not in circulation and gold medals exempt from the levy (Article 2 (1)) may be donated to foreign exchange residents on family and festive occasions and may be freely purchased in the event of death.
Without the permission of the National Bank, they may not be auctioned or sold of precious metals or otherwise acquired in the auctions and official free-hand sales.
Without the permission of the National Bank, it shall be permitted to stop at the rental companies of precious metals provided that they are exempt from the levy provided for in Article 2 or are held by persons authorised under Article 3 or 4.
(1) The National Bank reserves the direct purchase of precious metals extracted and produced domestically from extractors and producers.
(2) Those who extract precious metals or produce them shall notify the National Bank of their name and address (registered office) within 10 days of the start of the extraction, production or within 30 days of the publication of this measure, if they mine or acquire precious metals on the day of the publication of this measure.
(3) Expensive metals extracted or produced in a single month shall be reported to the National Bank by the 10th day of next month at the latest. The national bank shall decide whether these metals are to be taken from it or to the places it shall determine, or how they shall be dealt with.
The permits granted to deal with precious metals in the countries of the Czech and Moravian-Silesian Supervisory Authority at the former Ministry of Economy and Labour or the Ministry of Industry and in Slovakia by the former Ministry of Finance are still valid for 3 months after the publication of this measure, if the person still authorised to apply to the National Bank for a new authorisation within 30 days after the publication of this measure.
Done at Prague, 2 May 1946.
National Bank of Czechoslovakia
Dr. Heavens v. r.
Dr Chmela v. r.
Oliva v. r.
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Regulation Information
| Citation | Decree No. 96 / 1946 Coll., which publishes the measures of the Czechoslovak National Bank on the treatment of precious metals |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 15.05.1946 |
|---|---|
| Effective from | 15.05.1946 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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