N e w s

On November 11, 2002 the committee of the State Duma of credit organisations and financial markets turned down the bill of the State Assembly of Sakha Republic.

According to the bill, precious metals and gemstones withdrawn from circulation or received as a result of illegal mining and production are to be transferred equally to the State fund of precious metals and gemstones of Russian Federation and to the local state funds of Russia's subjects where the withdrawal has taken place. Valeriy Zubov, the Chairman of the committee expressed the opinion that this bill did not contain financial and economic basis, and it served the reason for its rejection.