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The necessity of amending the legal act is conditioned by the logic of identifying and correcting certain inconsistencies in the current law, which will enable the RA Market Surveillance Inspection Body to carry out effective administration. The RA Minister of Economy Gevorg Papoyan said this during the RA NA regular sitting on December 3.

The draft law on Making Amendments and Addenda to the law on Precious Metals was debated in the first reading.

It has been proposed to establish that items made of precious metals produced in Armenia or imported into Armenia under the ‘Release for domestic consumption’ customs procedure must be hallmarked, stamped, and have an appropriate distinguishing mark and denomination. The goal of the legislative initiative is to implement effective surveillance, as well as to perfectly maintain the consumers’ rights.

The member of the Standing Committee on Economic Affairs Davit Arushanyan presented the endorsement of the Head Committee on the draft.