Regulation 73/QD-KHKT 1994 on conditions for foreign and Vietnamese economic organizations, individuals to exploit precious stone

REGULATION

ON NECESSARY CONDITIONS FOR FOREIGN AND VIETNAMESE ECONOMIC ORGANIZATIONS, INDIVIDUALS TO EXPLOIT PRECIOUS STONE

MINISTRY OF HEAVY INDUSTRY

- Based on the Ordinance dated July 28th, 1989 regarding natural resources of minerals;

- Based on the "Management regulation of activities on geology investigating, mining, precious stone processing and trading" promulgated in accompanying of Decree No 67/CP dated October 7th, 1993 of the Government;

- Hereby regulates the necessary conditions for foreign and Vietnamese economic organizations, individuals to be allowed to exploit precious stone as follows:

Article 1.

Vietnamese economic organizations, individuals which want to exploit precious stone before attending a bids (in areas which the State organizes bid) or to be allowed to exploit in "special" for areas as regulated in Art. 15 of Decree No 67/CP,shall have the following conditions :

1. Having the minerals exploiting license granted by Ministry of Heavy Industry

2. To be allowed by the Prime Minister as per Art. 2 of the Regulation promulgated in accompanying of Decree No 67/CP dated November 7th, 1993.

3. Financial capacity : as regulated concretely according to the company Law, Private Enterprise Law and Decree no 221/HDBT, No 222/HDBT dated July 23rd, 1991 of the Council of Ministers (now is Government) regarding the implementation of the above laws.

4. Professional ability : having professional staff that trained and skilled in mining geology.

Article 2.

Foreign economic organizations, individuals which want to exploit precious stone, shall have the following conditions (before attending a bid).

1. Having project and approved by the Prime Minister according to Decision N0 366/HDBT dated November 7th, 1991 regulating with foreign investment capital.

2. Professional ability : As regulated in item 1.4.

Article 3.

This Regulation comes into force identically in whole country form the date of signing