Statement: Provv. UIC 4.07.200

UIC decision of 14 July 2000
(Published in the Official Gazette no. 182 of 5 August 2000)
Determination of the content and methods of carrying out the declarations of gold transactions and communications of the parties who trade in gold on a professional basis provided by law 17 January 2000, n. 7.


CONSIDERING Law 17 January 2000 laying down 7 new discipline of the gold market;

VISAS, in particular, Article 1, paragraph 2, which establishes the obligation to declare to the Italian foreign exchange transactions involving gold, Article 1, paragraph 6, which stipulates that the Office Italian Foreign Exchange defines the contents and the making of such statements, Article 1, paragraph 3, in which it is established that the exercise of professional gold trading can be done by banks and, upon notice to the Office of the Italian changes, by persons in possession of certain requirements, and Article 5, paragraphs 1 and 2, where there is a transitional arrangement for entities authorized under Article 15 of Presidential Decree of 31 March 1988, 148 ;


The following implementing provisions:

Article 1

1. In these provisions shall apply:

  • "Law", the Law January 17, 2000, 7;
  • Office, "the Italian Foreign Exchange Office;
  • gold, "the one referred to in Article 1, paragraph 1, of the Law;
  • professionals, "subjects who carry on a professional gold trading on behalf of third parties, in accordance with Article 1, paragraph 3, and Article 5, paragraphs 1 and 2 of Law;
  • financial intermediaries ", the persons referred to in Article 2 of the Law;
  • identification data ", the name and surname, date and place of birth, address, social security number and the details of identification document or, in the case of entities other than natural person, the name, registered office and the tax code.

Article 2
Obligation to declare transactions in gold

1. The disclosure obligation provided for in Article 1, paragraph 2, of the Law includes the following:

  • the sale, loan use, the transfer under warranty and any other non-financial transaction in gold;
  • the physical delivery of gold in carrying out financial transactions on gold;
  • the transfer of gold in tow to or from foreign countries, outside of cases of execution of the operations in letters a) and b).

2. For the operations described in subparagraph a) of paragraph 1, the declaration must be made by the seller, by the entity that grants the loan, the guarantor or by the person who in any way the assignor becomes gold. In the case of transactions with foreign countries, the declaration must be made by the resident. For the operations referred to in point b) of paragraph 1, financial intermediaries make the statement for the gold physically delivered or received. For the operations referred to in point c) of paragraph 1, the declaration must be made by those in possession of gold.

3. The obligation of the declaration lies with the banks or to professionals for the operations of which they are parties.

4. For the operations performed using a bank or a professional declarer has the power to make the declaration delivering, within the period specified in Article 3 of this provision, the bank or the professional operator who shall without delay to the transmission to ' Office.

Article 3
Content and form of declaration

1. The declaration must contain:

  • the identification data of the registrant;
  • the identification data of the counterparty;
  • the date, type of operation, the quantity of gold in grams and its value.

2. The declaration must be made using Annex A, which is an integral part hereof. It must be delivered to a bank or must be sent to the Office by registered letter with return receipt requested, or similar means postal direct delivery.

3. Outside of the cases provided for in the following paragraph, the declaration, duly completed and signed, must be sent to the Office by the end of the month following the month in which the transaction was carried out. The operations of the same kind carried out with the same counterparty in a month shall be the subject of a single statement in which shall be shown the number of transactions, the total amount of gold traded and its value.

4. In the cases of transfers to foreign countries to follow the declaration must be made and submitted to the Office prior to conversion. A copy of the declaration and the document attesting to the successful transmission of the Office must accompany the gold.

5. Registrants retain for ten years copies of the communications transmitted and documentation used in their preparation.

Article 4
Transactions exempt from the registration requirement

Not the subject of the statement:

  • transactions in which they are part of the Bank of Italy or the Office;
  • the transactions mentioned in Article 2, paragraph 1, letters a) and b) of this provision, in cases where they are put in place between banks and Italian banks or between banks and brokers and Italian banks or branches located abroad.

Article 5
Communication Office

1. Persons subject to the disclosure obligations to the Office for the year on a professional trade of gold, according to Article 1, paragraph 3, and Article 5, paragraphs 1 and 2 of the Act, must make use of ' Annex B forms an integral part hereof. Communications, written in all their parts and signed by the legal representative and the chairman of the supervisory board, attest to the senses and for the effects of the decree of the President of the Republic October 20, 1998, n. 403, that the requirements laid down in Article 1, paragraph 3, of the Law.

2. Individuals who fulfill the conditions set out in paragraphs 1 and 2 of Article 5 of the Law must make the disclosures therein within thirty days after the entry into force of this regulation and, within the period specified therein, shall certify to the Office that the requirements set out in Article 1, paragraph 3, of the Law.

Article 6
Variations and request for information

1. The changes in the information provided pursuant to Article 5 of this measure should be forwarded to the Office by the end of the month following the month in which they are verified using Annex B.

2. The Office may require the recipients of this measure any further information in relation to the transactions referred to in Article 2, paragraph 1, as well as news, data and documents to verify compliance with the provisions contained in Articles 1 and 5 of the Act and in this measure.

Article 7
Transitional and final provisions

1. The transactions carried out after the entry into force of the Law and before the entry into force of this regulation must be declared within sixty days after the entry into force of this provision.

2. The Office may, in a subsequent ruling, state information and computer systems for making and transmission of the statements and communications under the present measure.

3. This decision shall enter into force on the day following its publication in the Official Gazette.

The President FAZIO