L.R.O. 1/2012
LAWS OF GUYANA
GUYANA GOLD BOARD ACT
CHAPTER 66:01
Act
12 of 1981
Amended by
2 of 1987
5 of 1994
1 – 30 ... 1/2012 (inclusive) by L.R.O.
Pages Authorised
Current Authorised Pages
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Index
of
Subsidiary Legislation
Page
Prices for Burnt Raw Gold Notices 21
(Gaz. Nt. 25/6/1983, 24/9/1983)
Guyana Gold Board (Amnesty) Orders 23
(O. 52/1987, 25/1990, 72/1991)
Guyana Gold Board (Dealers) Regulations 24
(Reg. 4/1997)

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CHAPTER 66:01
GUYANA GOLD BOARD
ARRANGEMENT OF SECTIONS
SECTION
1. Short title.
2. Interpretation.
3. Establishment of the Board.
4. Functions of the Board.
5. Fixing the price of gold.
6. Producers to sell gold to the Board.
7. Other persons in possession of gold.
8. Gold to be sold to and purchased from the Board.
9. Exemptions.
10. Authority to purchase gold.
11. Disclosure of interest by member of the Board.
12. Employment of officers and other employees of the Board.
13. Funds of the Board.
14. Borrowing powers of the Board.
15. Investments.
16. Audit and accounts of the Board.
17. Annual report.
18. Power of the Minister to give directions to the Board.
19. Exclusion of application of Limitation Act.
20. Parate execution.
21. Search of premises and persons.
22. Power to order amnesty.
23. Offences and penalties.
24. Power to accept compensation for offence.
25. Regulations.
FIRST SCHEDULE
SECOND SCHEDULE
___________________________
12 of 1981 An Act to provide for the establishment, constitution, and
functions of the Guyana Gold Board and for matters
connected therewith.
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[31ST DECEMBER, 1981]
Short title.

Interpretation.
[5 of 1994]
c. 65:01

Establishment
of the Board.
First Schedule.

Functions of
the Board.
1. This Act may be cited as the Guyana Gold Board
Act.
2. In this Act —
“Board” means the Board established by section 3;
“claim” has the meaning assigned to it by the Mining Act;
“gold” means raw gold, and includes unrefined gold
amalgam, slimes and scrapings containing gold, and
smelted gold that is not manufactured into any article
of commerce;
“producer” includes—
(a) any holder or licensee of a claim;
(b) any holder of a prospecting licence
who has obtained gold during
prospecting operations; or
(c) any tributor who has lawfully
obtained gold from a claim on which
he is working under a contract
whereby all or part of any gold won
by him becomes his property.
3. There is hereby established the Guyana Gold Board
which shall be a body corporate and the provisions of the
First Schedule shall have effect as to the constitution of the
Board and otherwise in relation thereto.
4. It shall be the function of the Board—

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Fixing the price
of gold.
Producers to
sell gold to the
Board.
[5 of 1994]
(a) to carry on the business of trading in
gold;
(b) to secure at all times an adequate
supply of gold and to ensure its
equitable distribution in Guyana at
fair prices;
(c) subject to this Act, to purchase all
gold produced in Guyana;
(d) subject to this Act, to sell all gold in
Guyana and to sell gold outside
Guyana;
(e) to engage in other related commercial
or industrial activities.
5. The Board shall, from time to time, with the
approval of the Minister, by notice in the Gazette, fix the price
at which the Board shall purchase or sell gold in Guyana.
6. (1) Every producer who possesses gold, won or
obtained during operations as a producer, before the date of
coming into operation of the Guyana Gold Board
(Amendment) Act, shall sell such gold to the Board or to any
agent authorised in writing by the Board in that behalf within
twenty-eight days of the said date.
(2) Every producer who wins or obtains gold
during operations as a producer shall, within twenty-eight
days after his winning or obtaining such gold and within
twenty-four hours of conveying such gold to Georgetown or
any other place determined by the Minister by notice in the
Gazette, or such longer period as the Board may allow, sell
such gold to the Board or to any agent authorised in writing
by the Board in that behalf:
Provided that if the office of the Board is closed when the
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Other persons
in possession of
gold.
[5 of 1994]
c. 80:01
producer brings such gold to Georgetown or other place, the
producer shall sell such gold to the Board on the first day
following when the office of the Board is open:
Provided further that where an application is made to the
Board by a producer in the manner determined by the Board,
the Board may authorise that producer to retain such quantity
of gold as it deems fit for his personal use and not for trade.
7. (1) Every person, not being a producer, who has
gold in his possession shall, within twenty-eight days after
the coming into operation of this Act sell such gold to the
Board or to any agent authorised in writing by the Board in
that behalf.
(2) It shall be unlawful for any person, not being a
producer, to have any quantity of gold in his possession.
(3) Every person, not being a producer, who has
any quantity of gold in his possession on the date of the
coming into operation of the Guyana Gold Board
(Amendment) Act shall, within twenty-eight days of the said
date, sell such gold to the Board or to any agent authorised in
writing by the Board in that behalf:
Provided that this section shall not apply to any person
who—
(a) is lawfully in possession of gold as the
holder of a goldsmith’s licence under
section 59 of the Tax Act or as a duly
registered dentist under any law for
the time being in force in Guyana; or
(b) is in possession of gold not obtained
in Guyana and who in transit in
Guyana, the onus of proof thereof
being on the person in possession of
such gold.
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Gold to be sold
to and
purchased from
the Board.
Exemptions.
[5 of 1994]

c. 65:01
c. 80:01
8. No person shall sell any gold to, or purchase any
gold from, any person other than the Board or any agent
authorised in writing by the Board or export any gold.
9. (1) Notwithstanding the provisions of sections 7
and 8, where application is made to the Board by any person
in the prescribed manner the Board may authorise that person
to have in his possession or to sell or export such quantity of
gold as the Board may allow subject to such conditions as the
Board may think fit to impose.
(2) Nothing in this Act shall be construed as
prohibiting any transaction in a mining district within the
meaning of the Mining Act whereby a person who is duly
authorised under the Tax Act to sell, barter or expose for sale
goods at any place in the mining district (hereinafter in this
section referred to as “the licensee”) advances money or
supplies goods on credit to a miner in consideration of
payment being made therefor with gold won or obtained in
the course of prospecting for, exploiting and processing, gold
and precious stones:
Provided that the licensee shall—
(a) within ten days of receipt thereof
inform the Board of such receipt, and
(b) on demand sell all gold so received to
the Board at the price fixed under
section 5.
(3) Every transaction mentioned in subsection (2)
shall be recorded by the licensee in a book kept by him for
that purpose stating the amount of money advanced or the
description and the amount of the goods supplied and the
cost thereof, and the amount of gold received by him as
payment therefor.

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Authority to
purchase gold.
[5 of 1994]
c. 80:01
(4) The book required to be kept by the licensee
pursuant to subsection (3) shall be produced for inspection to
any officer of the Board or to any other person authorised by
the Board in that behalf.
(5) Every officer of the Board or any other person
authorised for the purposes of subsection (4) shall, if required
to do so by the licensee, produce evidence of his appointment
or authority before exercising the powers conferred by
subsection (4).
(6) In this section—
“miner” means any person who prospects for, locates claims
for, exploits and processes gold and precious stones.
10. (1) Notwithstanding the provisions of sections 7
and 8 any person who is duly authorised under the Tax Act to
sell, barter or expose for sale goods at any place in a mining
district (hereinafter in this section referred to as the ‘licensee’)
is hereby authorised by the Board to purchase gold:
Provided that—
(a) within fourteen days of the purchase
of such gold the licensee shall inform
the Board of such purchase; and
(b) on demand sell all gold in his
possession to the Board at the price
fixed under section 5.
(2) Every transaction mentioned in subsection (1)
shall be recorded by the licensee in a book kept by him for
that purpose stating the amount of gold purchased or sold by
him.
(3) The book required to be kept by the licensee
pursuant to subsection (2) shall be produced for inspection to
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Disclosure of
interest by
member of the
Board.
Employment of
officers and
other
employees
of the Board.
any officer of the Board or to any other person authorised by
the Board in that behalf.
(4) Every officer of the Board or any other person
authorised for the purposes of subsection (3) shall, if required
to do so by the licensee, produce evidence of his appointment
or authority before exercising the powers conferred by
subsection (3).
11. (1) Any member of the Board whose interest is
likely to be affected whether directly or indirectly by a
decision of the Board on any matter whatsoever, shall disclose
the nature of the interest at the first meeting of the Board at
which he is present after the relevant facts have come to his
knowledge.
(2) A disclosure under subsection (1) shall be
recorded in the minutes of the Board, and after the disclosure,
the member of the Board making the disclosure shall, unless
the Board otherwise directs, not be present or take part in the
deliberation or vote at any meeting during the time when
such matter is being decided by the Board.
(3) For the purposes of this section, where the
interest of parents, spouse or children of any member of the
Board is likely to be affected directly or indirectly by a
decision of the Board on any matter, such interest shall be
deemed to be the interest of that member.
(4) The Minister may revoke the appointment of
any member who contravenes or fails to comply with the
provisions of this section.
12. (1) The Board may, with the approval of the
Minister, appoint a General Manager, a Secretary and such
other officers and other employees at such remuneration and
on such other terms and conditions as the Board, with the
approval of the Minister, may determine.

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c. 39:05
(2) The Board may, at any time, retain the services
of experts and other professional persons and may pay such
remuneration in respect thereof as the Board, with the
approval of the Minister, may determine.
(3) Where a public officer is seconded or
temporarily transferred from a pensionable office within the
meaning of the Pensions Act to an office with the Board,
section 5 of that Act shall apply to him as if his service with
the Board were service in a public office.
(4) Where a public officer is appointed to an office
with the Board, his service with the Board shall be other
public service within the meaning of, and for the purpose of
such provisions applicable in relation thereto as are contained
in the Pensions Act (including the Pensions Regulations 1957).
(5) Where a teacher who has done qualifying
service within the meaning of the Teachers Pensions Act is,
with the approval of the appropriate authority—
(a) seconded or temporarily transferred
from his office as a teacher to an office
the power of appointment to which is
vested by this Act in the Board,
section 5 of the Pensions Act (as
applied to a teacher by section 7C of
the Teachers’ Pensions Act) shall
apply to him;
(b) transferred from his office as a teacher
to a substantive appointment in an
office the power of appointment to
which is vested by this Act in the
Board, his service with the Board shall
be treated as if it were other public
service within the meaning of, and for
the purposes of such provisions
applicable in relation thereto as are
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Funds of the
Board.

Borrowing
powers of the
Board.

Investments.

Audit and
accounts of the
Board.
[6 of 1997]
contained in, the Pensions Act
(including the Pensions Regulations
1957) and as if the teacher were an
officer to whom the Pensions Act
applies.
(6) In this section, “appropriate authority” means
the person or authority vested by law with power to appoint
the officer to the pensionable office held by him (and to which
the Pensions Act applies) or to appoint the teacher to the
office held by him as a teacher, as the case may be.
13. (1) The Board shall maintain a fund into which
shall be paid all such monies as may, from time to time, be
appropriated for its purpose by Parliament and such other
monies as may lawfully be paid to the Board, and out of the
fund shall be paid all expenses incurred by the Board in
carrying out its functions under this Act and all other
liabilities properly incurred by the Board.
(2) The Board shall manage, administer and keep
proper accounts of the fund.
14. The Board may, with the approval of the Minister
responsible for finance, borrow sums required by the Board
for meeting any of its obligations or discharging any of its
functions.
15. Monies standing to the credit of the Board may,
from time to time be invested in securities approved either
generally or specifically by the Minister, and the Board may
from time to time with the like approval sell all or any of such
securities.
16. (1) The accounts of the Board shall be audited
annually by an auditor appointed by the Minister.
(2) The Minister may at any time appoint an
auditor to examine the accounts of the Board and to report
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Annual report.
thereon to him.
(3) The members, officers and other employees of
the Board shall grant to the auditor so appointed access to all
books, documents, cash and securities of the Board and shall
give to him on request all such information as may be within
their knowledge in relation to the operations of the Board.

(4) An auditor appointed under this section has
power to summon and examine all persons whom he shall
think fit to examine for the purpose of obtaining information
in connection with the examination and audit of the accounts
of the Board and respecting all other matters and things
whatever necessary for the due performance of the functions
vested in him; and if any person summoned as aforesaid is
not a public officer or a member or any officer or other
employee of the Board he is entitled to be paid for his
attendance as if he were a witness attending a legal
proceeding in obedience to the summons issued at the
instance of the State.
(5) Any person summoned under subsection (4)
who, without reasonable excuse, makes default in obeying
such summons is liable on summary conviction to a fine of
two thousand seven hundred and fifty dollars or, in default of
payment thereof, to imprisonment for one month.
17. (1) The Board shall, not later than six months after
the end of each calendar year, submit to the Minister a report
containing—
(a) an account of its transactions
throughout the preceding calendar
year in such detail as the Minister
may direct; and
(b) a statement of the accounts of the
Board audited in accordance with
section 16.
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Power of the
Minister to give
directions to
the Board.

Exclusion of
application of
Limitation Act.
c. 7:02
Parate
execution.
Search of
premises and
persons.
[5 of 1994]
(2) A copy of the report together with a copy of the
auditor’s report shall be laid before the National Assembly.
18. (1) The Minister may, after consultation with the
Board, give to the Board directions of a general or special
character as to the policy to be followed by the Board in the
performance of its functions as appears to the Minister to be
requisite in the public interest, and the Board shall give effect
to any such directions.
(2) The Board shall afford to the Minister facilities
for obtaining information with respect to the property and
activities of the Board and furnish him with returns, accounts
and other information with respect thereto in such manner
and at such times as he may require.
19. The Limitation Act does not apply to proceedings
instituted by the Board.
20. Monies due to the Board may be recovered by
parate execution without prejudice to any other right of
recovery available to the Board by virtue of any other law.
21. (1) If any officer has reasonable cause to suspect
that an offence against section 6, 7, 8, 9 or 10 has been or is
being committed and that evidence of the commission of the
offence is to be found at any premises or other place then,
upon oath made by the officer before a magistrate or justice of
the peace of the fact of the suspicion, the magistrate or justice
of the peace may, by warrant under his hand, authorise the
officer, with all necessary assistance and by force if required
and at any hour of the day or night, to enter the said premises
or other place at any time within one month after the date of
the warrant and to search the said premises or other place.
(2) A person authorised by any warrant as
aforesaid to search any premises or other place may search
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Power to order
amnesty.
[2 of 1987]
every person found therein or whom he has reasonable cause
to believe to have recently left those premises or that other
place and may seize any gold found therein or on any such
person and any other article which he has reasonable cause to
believe to be evidence of the commission of any offence
against this Act:
Provided that no female shall be searched in pursuance
of any warrant issued under this section, except by a female.
(3) Any officer who has reasonable cause to
suspect that any person is unlawfully in possession of, or
removing, any gold may stop and search that person and any
vehicle or other conveyance in his possession or under his
control, or in which he is, and any package under his control,
and if any gold is found upon him or in any such vehicle,
conveyance or package may seize and detain the same and
arrest and detain the person until he can be brought before a
magistrate and dealt with according to law:

Provided that no female shall be searched except by a
female.
(4) In this section “officer” means every justice of
the peace, customs officer, officer of the Department of
Geological Surveys and Mines or of the Geology and Mines
Commission, every member of the Police Force, every mines
officer under the Mining Act and every person employed by
the Board and authorised in writing for the purpose of this
section by the General Manager of the Board.
22. No person who sells all gold in his possession to
the Board during the period commencing on 2nd September,
1986 and ending on 31st December 1986 or during such other
period as may be prescribed by order of the Minister, and
otherwise in accordance with such order, shall be prosecuted
under this Act for conveying, purchasing or otherwise
acquiring or possessing such gold in contravention of the
provisions of this Act, or in the case of the licensee referred to
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Offences and
penalties.
[5 of 1994
6 of 1997]

Power to accept
compensation
for offence.
[5 of 1994]
in section 9 for not maintaining the book required to be kept
by him by that section in respect of such gold.
23. Any person who—
(a) contravenes or fails to comply with
the provisions of section 6, 7, 8, 9 or
10; or
(b) obstructs any officer of the Board, or
any other person authorised by the
Board to perform any function on its
behalf in the exercise of his functions
under this Act; or
(c) breaches any condition imposed by
the. Board under section 9 (1), shall be
liable on summary conviction—
(i) to a fine of seventy-five
thousand dollars for the first
conviction;
(ii) to a fine of seventy-five
thousand dollars and to
imprisonment for five years on
the second or any subsequent
conviction:
Provided that the Court may for any special reasons to be
recorded in writing impose any lesser sentence, and to
forfeiture of the gold in respect of which the offence was
committed.
24. Notwithstanding any other provision of this Act,
the Minister may in any case he deems proper and in
substitution for any proceedings in a court, accept on behalf
of the Board a sum of money by way of compensation from
any person reasonably suspected of a contravention of this
Act or any regulation made thereunder:
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Second
Schedule.

Regulations.
Provided that such compensation shall be accepted only
where the person reasonably suspected of such contravention
has expressed his willingness in a duly completed form in the
Second Schedule that the contravention as aforesaid shall be
so dealt with.
25. The Minister may make regulations for the
purpose of carrying out the provisions of this Act.
__________
s. 8
Constitution of
the Board.


Gazetting of
appointments.
Seal of the
Board.
FIRST SCHEDULE
CONSTITUTION
1. The Board shall consist of not less than three and
not more than seven persons, including the General Manager,
appointed by the Minister from among persons appearing to
him to be qualified for appointment by reason of their
experience of, and shown capacity in, industry, trade,
commerce and marketing.
2. The names of all members of the Board as first
constituted and every change in the membership of the Board
shall be published in the Gazette.
3. (1) The seal of the Board shall be kept in the custody
of the Chairman of the Board or the Secretary and shall be
authenticated by the signatures of the Chairman, or the
Deputy Chairman, or the General Manager, and the Secretary
of the Board.
(2) Every document purporting to be an
instrument duly executed under the seal of the Board shall be
received in evidence and deemed, without further proof to be
so executed, unless the contrary is proved.
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Meetings of the
Board and the
procedure
thereat.
(3) The documents, other than those required by
law to be under seal, made by, and all decisions of, the Board
may be signified under the hand of the Chairman, or the
Deputy Chairman, or the General Manager, or the Secretary.
4. (1) The Board shall meet at such times as may be
necessary or expedient for the transaction of business, and the
meetings shall be held at such places and times and on such
days as the Board may determine.
(2) The Chairman may at any time summon a
special meeting of the Board and shall summon a special
meeting within seven days of the receipt of a written
requisition for that purpose addressed to him by any three
members of the Board.
(3) The Chairman, or in his absence the Deputy
Chairman, shall preside at all meetings of the Board, and in
the absence of the Chairman and the Deputy Chairman from
a meeting of the Board the General Manager shall act as
Chairman at the meeting.
(4) Three members of the Board shall constitute a
quorum.
(5) Minutes in proper form of every meeting of the
Board shall be kept by the Secretary and shall be confirmed
by the Chairman, or the Deputy Chairman or the General
Manager, as the case may be, as soon as practicable thereafter
at a subsequent meeting.
(6) The Board may co-opt any one or more persons
to attend any meeting of the Board at which the Board is
dealing with a particular matter, for the purpose of assisting
or advising the Board, but no such co-opted person shall have
any right to vote at the meeting.
(7) Subject to the provisions of this schedule, the
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Committees,
and powers of
delegation.


Protection of
members.

Remuneration
of members of
Board may regulate its own proceedings.
5. (1) The Board may appoint committees as it may
think fit to examine and report to it on any matter whatsoever
arising out of or connected with any of its functions.
(2) Any such committee shall consist of at least two
members of the Board together with such other persons,
whether members of the Board or not, whose assistance or
advice the Board may desire.
(3) Where persons, not being members of the
Board, are members of a committee appointed under this
paragraph, the Board shall pay to each of such persons, in
respect of his membership of such committee such
remuneration and allowances, if any, as the Minister may
determine and such sums shall properly be payable out of the
funds and resources of the Board.
(4) The Board may reject the report of any such
committee or adopt it either wholly or with modifications,
additions or adaptations as the Board may think fit.
(5) Subject to the provisions of this Act, the Board
may delegate to any committee or member of the Board the
power and authority to carry out on its behalf such functions
as the Board may determine.
6. (1) No member of the Board is liable for any act
done or omitted to be done by the Board in good faith in the
course of carrying out its functions.
(2) Where a member of the Board is exempt from
liability by reason only of the provisions of this paragraph,
the Board is liable to the extent that it would be if the member
were a servant or agent of the Board.
7. The Board shall pay to each of its members (other
than the General Manager) in respect of his office such, if any,
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the Board.

s. 24
remuneration and allowances as the Minister may determine,
and to the Chairman and to the Deputy Chairman, in respect
of his office such, if any, remuneration and allowances to
which he may be entitled in respect of his office as a member
as may be determined.
__________
SECOND SCHEDULE
GUYANA
FORM REQUIRED TO BE COMPLETED IN ACCORDANCE
I, ...................................................................................................
(Name)
of ...................................................................................................
(Address)
being...............................................................................................
(Occupation)
hereby agree to pay to the Minister the sum of …………….
…………………………………………………………………….
as compensation, in substitution for proceedings against me
in a court of summary jurisdiction for the offence of
STATEMENT OF OFFENCE
PARTICULARS OF OFFENCE
Dated this day of 20
at
WITH SECTION 24 OF THE GUYANA GOLD BOARD ACT
CAP. 66:01
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............................................................
Signature of Person reasonably suspected
____________________

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SUBSIDIARY LEGISLATION
_________________
Nt. 21/5/1983
made under section 5
Notice is hereby given that in accordance with section 5 of the
Guyana Gold Board Act, with effect from Saturday June 21
1983, the Guyana Gold Board, with the approval of the
Minister, has fixed the prices at which it shall purchase burnt
raw gold in Guyana to be: –
The Guyana Dollar equivalent of the daily noon
price quoted on the London Gold Market, less 10%
in Georgetown and less 12% in any mining
region, for refining and other expenses.
__________

Nt. 25/6/1983 NOTICE
made under section 5
Notice is hereby given that in accordance with section 5 of the
Guyana Gold Board Act, with effect from Saturday June 25
1983, the Guyana Gold Board, with the approval of the
Minister, has fixed the prices at which it shall purchase burnt
raw gold in Guyana to be: –
NOTICE
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[Subsidiary] Prices for Burnt Raw Gold Notices
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The Guyana Dollar equivalent of the daily noon
price quoted on the London Gold Market, less 10%
in Georgetown and less 12% in any mining
region, for refining and other expenses.
__________
Nt. 5/9/1983 NOTICE
made under section 5
Notice is hereby given that in accordance with section 5 of the
Guyana Gold Board Act, with effect from Monday September
5 1983, the Guyana Gold Board, with the approval of the
Minister, has fixed the prices at which it shall purchase burnt
raw gold in Guyana to be: –
The Guyana dollar equivalent of 4.9 times the daily
US dollar noon price fixed by the London Gold
Market.
__________
Notice is hereby given that in accordance with section 5 of the
Guyana Gold Board Act, with effect from Monday September
5 1983, the Guyana Gold Board, with the approval of the
Minister, has fixed the prices at which it shall sell burnt raw
gold in Guyana to be: –


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[Subsidiary] Prices for Burnt Raw Gold Notices
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L.R.O. 1/2012
The Guyana dollar equivalent of 4.9 times the daily
US dollar noon price fixed by the London Gold
Market plus 25%.
____________________
O. 52/1987 GUYANA GOLD BOARD (AMNESTY) ORDERS
made under section 20A
Citation.
Amnesty
period.
1. This Order may be cited as the Guyana Gold Board
(Amnesty) Order.
2. Any person who sells during the period
commencing on 14th September, 1987 and ending on the 31st
December, 1987 all gold in his possession to the Board shall
not be prosecuted under the Act for conveying, purchasing or
otherwise acquiring or possessing such gold in contravention
of the provisions of the Act, or in the case of the licensee
referred to in section 9 for not maintaining the book required
to be kept by him by that section in respect of such gold.
_____________________
O. 72/1991 GUYANA GOLD BOARD (AMNESTY) ORDERS
made under section 20A
Citation.
1. This Order may be cited as the Guyana Gold Board
LAWS OF GUYANA
24 Cap. 66:01 Guyana Gold Board
[Subsidiary] Guyana Gold Board (Amnesty) Order
Guyana Gold Board (Dealer) Regulations
L.R.O. 1/2012
Amnesty
period.
(Amnesty) Order.
2. Any person who sells during the period
commencing on 17th December, 1991 and commencing on 31st
December, 1991, all gold in his possession to the Board shall
not be prosecuted under the Act for conveying, purchasing or
otherwise acquiring or possessing such gold in contravention
of the provisions of the Act, or in the case of the Licence
referred to in section 9 for not maintaining the book required
to be kept by him by that section in respect of such gold.
__________________
Reg. 4/1997
made under section 9 and 22
Citation.
Interpretation.
Form of
application for
grant renewal
of author-
isation.
Schedule
Form 1
1. These Regulations may be cited as the Guyana Gold
Board (Dealers) Regulations.
2. In these Regulations “dealer” means a person
authorised by the Board under section 9 of the Act to possess,
sell or export gold.
3. (1) An application for the grant or renewal of an
authorisation under section 9 of the Act shall be made in
Form 1 in the Schedule and shall state the particulars required
to be stated by the form.
(2) The renewal of an authorisation may be refused
GUYANA GOLD BOARD (DEALERS) REGULATIONS
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Fee, form of
authorisation.
Schedule
Form 3
or an authorisation may be suspended or revoked where a
dealer commits a breach of the conditions subject to which the
authorisation is granted:
Provided that the dealer is given a reasonable
opportunity of being heard before such refusal, suspension or
revocation.
4. (1) A fee of two hundred thousand dollars shall be
paid for the grant of an authorisation under section 9 (1) of
the Act and the authorisation shall be in Form 2 in the
Schedule.
(2) Every authorisation shall be subject to the
provisions of the Act, the regulations made thereunder and
the conditions in Form 2 subject to which the authorisation is
granted.
__________
Reg. 3
SCHEDULE
FORMS
FORM 1
APPLICATION FOR AUTHORISATION OR RENEWAL
OF AUTHORISATION TO DEALER TO POSSESS, SELL
OR EXPORT GOLD
1. Applicant’s name in full and, whether application is
made by an individual, or as a director or officer of a
partnership, company or other body corporate.
2. If application is made by an individual, the
following information is required: –
(a) Address of applicant.
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[Subsidiary] Guyana Gold Board (Dealers) Regulations
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(b) National Identification Card No.
(c) Age.
(d) Occupation.
(e) Copy of business registration.
3. If the application is made by a director or officer of
a partnership, the following information is required: –
(a) Address of applicant.
(b) Copy of business registration.
(c) Name and addresses of the persons
who are partners of the firm.
4. If the application is made by a director or officer of
a company or other body corporate the following information
is required: –
(a) Address of registered or principal
office.
(b) Nature of Business.
(c) List of Officers showing names,
addresses and designations.
(d) Certificate and articles of
incorporation, in the case of a
company.
5. Two recommendations.

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6. Proof of financial capability.
7. Tax compliance certificate.
8. National Insurance compliance certificate.
9. Business Plan.
10. Declaration indicating willingness to lodge a
performance bond.
Dated this day of ,20
...............................................
Signature of applicant
NOTE – This application must be accompanied by a fee of
two thousand dollars.
__________
FORM 2
DEALER’S AUTHORISATION TO POSSESS, SELL OR
EXPORT GOLD
AUTHORISATION NO.......................................
1. Authorisation/renewal of authorisation is hereby
section 9 (1) of the Act granted to..................................................
of.........................................................................................................
to possess, sell or export gold.
2. The premises at which the authorisation business
shall be carried on are specified below.
3. This authorisation shall be subject to the provisions
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L.R.O. 1/2012
of the Act, the regulations made hereunder and the conditions
specified in the Appendix to this authorisation.
4. This authorisation shall be valid from the date
hereof until the expiry of 31st December, 20........
AUTHORISE PREMISES
Dated this day of ,20
Official Stamp.
Guyana Gold Board.
__________
APPENDIX TO FORM 2
CONDITIONS SUBJECT TO WHICH ATHORISATION
TO DEALER IN FORM 2 IS GRANTED
(i) Upon purchase of gold a dealer
shall deduct and pay royalty
and income tax to the Board bi-
weekly except that a dealer
shall not be liable to pay
income tax in respect of gold
purchased from a company.
(ii) A dealer shall maintain proper
records of every transaction in
a book kept by him for that
purpose stating the date of the
transaction, the amount of gold
purchased, the price thereof
and the amount exported, the
name of the person from whom
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L.R.O. 1/2012
the purchase was made, his
dredge number or shop
keeper’s licence number, as the
case may be, claim number,
gross value of gold, royalty and
taxes deducted and such
records shall be kept for a
period of five years and shall be
produced for inspection by any
person authorised by the
Board.
(iii) Royalty and income tax shall be
calculated on the prevailing
price of gold as based on
second London fix which will
be made available by the Board.
(iv) Calculation of royalty shall be
based on an average purity of
92%.
(v) Subject to the prior certification
of approval on the Customs
documents by the Board of
every export that royalty and
income tax have been paid in
respect of the gold to be
exported, a dealer shall in
exporting gold comply with all
customs laws and procedure.
(vi) The Board shall undertake
reconciliation between
purchases and export to ensure
that a dealer does more than
the amount purchased (plus
any declaration of production
of gold in the case where a
dealer is a procedure).
(vii) Every dealer shall observe
proper occupational health and
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safety standards in the conduct
of his business.
(viii) Every dealer shall permit a
duly authorised officer to enter
the premises of the authorised
dealer at all reasonable times to
inspect the records referred to
in paragraph (ii).
__________________