941.31 — PMCA

Federal Act
on the Control of the Trade in Precious Metals
and Precious Metal Articles
(Precious Metals Control Act, PMCA)¹

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

of 20 June 1933 (Status as of 1 July 2023)

The Federal Assembly of the Swiss Confederation,

based on Articles 95 paragraph 1 and 97 paragraph 1 of the Federal Constitution ² , ³
and having examined the Federal Council Dispatch dated 8 June 1931 ⁴

decrees:

Section 1 Definitions

Precious metal,
precious metal articles and multi-metal articles

Art. 1⁵

Precious metals under this Act are gold, silver, platinum and palladium.

Melt products are ingots, slabs, bars and granules produced by melting or recasting precious metal or melt material.

Melt material means:

1. precious metals obtained through the extraction of raw materials or refining;
2. waste products from the processing of precious metals or alloys thereof which are usable for reclaiming precious metal;
3. material containing precious metal which is usable for reclaiming precious metal.

Precious metal articles are articles wholly comprised of precious metals with a legal standard of fineness, or articles made of precious metals with a legal standard of fineness in combination with a non-metallic material. This does not include coins made of precious metals.

Multi-metal articles are articles made of a combination of precious metal with a legal standard of fineness and base metals.

Plated articles. Imitations

Art. 2⁶

Plated articles are articles for which a layer of precious metal is fixed or plated to a substrate of another material.

The minimum requirements for precious metal layers are set out in Annex 1 hereto. The Federal Council shall specify the error tolerance and may adjust the provisions in the Annex in line with international developments.

Imitations are:

1. articles made of precious metals that are below the minimum legal standard of fineness or do not satisfy the other material conditions for precious metal articles;
2. articles that qualify as multi-metal articles or plated articles but which are not marked as such or do not satisfy the material conditions for these categories of articles.

Section 2 Fineness

Legal standards of fineness⁷

Art. 3

Fineness refers to the purity of precious metal contained in a unit of weight of a metal alloy, measured in parts per thousand.

The legal standards of fineness for precious metal articles and multi-metal articles are set out in Annex 2 hereto. The Federal Council may adjust these provisions in line with international developments. ⁸

Art. 4⁹

Error tolerance

Art. 5

The Federal Council ¹⁰ shall define the extent to which and the circumstances in which error tolerances may be allowed for deviations from the standard of fineness.

Section 3 Trade in Finished Articles

Marking of goods; accuracy

Art. 6¹¹

Where the Act or the Ordinance prescribes or authorises marks on goods, these must refer to the composition of the article. It is prohibited to apply a mark that is likely to be misleading to precious metal articles, multi-metal articles, plated articles or imitations or to items likely to be confused with these.

Precious metal articles; fineness mark

Art. 7¹²

Precious metal articles may only be placed on the market with a legal fineness mark.

All parts of a precious metal article must at least meet the specified fineness. The Central Office for Precious Metals Control (Central Office) may make exceptions on technical grounds.

In addition to the fineness mark, articles of platinum or palladium must also bear a reference to the type of precious metal used.

Multi-metal articles; marking and appearance

Art. 7a¹³

Multi-metal articles may be traded as such provided that they are marked accordingly and satisfy the material conditions.

The actual composition must be clear from the mark. The precious metal parts must be clearly marked with the legal fineness in parts per thousand, the other metal parts with the type of metal used.

The different metals must be visible from the exterior and differ in colour. Multi-metal articles must not have the appearance of plated articles.

Plated articles and imitations; marking

Art. 8¹⁴

Plated articles may be traded as such provided that they are marked accordingly and satisfy the material conditions.

Plated articles must bear quality marks which must not leave any doubt as to their plated nature.

Imitations with precious metal coatings may be marked as gilded, silvered, platinised or palladised articles.

Plated articles and imitations must not bear any fineness marks.

Other marks and exceptions

Art. 8a¹⁵

The Federal Council may prescribe or authorise other marks for precious metal articles, multi-metal articles, plated articles and imitations.

The Federal Council may provide for exceptions to the legally prescribed marks for special, i.e. technical and medical, purposes.

The Central Office may issue more specific provisions on the type and form of the prescribed and authorised marks.

Material requirements; more specific provisions

Art. 8b¹⁶

The Federal Council shall issue detailed provisions on the requirements for precious metal articles, multi-metal articles and plated articles.

It may authorise the Central Office to specify the technical details.

Responsibility mark

a. Obligation

Art. 9

In addition to the prescribed marks, precious metal articles, multi-metal articles and plated articles must also bear a responsibility mark. ¹⁷

Manufacturers who do not themselves produce the articles that they use may have their trademark stamped as a responsibility mark on the articles manufactured for them. Articles 10 to 12 apply in the case of these marks.

For watch-cases, members of manufacturer associations may use a collective responsibility mark with a serial number. ¹⁸

An indication of the standard of fineness may not be applied unless a responsibility mark is applied at the same time.

b. Composition

Art. 10¹⁹

The responsibility mark is a symbol which in itself identifies the owner of the mark. It may consist of letters, figures, words, graphic representations or artistic forms, individually or in combination. The mark should not be likely to be confused with previously registered marks or with the official hallmarks.

The imprint of the responsibility mark on the article must be clear and indelible.

c. Application for registration

Art. 11

The responsibility mark must be submitted in writing to the Central Office ²⁰ for registration. The application must include the owner’s place of residence and registered office and a precise description of the type of business as well as the evidence needed to prove the mark’s compliance with legal requirements.

An owner of a mark who is not listed in the Swiss Commercial Register or is not resident in Switzerland may be asked to provide collateral. This collateral serves as a guarantee for all claims under this Act.

The registration fee is payable on submission of the application.

d. Registration

Art. 12

The Central Office shall maintain a register of all responsibility marks that fulfil the legal requirements. The applicant shall be notified of the registration decision by registered letter, which, in the case of refusal, contains information on the right of appeal against the decision.

Registration applies for a period of 20 years from the date of registration. Before expiry of this period, it may be extended for a further 20 years at a time on payment of the relevant fee. ²¹

If, subsequently, the legal requirements for registration of a responsibility mark no longer apply, or if the registration period expires before an application for extension is submitted, the responsibility mark shall be deleted from the register. ²² A mark may also be deleted from the register if the owner uses it in contravention of this Act. Deletion shall be ordered by the Central Office and the owner of the mark shall be notified by registered letter, which contains information on the right of appeal.

... ²³

Controlling and hallmarking

a. Precondition

Art. 13²⁴

Watch-cases made of precious metal are subject to an official control before being placed on the market. The control must be applied for by the manufacturer or the party who places the watch-case on the market.

For all other precious metal articles and for multi-metal articles, the owner of the articles may apply for an official control.

b. Purpose

Art. 14

The official control covers the accuracy and the permissibility of the marks stamped on the articles.

c. Officials Hallmarks

Art. 15²⁵

The accuracy of the fineness and responsibility marks stamped on the precious metal articles and multi-metal articles is certified by stamping the official hallmark.

Hallmarks bear the unique identification of the Assay Office conducting the official control.

d. Procedure

Art. 16

The official control is applied for by written application to the relevant Assay Office. Only articles bearing a legal fineness mark and the responsibility mark may be controlled. The official control is certified by the official hallmark.

e. Objection

Art. 17

If the article submitted for controlling does not satisfy the legal minimum fineness or if the fineness mark stamped on the article does not match the actual fineness, the Assay Office shall refuse to grant its official hallmark and shall notify the Central Office, which shall order a second opinion.

Depending on the outcome of the second opinion, the Central Office shall either authorise the official hallmarking or it shall have the articles seized and shall file a criminal complaint.

If the objection is justified but no offence appears to have been committed, the Central Office shall take the steps necessary for the further processing of the articles in question, which may not be placed on the market in Switzerland. The costs thereby incurred are borne by the party submitting the article for controlling. The Central Office may order the destruction of the articles.

f. Fees. Right of retention. Appeal

Art. 18

For all articles submitted for an official control, a fee (control or hallmark fee) must be paid irrespective of the outcome of the control.

For collection of the fees and expenses to be paid, a right of retention applies to the goods submitted for official control. In the event of dispute, claims are ruled upon by the Central Office. … ²⁶

g. Enforcement provisions

Art. 19

The Federal Council shall regulate the details of the procedure to be followed by the Assay Offices, the shape and composition of the official hallmarks, the means of notification of the official hallmark in Switzerland and abroad, the running of the controls and the amount of the fees, which must not be of fiscal character.

Import

Art. 20

Articles manufactured abroad and governed by this Act may only be placed on the domestic market if they comply with the provisions of this Act. The requirement for the official controlling of the watch-cases mentioned in Article 13 paragraph 1 is extended to imported finished watches with such cases. ²⁷

The Federal Council may provide for exceptions for special articles. ²⁸

The articles governed by this Act may be subject to comprehensive or random testing on import. If such testing reveals a that an offence has been committed, the article must be seized and forwarded to the Central Office so that it may file a criminal complaint. If the article does not meet the statutory requirements but no offence has been committed, it shall be returned across the border. ²⁹

Watch-cases and watches subject to mandatory official controlling must be forwarded by the customs office conducting the import assessment to the appropriate Assay Office. ³⁰

In the case of travel samples which are imported by sales representatives in observance of the Federal Act of 1 October 1925 ³¹ on Customs and Commercial Treaties but which do not remain in Switzerland, the provisions may be relaxed if a reciprocity agreement exists with the country of origin.

Export

Art. 21³²

Precious metal articles, multi-metal articles, plated articles and imitations intended for export must bear the prescribed marks; in addition, watch-cases made of precious metal must also bear the prescribed official hallmark.

However, domestic manufacturers may, of their own accord, provide such articles with marks that are customary or prescribed in the destination country.

The Federal Council shall determine the requirements to be observed and the symbols used that the Assay Offices are permitted to use to confirm a standard of fineness as prescribed by the destination country.

The Federal Council may define relaxed provisions for watch-cases that are verifiably exported directly to countries which stipulate mandatory controlling of watch-cases.

Transit

Art. 22

Goods in direct transit may undergo an official control. Article 20 paragraph 3 applies correspondingly. ³³

However, the provisions of this Act apply to those articles that do not enter the domestic market and remain under customs supervision, but which are forwarded abroad with Swiss transport papers duty unpaid.

For the removal of articles from customs or bonded warehouses, Art. 20, 21 and 22 paragraph 2 apply correspondingly. ³⁴

Reporting
of suspicious articles

Art. 22a³⁵

If the Central Office suspects that imported, exported or transit articles unjustifiably bear or imitate a responsibility mark, maker’s or assayer’s mark that is not their own or that the provisions for the protection of intellectual property are violated in any other way, it shall notify the aggrieved party. The articles may be retained.

Hawking ban

Art. 23³⁶

The hawking of articles subject to this Act is prohibited. This ban also applies to the taking of orders by retail sales representatives.

Section 4 Trade in Melt Products and Melt Material ³⁷

Manufacture of melt products

1. Melter’s licence

Art. 24³⁸

Authorisation is required for the commercial manufacture of melt products.

a. Requirements

Art. 25³⁹

Individuals, commercial enterprises and cooperatives established under the Code of Obligations ⁴⁰ as well as comparable foreign enterprises may apply for a melter’s licence. ⁴¹

Individuals must be entered in the Swiss Commercial Register and have their place of residence in Switzerland. They must be of good standing and offer proof of irreproachable business operations.

Commercial enterprises and cooperatives as well as Swiss branches of foreign enterprises must be entered in the Swiss commercial register. The persons entrusted with the administration and business management of the enterprises companies and cooperatives must be of good standing and offer proof of irreproachable business operations.

b. Granting. Renewal. Withdrawal

Art. 26

The melter’s licence shall on application be granted by the Central Office for a period of four years. On expiry of this period, the licence may be renewed provided that the applicant satisfies the statutory requirements. ⁴²

If a licence holder no longer satisfies any one of these requirements or has repeatedly violated the obligations assumed, the licence shall be automatically withdrawn by the issuing authority on a temporary or permanent basis.

Notice of the granting or withdrawal of a melter’s licence shall be given in the Swiss Official Gazette of Commerce. ⁴³

... ⁴⁴

Art. 27⁴⁵

2. …

Art. 28⁴⁶

Art. 29⁴⁷

Manufacture of smelting products

a. …

Art. 30⁴⁸

b. Obligations of the licence holder.
Marking

Art. 31

Each melt product must be inscribed with the licence holder’s mark. The die used for the mark must be deposited with the Central Office and may not be changed without the approval of this body. Notice of the deposit of the die must be published in the Swiss Official Gazette of Commerce.

The Federal Council shall specify the obligations of the holder of a melter’s licence.

Commercial purchase of melt material

Art. 31a⁴⁹

Any person who commercially purchases melt material within the meaning of Article 1 paragraph 3 letter b or c must ascertain the origin of the goods and document this.

If this person is entered in the Swiss commercial register, he or she must register with the Central Office.

If this person is not entered in the Swiss commercial register, he or she must obtain a purchase licence from the Central Office. This shall be granted if there is a guarantee of irreproachable business conduct.

Article 26 applies by analogy to the granting, renewal and withdrawal of the purchase licence.

The Federal Council shall define commercial purchases in more detail; in doing so, it shall in particular take account of the money laundering and terrorist financing risks posed by such purchases. It shall regulate the details of the due diligence and documentation duties.

Paragraphs 1 to 5 do not apply to holders of a melter's licence in accordance with Article 24.

Determination of the fineness of melt products

a. Competence. Purpose

Art. 32

Only Assay Offices or trade assayers may determine the fineness of melt products.

The control must determine the actual fineness of the melt product.

b. Procedure

Art. 33

The controlling agency shall first establish that a mark has been stamped in accordance with Article 31. If not, the melt product shall be seized and the party requesting the determination reported. The case shall at the same time be referred to the Central Office, which shall ask the applicant to provide proof of origin of the melt product. If such proof cannot be furnished, or if there is any indication that an offence has been committed, the Central Office shall file a criminal complaint.

If the melt product has been stamped, the control shall be conducted. Once determined, the melt product is stamped with the mark of the Assay Office or trade assayer; the actual fineness must be specified at the same time.

Approval procedure.
Fees

Art. 34

The Federal Council shall regulate the details of the procedure for granting, renewing and withdrawing melter's and purchase licences and for fineness determinations. ⁵⁰ It may also issue regulations on the recognition of foreign official fineness determinations. ⁵¹

The Federal Council shall regulate the fees to be paid for the official duties set out in paragraph 1. Article 18 paragraph 2 applies correspondingly.

Section 5 Organisation

Central Office

a. Reporting line

Art. 35

The Central Office is affiliated to the Federal Department of Finance ⁵² for the implementation of this Act. It may be incorporated into an existing administrative unit within the Department.

The Federal Council shall regulate the organisation of the Central Office.

b. Duties

Art. 36⁵³

The Central Office shall supervise the trade in precious metals and precious metal articles in accordance with this Act and the Anti-Money Laundering Act of 10 October 1997 ⁵⁴ (AMLA).

Specifically, its duties are to:

1. register the responsibility marks;
2. supervise the official controlling and hallmarking of precious metal articles;
3. grant melter's and purchase licences;
4. keep the register of people who purchase melt material on a commercial basis;
5. supervise the commercial purchase of melt material;
6. supervise the determination of the fineness of melt products;
7. supervise the administration of the Assay Offices and the trade assayers;
8. issue the diplomas for sworn assayers and the assayer licences for trade assayers.

It shall collect fees for its supervisory activities concerning the trade in precious metals and precious metal articles, as well as a supervisory levy for the costs of the activities under paragraph 2 letter e and under Article 42 ^ter that are not covered by the fees. The supervisory levy for the activities under paragraph 2 letter e shall be collected as a lump sum for a period of four years. The total assets and gross revenue shall be used as the basis for assessing the annual supervisory levy for activities under Article 42 ^ter . The Federal Council shall regulate the details of the fees and the supervisory levy.

Assay Offices

a. Establishment, dissolution

Art. 37

The Assay Offices for precious metal articles shall be established by the cantons or by the communes or business associations authorised to do so by the cantons. Establishment requires the approval of the Federal Department of Finance. It may also order the dissolution of an Assay Office if its facilities and management do not comply with the existing regulations or if there is no further need for its existence. The cost of establishing and operating an Assay Office shall be borne by the authorities or associations authorised to establish it. These shall receive the fees charged by the Assay Office.

In agreement with the appropriate cantonal government, the Department may establish federal Assay Offices if this is necessary in the country’s economic interests. In this case, the participating business sectors may be called on to contribute to the costs of establishment and any operating deficit of the Assay Offices. These Assay Offices report directly to the Central Office. The fees they receive flow into the federal budget.

The organisation, fees, accounting and operations of all Assay Offices are regulated by the Federal Council.

b. Duties

Art. 38

The Assay Offices deal with the official controlling and hallmarking of precious metal articles. They may also determine the fineness of melt products. Assay Offices may be assigned a limited geographical area in which to operate. They are authorised to control the precious metal articles and melt products made in that area. The Central Office may make exceptions under certain circumstances. The Assay Offices are prohibited from trading in melt material and melt products or performing any melting on behalf of third parties. Under certain circumstances, however, the Federal Department of Finance may authorise them to carry out such melting.

The Assay Offices shall support the Central Office in its supervision of enforcement of this Act. In particular, they shall report to it all offences that come to their attention and take the necessary measures to establish the facts by themselves or as instructed by the Central Office or the police authorities.

Officers of the Assay Offices are bound to secrecy concerning all observations made in the course of their work or which, by virtue of their nature, are confidential.

For losses incurred through incorrect execution of the duties entrusted to the Assay Offices, the Confederation shall be liable in the case of federal Assay Offices, and the canton in all other cases, to the extent that the bodies at fault cannot bear the costs themselves.

Official sworn assayers⁵⁵

a. Diploma

Art. 39

Officers of the Assay Offices responsible for controlling the precious metal articles and multi-metal articles to be officially hallmarked and for determination of the fineness of melt products must hold a federal diploma as sworn assayers. ⁵⁶ This shall be issued by the Central Office on their passing the diploma examination. The assayer thus qualified shall swear an oath or make solemn promise before the Central Office to faithfully discharge the official duties of the profession.

The requirements for the acquisition of the federal diploma are determined by the Federal Council.

b. Obligations. Responsibility

Art. 40

It is the duty of sworn assayers to comply with the provisions of this Act, the implementing provisions and the directives of the Central Office and avoid anything that could encourage others to commit an offence. Specifically, they may only perform fineness tests on melt products when the statutory requirements therefor have been met in each case and must immediately report all offences and administrative infringements under this Act that come to their attention. Article 38 paragraph 3 applies correspondingly.

The Central Office shall supervise the work done by the sworn assayers. It may withdraw the diploma in the event of serious violations of the duties incumbent upon the holder of an assayer diploma or on account of proven incompetence. … ⁵⁷

Sworn assayers are liable for all losses or damage caused by the incorrect or negligent execution of their work. Article 38 paragraph 4 also applies.

Trade assayers

a. Assayer licence.⁵⁸
Duties

Art. 41

Trade assayers must hold an assayer licence as trade assayer issued by the Central Office. This licence shall only be granted to assayers who hold a federal assayer’s diploma, are resident in Switzerland and are of good character. Trade assayers are permitted to acquire a melter's licence or purchase licence. ⁵⁹ Trade assayers shall swear an oath or make a solemn promise before the Central Office to faithfully discharge the official duties of their profession. They are authorised to ascertain the fineness of melt products and receive by way of remuneration the fees provided for in the Implementing Ordinance. They are not authorised to perform the official assaying and hallmarking of precious metal articles.

b. Obligations. Responsibility

Art. 42

It is the duty of trade assayers to keep a proper account of the determinations of fineness that they perform and all sums received in return. For the purposes of official investigations, the Central Office and the police authorities may inspect the books and enquire about specific entries. The bookkeeping rules shall be drawn up by the Federal Council.

Article 40 applies correspondingly. The withdrawal of an assayer’s diploma means the withdrawal of the assayer licence as trade assayer.

c. Additional licence for trading in banking precious metals

Art. 42^bis60

Trade assayers who themselves or through a group company trade on a commercial basis in banking precious metals require a licence from the Central Office.

The licence shall be granted to trade assayers if:

1. they are entered in the commercial register as a commercial company;
2. they ensure compliance with their duties in accordance with the AMLA⁶¹ by means of their internal regulations and organisation;
3. they enjoy a good reputation and guarantee compliance with their duties in accordance with the AMLA;
4. the persons responsible for their administration and management also fulfil the requirements set out under letter c; and
5. their qualified participants enjoy a good reputation and guarantee that their influence is not detrimental to prudent and sound business operations.

If a company trades commercially in banking precious metals of a trade assayer that belongs to its group of companies, it also requires a licence. The requirements under paragraph 2 must be met.

d. Supervision of trading in banking precious metals

Art. 42^ter62

Licence holders in accordance with Article 42 ^bis are subject to supervision by the Central Office in accordance with Article 12 letter b ^ter of the AMLA ⁶³ .

The Central Office shall carry out the audits of licence holders itself or have them carried out by an independent and suitably qualified person (audit agent).

Article 24 a paragraphs 2 and 3, Article 25 paragraph 1, Articles 29 to 33, 34, 36 to 38, 39 paragraph 1, Articles 40, 41, 42 and 42 a of the Financial Market Supervision Act of 22 June 2007 ⁶⁴ (FINMASA) apply by analogy. The audit agents and investigating agents are bound by official secrecy.

The Federal Office for Customs and Border Security ⁶⁵ shall regulate the details of the supervision and audits.

Section 6 Appeals

Art. 43⁶⁶

Orders issued by the Assay Offices and by trade assayers may be contested by way of appeal to the Central Office.

... ⁶⁷

Section 7 Criminal Provisions

1. Offences⁶⁸

a. Fraud⁶⁹

Art. 44

shall be liable to a custodial sentence not exceeding three years or to a monetary penalty. ⁷⁰

Any person who wilfully:

1. submits articles for hallmarking or, for the purpose of sale, makes, commissions or imports, supplies or offers to supply articles under a mark that is liable to be misleading or that is prohibited under this Act, being articles that do not meet the prescribed standard of fineness as precious metal articles or articles not meeting the provisions of this Act, as multi-metal, plated or imitations; or
2. stamps a mark on precious metal articles or multi-metal articles purporting to represent a higher fineness than actually exists,

If the offender acts professionally, he or she shall be liable to a custodial sentence not exceeding three years or to a monetary penalty of at least 30 daily penalty units. ⁷¹

If the offender acts through negligence, he or she shall be liable to a fine not exceeding CHF 50,000. ⁷² Excusable errors committed in the course of the manufacturing process are not classified as negligence.

b. Counterfeiting and falsification of stamps

Art. 45⁷³

shall be liable to a custodial sentence not exceeding three years or to a monetary penalty. ⁷⁴

Any person who wilfully:

1. counterfeits or falsifies Swiss, foreign or international stamps (hallmarks or symbols);
2. uses such marks; or
3. produces, procures or supplies to third parties devices for counterfeiting or falsification of such marks,

If the offender acts through negligence, he or she shall be liable to a fine not exceeding CHF 50,000.

Article 246 of the Swiss Criminal Code ⁷⁵ does not apply.

c. Improper use of stamps

Art. 46⁷⁶

Any person who wilfully makes improper use of official Swiss, foreign or international stamps shall be liable to a custodial sentence not exceeding three years or to a monetary penalty. ⁷⁷

If offender acts through negligence, he or she shall be liable to a fine not exceeding CHF 50,000.

d. Stamp requirements, violation; Misuse of marks and symbols; Alteration of hallmarks

Art. 47⁷⁸

shall be liable to a custodial sentence not exceeding three years or to a monetary penalty. ⁷⁹

Any person who wilfully:

1. places on the market precious metal articles without a fineness mark or without a responsibility mark, melt products without a fineness mark or without a melter’s or assayer’s mark, or watch-cases without a hallmark,
2. issues or places on the market articles as multi-metal articles or plated articles without the required mark or without a responsibility mark,
3. without authorisation, imitates or uses a responsibility mark or a melter’s or assayer’s mark that is not their own,
4. places on the market precious metal articles or melt products on which the fineness mark or the imprint of a hallmark has been altered or removed,

If the offender acts through negligence, he or she shall be liable to a fine not exceeding CHF 50,000.

e. Acts without a licence, failure to comply with the due diligence and documentation duties and the registration duty

Art. 48⁸⁰

Any person who carries out acts requiring a melter's licence, purchase licence or assayer licence as trade assayer without holding one of the aforementioned licences, who fails to comply with the due diligence and documentation duties under Article 31 a paragraph 1 or the registration duty under Article 31 a paragraph 2, shall be liable to a fine.

f. Offences⁸¹ in hawking and in the acquisition of melt material

Art. 49

Any person who contravenes the hawking ban in Articles 23 and 28, Any person who violates the provisions on the acquisition of melt material for their own use, shall be liable to a fine … ⁸² .

g. Unauthorised reproduction of articles

Art. 50

Officers of the Central Office or an Assay Office who make or commission a reproduction of an article submitted to the office shall be liable to a fine … ⁸³ .

Article 40 paragraph 2 is reserved.

2. Offences in the course of business of legal entities and corporations

Art. 51

If offences are committed in the course of business of a legal entity or of a general or limited partnership, the criminal provisions apply to those persons who have or should have acted as governing officers, partners or employees. However, the legal entity or corporation is jointly and severally liable together with the convicted individuals for the payment of any fines imposed or costs awarded.

3. Confiscation

Art. 52

Stamping devices used in violation of this Act shall be forfeited.

In the event of a conviction for fraud in terms of Article 44, the court may order the confiscation of the articles involved in the commission of the offence. The articles in question must be destroyed. Subject to the provisions of the Federal Act of 19 March 2004 ⁸⁴ on the Division of Forfeited Assets, the proceeds from the sale of the metal shall be forfeited to the Confederation. ⁸⁵

4. …

Art. 53⁸⁶

5. Criminal proceedings

Art. 54

... ⁸⁷

The Central Office and the Assay Offices must report any offences that come to their attention to the competent prosecuting authority. … ⁸⁸

6. Administrative offences

a. Criminal liability

Art. 55⁸⁹

Any person who, with intent or negligence, contravenes a provision of this Act or of an implementing ordinance or of a general directive issued on the basis of such provisions or an individual order directed at him or her that makes reference to the penalty under this Article shall be liable to a fine not exceeding CHF 2000.

b. Applicable law and prosecuting authority

Art. 56⁹⁰

The general provisions of the Federal Act of 22 March 1974 ⁹¹ on Administrative Criminal Law (Art. 2–13) apply.

Offences within the meaning of Article 55 shall be prosecuted and judged by the Central Office in accordance with the Federal Act of 22 March 1974 on Administrative Criminal Law. The Assay Offices are obliged to report to the Central Office any administrative offences that come to their attention. The sworn assayers and trade assayers are subject to the same obligation.

7. Offences committed when trading in banking precious metals

a. Activity without a licence

Art. 56a⁹²

Any person who wilfully carries out an activity under Article 42 ^bis paragraph 1 or 3 without a licence shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.

Any person who acts through negligence shall be liable to a fine not exceeding CHF 250,000.

b. Provision of false information

Art. 56b⁹³

Any person who wilfully provides false information to the Central Office or to an audit agent or investigating agent shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.

Any person who acts through negligence shall be liable to a fine not exceeding CHF 250,000.

c. Violations of duties by agents

Art. 56c⁹⁴

Any person who, as an audit agent or investigating agent, wilfully commits a gross violation of his or her duties by making material misrepresentations or concealing material facts in reporting to the Central Office shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.

Any person who acts through negligence shall be liable to a fine not exceeding CHF 250,000.

d. Audit and investigation

Art. 56d⁹⁵

Any person who wilfully fails to have an audit ordered by the Central Office carried out or fails to fulfil the duties incumbent on him or her towards the audit agent or investigating agent shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.

Any person who acts through negligence shall be liable to a fine not exceeding CHF 250,000.

e. Failure to comply with Central Office orders

Art. 56e⁹⁶

Any person who wilfully fails to comply with a legally enforceable ruling issued by the Central Office containing notice of the penalties under this Article or with a decision of the appeal court shall be liable to a fine not exceeding CHF 100,000.

f. Offences in business operations

Art. 56f⁹⁷

The identification of the persons responsible may be dispensed with and the business operation may instead be ordered to pay the fine (Art. 7 of the Federal Act of 22 March 1974⁹⁸ on Administrative Criminal Law) where:

1. the identification of the persons responsible under Article 6 of the Federal Act on Administrative Criminal Law requires investigative measures that are disproportionate relative to the penalty incurred; and
2. a fine not exceeding CHF 50,000 is under consideration for the violations of the criminal provisions under Articles 56a to 56e.

g. Jurisdiction

Art. 56g⁹⁹

The Federal Act of 22 March 1974 ¹⁰⁰ on Administrative Criminal Law applies to the offences under Articles 56 a to 56 e . The prosecuting and adjudicating authority is the Federal Department of Finance.

Where a court judgment has been requested, or where the Federal Department of Finance considers that the requirements for a custodial sentence or a custodial measure are met, the offence is subject to federal jurisdiction. In such a case, the Federal Department of Finance shall refer the files to the Office of the Attorney General of Switzerland for proceedings before the Federal Criminal Court. The referral is deemed to be the bringing of charges. Articles 73 to 83 of the Federal Act on Administrative Criminal Law apply by analogy.

The representatives of the Office of the Attorney General of Switzerland and of the Federal Department of Finance are not required to appear in person at the main hearing.

h. Unification of prosecution

Art. 56h¹⁰¹

Where a criminal case is subject to the jurisdiction of both the Federal Department of Finance and the federal or cantonal courts, the Federal Department of Finance may order the prosecution to be unified under the prosecuting authority already dealing with the case, provided there is a close factual connection, the case is not yet pending before the competent court and the unification does not unreasonably delay the ongoing proceedings.

The Appeals Chamber of the Federal Criminal Court shall decide on any disputes between the Federal Department of Finance and the Office of the Attorney General of Switzerland or the cantonal authorities.

i. Limitation
period

Art. 56i¹⁰²

The prosecution of contraventions under Articles 56 a to 56 e is subject to a limitation period of seven years.

Section 8 Transitional and Final Provisions

Transitional provisions

Art. 57

Domestic articles that are already manufactured at the time of this Act coming into force and which satisfy the previously applicable provisions but not the provisions of this Act may be submitted to an Assay Office within one year for the application of a transitional stamp. This transitional stamp shall entitle the owner of the article to sell it for a further three years. More precise provisions in this respect shall be drawn up by the Federal Council.

... ¹⁰³

Repeal of existing enactments

Art. 58

On commencement of this Act, all previous enactments that are contradictory to the provisions hereof are repealed.

In particular, the Federal Act of 23 December 1880 ¹⁰⁴ on the Assaying and Guarantee of the Fineness of Gold and Silver Articles and the Supplementary Act of 21 December 1886 ¹⁰⁵ as well as the Federal Act of 17 June 1886 ¹⁰⁶ on the Trade in Gold and Silver Waste Products are repealed.

Commencement and execution

Art. 59

The Federal Council shall determine the date of commencement of this Act.

It shall issue the regulations required for the execution hereof. Commencement date: 1 July 1934 ¹⁰⁷

Final provision to the amendment of 17 June 1994¹⁰⁸

Articles that were manufactured before the commencement of the Amendment of 17 June 1994 and which satisfy the previous but not the new provisions may be placed on the market on a commercial basis for a maximum of one year after commencement of this Amendment.

Final provision to the amendment of 15 June 2018¹⁰⁹

Trade assayers and group companies that, at the time of entry into force of the amendment of 15 June 2018, have a licence from FINMA in accordance with Article 14 of the AMLA ¹¹⁰ in the version of 1 January 2009 ¹¹¹ must appoint an audit firm licensed by the Federal Audit Oversight Authority in accordance with Article 9 a of the Federal Act of 16 December 2005 ¹¹² on the Licensing and Oversight of Auditors to conduct an audit in accordance with Article 24 of the FINMASA ¹¹³ .

Trade assayers and group companies that, at the time of entry into force of the amendment of 15 June 2018, are affiliated to a recognised self-regulatory organisation in accordance with Article 24 of the AMLA shall remain subject to its supervision.

Final provisions to the amendment of 19 March 2021¹¹⁴

No purchase licence or registration is required for the commercial purchase of melt material within the meaning of Article 1 paragraph 3 letter b or c for the first twelve months after the amendment of 19 March 2021 enters into force.

Trade assayers and group companies that are newly subject to a licence requirement in accordance with Article 42 ^bis when this amendment enters into force must comply with the requirements of this Act and submit a licence application to the Central Office within three months of this amendment coming into force. Together with their application, they must in particular submit the last few years' audit reports on compliance with the duties under Chapter 2 of the AMLA ¹¹⁵ . They may continue their activity until a decision has been made concerning the licence

Annex 1¹¹⁶

(Art. 2 para. 2)

Minimum requirements of precious metals layers for plated articles

1.

Thickness:

1. Platings of gold, platinum and palladium: 5 micrometers
2. Platings of silver: 10 micrometers
3. Gold-capped («coiffe or») watch-cases and additional parts: 200 micrometers

2. Fineness

1. Gold: 585 parts per thousand
2. Platinum: 850 parts per thousand
3. Palladium: 500 parts per thousand
4. Silver: 800 parts per thousand

Annex 2¹¹⁷

(Art. 3 para. 2)

Legal standards of fineness for precious metals articles and multi-metal articles

1. The legal standards of fineness are:

for gold:	999 parts per thousand 916 parts per thousand 750 parts per thousand 585 parts per thousand 375 parts per thousand
for silver:	999 parts per thousand 925 parts per thousand 800 parts per thousand
for platinum:	999 parts per thousand 950 parts per thousand 900 parts per thousand 850 parts per thousand
for palladium:	999 parts per thousand 950 parts per thousand 500 parts per thousand

2. For medals, the following standards of fineness also apply:

for gold:	minimum	999 parts per thousand 986 parts per thousand 900 parts per thousand
for silver:	minimum	999 parts per thousand 958 parts per thousand 900 parts per thousand 835 parts per thousand
for platinum:	minimum	999 parts per thousand
for palladium:	minimum	999 parts per thousand