This area is reserved to Members and Observers of the HMC only
Last update: 21/01/2011
The Convention establishes a Standing Committee in which all Contracting States are represented. Each Contracting State is represented by officials from the competent Ministry (usually Trade or Finance) and by representatives of the authorised Assay Offices (as defined in Article 5 of the Convention).
The role of the Standing Committee is to supervise all the activities carried out under the Convention. The tasks of the Standing Committee are :
The Standing Committee can also make either recommendations for the better functioning of the Convention or proposals for amendments to the Convention and its Annexes.
As the Convention is an agreement between countries, and not just Assay Offices, any changes to the Convention and its Annexes must be agreed unanimously and ratified by all Contracting States.
The Standing Committee meets normally twice a year. One of the meetings usually takes place in Geneva (Switzerland), where the Convention Secretariat is located. Each Contracting State has one vote, but decisions are usually taken by consensus. The meetings of the Standing Committee are serviced by the Convention Secretariat, which provides assistance in the functioning of the Committee, maintains documentation and coordinates other activities of the Precious Metals Convention. The Convention Secretariat shares its office and staff with the Secretariat of the Pharmaceutical Inspection Co-operation Scheme (PIC/S).