Diamonds

Replacement of current Royal Decree of 30 April 2004 - the proposed amendments are intended to make the legal basis more effective in light of the Financial Action Task Force evaluation and risk analysis in the diamond sector in 2017 and their resulting recommendations. This includes features such as:

- clarification of definitions, including a reference to synthetic diamonds;

- stricter registration conditions for diamond companies (proof of no criminal record, request for shareholding structure, certificate of professional competence, knowledge of anti-money laundering legislation, etc.);

- clear provisions on suspension or revocation of registration, more periodic screening of registrations (renewal and checking of conditions);

- continued centralisation of formalities in the Diamond Office (in light of possible abolition of diamond permits)

- addition and clarifications for an improved framework to ensure the independence of diamond experts, including reference to a code of ethics and/or conduct, clearer distinction between diamond experts employed at the Antwerp World Diamond Centre and those recognised by the Minister for the Economy;

- items related to the stock declaration (simplification);

- simplification of the selection procedure for diamond experts;

- better and clearer rules for suspension and revocation of diamond expert recognition;

- guidelines on the evaluation of diamond experts.