Poll: Vote on bill
This poll is closed.
Yes 71.43% 5 71.43%
No 14.29% 1 14.29%
Abstain 14.29% 1 14.29%
Total 7 vote(s) 100%
* You voted for this item. [Show Results]

Social Buttons
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Economic Stabilisation Act of 2011
Author Message
Emperor_Brayden Offline
His Majesty the Emperor
*******

Posts: 72
Joined: Sep 2011
Post: #1
Economic Stabilisation Act of 2011
Be it resolved by The Emperor's Most Excellent Majesty, by and with the advice and consent of the Lords Temporal in this present Parliament assembled, and by the authority of the same, as follows:

  1. The current Kirkish pound is to be retired as the official currency of Kirkland
  2. The new Kirkish Pound shall be issued as the currency of Kirkland.
  3. Anyone, including businesses and corporations, with less than one-thousand old Kirkish Pounds may exchange their old currency for the new currency at a rate of 1 new pound for 30 old pounds.
    1. Nobles with more than one-thousand old Pounds shall not be entitled to exchange their currency.
    2. Non-nobles, including businesses and corporations, with more than one-thousand old pounds may exchange their currency up to the one-thousand pound limit.
  4. Nobles, upon being granted their title shall be granted a one-time allowance that shall be issued based on the title with which they are bestowed.
    1. The categories shall be as follows (is in new Kirkish Pounds):
      • Knight/Life Baron - 150
      • Hereditary Baron/Viscount - 200
      • Earl/Marquess - 250
      • Duke - 300
      • Grand Duke - 350
    2. For each title a current noble hold they shall receive the proper allowance they are owed up to a total of 1000 new Pounds.
  5. The 1st Bank of Kirkland shall be nationalised and placed under the direct supervision of the Ministry of Finance
    1. The corporate system of the bank shall be left intact and may not be tampered with by the government.
    2. Everyone, both citizen and noble, seeking employment of any kind, private or governmental, shall be required to open an account with the 1st Bank of Kirkland.
    3. All transactions that an individual makes using the Kirkish Pound shall be required to be recorded in their bank account.
      1. Credits to an individual's personal account may be made by the paying party and are considered binding upon the posting of the payment.
      2. Debits to an individual's personal account may only be made by the individual who's money is being removed from the account. This is to prevent illegal removal of funds from personal accounts without the known authority of the individual who owns the account.
      3. Individuals shall receive their pay for work done through their bank account.
    4. Bank account information will be used by the government of Kirkland at the end of a fiscal year to determine the taxes owed by and individual in accordance with tax legislation.
    5. Taxes to be removed shall be permitted to be removed by the government without the prior authorization of the individual who owns the account in order to prevent underpayment or fraud by the individual.
  6. The bank accounts of the Government of Kirkland and the Sovereign shall be held solely by the Imperial Bank of Kirkland.
  7. The Sovereign shall receive a yearly salary of 750 Kirkish Pounds to be paid monthly. The amount paid monthly will equal 62.50 Pounds.
  8. The Imperial Bank of Kirkland shall be the only financial entity permitted to mint and print money. This power may not be delegated to another authority by the Imperial Bank of Kirkland without prior approval of the Sovereign or Parliament.
22-09-2011 04:25 PM
Find all posts by this user
Emperor_Brayden Offline
His Majesty the Emperor
*******

Posts: 72
Joined: Sep 2011
Post: #2
RE: Economic Stabilisation Act of 2011
A majority of the votes having been cast in favour of passage the bill passes. The Economic Stabilisation Act of 2011 is adopted.

Final vote: 5 yes, 1 no, 2 abstain

By the power vested in me by God and the Constitution I sign this bill into law.
23-09-2011 08:17 PM
Find all posts by this user


Forum Jump:


User(s) browsing this thread: