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Act for the Regulation of the Money Supply

 
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Vote on bill
Yes
66%
 66%  [ 4 ]
No
16%
 16%  [ 1 ]
Abstain
16%
 16%  [ 1 ]
Total Votes : 6

Author Message
King Brayden I
His Majesty, The Emperor
His Majesty, The Emperor


Joined: 17 Feb 2011
Posts: 276

PostPosted: Wed Jul 13, 2011 5:20 pm    Post subject: Act for the Regulation of the Money Supply Reply with quote

Noting the need for concrete regulation of the nation's money supply

Be it resolved:
  1. The duty of regulating the Kirkish pound shall be delegated to the Imperial Bank of Kirkland.
  2. Regulating shall include:
    1. Setting the national National Funds Rate (see http://en.wikipedia.org/wiki/Federal_funds_rate for an explanation)
    2. Distributing money minted by the Ministry of Finance.
    3. Acting as a lender of last resort to financial institutions on the verge of bankruptcy.

  3. The Imperial Bank of Kirkland shall act as the holder of all bank accounts that concern the nation of Kirkland. This shall include the holding of the accounts for the Parliament and Imperial Family.
  4. The Imperial Bank of Kirkland shall be overseen by a Board of Governors that is to be lead by the Chairman of the Board of Governors which will be treated as an Under-Secretary position in the Ministry of Finance.
  5. The Board of Governors will include no more than 5 members.
  6. The Board of Governors shall have the power to form internal policy for the Imperial Bank of Kirkland so long as said policies do not conflict with Acts of Parliament or Imperial Decrees.
  7. Members of the Board of Governors will be appointed by the Sovereign.
  8. Members of the Board of Governors shall serve for a term of no more than 4 years. Members of the Board of Governors must wait at least 1 year before being reappointed to the Board of Governors.
  9. The Chairman of the Board of Governors shall be specially appointed to their position by the Sovereign.
  10. Parliament may, in the future, enact legislation that further regulates the actions of the Imperial Bank of Kirkland.



_________________
His Imperial and Most Serene Majesty Brayden I, by the Grace of God, Defender of the Faith, Emperor of Kirkland, King of Kirkland, Grand Duke of Alovia, Duke of Valoria and Symphona, Marquess and Head of the Most Noble and Ancient House of Drown, Earl of Drakon, Sovereign of the Most Noble Order of the Golden Eagle, Sovereign of the Noble Order of the Blue Garter, Sovereign of the Most Honorable Order of the White Stag, Sovereign of the Most Venerable Order of Saint Michael, Sovereign of the Most Excellent Order of the Silver Horn, Sovereign of the Distinguished Order of Merit, Knight of the Golden Eagle, Knight of Saint Thomas
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King Brayden I
His Majesty, The Emperor
His Majesty, The Emperor


Joined: 17 Feb 2011
Posts: 276

PostPosted: Wed Jul 13, 2011 7:53 pm    Post subject: Reply with quote

All the votes being in and there being more yes votes than no votes the bill passes. The Act for the Regulation of the Money Supply is adopted.

Final Vote: 4 yes, 1 no, 1 abstain

By the power vested in me by God and the Constitution I sign this bill into law.



_________________
His Imperial and Most Serene Majesty Brayden I, by the Grace of God, Defender of the Faith, Emperor of Kirkland, King of Kirkland, Grand Duke of Alovia, Duke of Valoria and Symphona, Marquess and Head of the Most Noble and Ancient House of Drown, Earl of Drakon, Sovereign of the Most Noble Order of the Golden Eagle, Sovereign of the Noble Order of the Blue Garter, Sovereign of the Most Honorable Order of the White Stag, Sovereign of the Most Venerable Order of Saint Michael, Sovereign of the Most Excellent Order of the Silver Horn, Sovereign of the Distinguished Order of Merit, Knight of the Golden Eagle, Knight of Saint Thomas
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