Economy Act 1586

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Lord Erion
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Joined: Wed Dec 08, 2010 9:12 pm

Economy Act 1586

Post by Lord Erion »

Economy Act

An Act on the Currency and Economy of Elwynn



Chapter 1: Financial system

1. Elwynn reaffirms its status as a signatory of the Standardised Currency and Unified Economy treaty (hereinafter "S.C.U.E."), until further notice.

2. Elwynn reaffirms its use of the systems provided under S.C.U.E. with regards to banking and other ancillary services.

Chapter 2: Currency

3. Elwynn shall continue to use the S.C.U.E. base currency unit, and shall do so under the name of florin.

4. Elwynn shall retain sole authority for the actual or virtual minting of florin coins or the printing of equivalent promissory notes.

5. The issuance of coins and promissory notes may be further regulated by legislative Act as required.

Chapter 3: Final provisions

6. Elwynn shall reserve the right to operate its own Treasury as required.

7. This Act may be cited as the Economy Act.
Act amended in 1604, original reading:
The Senate, acting under the authority of the Seventh Article of the Consensus, hereby adopts

An Act Concerning the Economy and Trade

Economic systems

1. Riqi Adurellion reaffirms its status as a signatory of the Standardised Currency and Unified Economy treaty (hereinafter "S.C.U.E."), until further notice.

2. Riqi Adurellion reaffirms its use of the systems provided under S.C.U.E. with regards to banking and other ancillary services.

Currency

3. Riqi Adurellion shall continue to use the S.C.U.E. base currency unit, and shall do so under the name of Florin, divided into ten Florinettes or one hundred Virnes.

4. Riqi Adurellion shall retain sole authority for the actual or virtual minting of Florin, Florinette and Virne coins, or the printing of equivalent promissory notes, and the respective coins shall be actually or deemed to be composed of gold, silver and bronze, as appropriate.

5. The issuance of coins and promissory notes may be further regulated by Acts of Senate as required.

6. Riqi Adurellion shall reserve the right to operate its own Treasury as required.

Trade

6. Trade may be conducted by businesses, in the form of either sole-traders, partnerships, or companies with liabilities limited by shares, at the discretion of the business founder.

7. All businesses wishing to trade in or from Riqi Adurellion must register with the Ministry responsible for trade, in accordance with any additional regulations that may be issued by the relevant Minister. The Court of the Prince shall retain those responsibilities in the event that no Minister has been appointed.

8. Companies with liabilities limited by shares may be further regulated by Acts of Senate as required.

9. Businesses trading in similar services, commodities or goods may form associations in the form of Trade Guilds, in order to further their trades.

10. Trade Guilds may be further regulated by Acts of Senate as required.
His Imperial Highness Erion of Waffel-Paine,
Prince of Natopia, Prince of Arboria, Duke of New Aquitane, and of the Punkrock Isles, Count of Nerklaa, Count of Augustus, Lord am Baat, Baron Mirkdale, Representative in Frenzy for Arboria, Knight of the Order of the Black Hole, Awardee of the Regent's Medal, MNN.

Kaspar
Posts: 444
Joined: Mon Jan 30, 2012 2:10 am

Re: Proposal for an Economy and Trade Act

Post by Kaspar »

With 3 votes in favour (Erion, Osmani, Dariolin), none against and one vote of neutrality (Soleimân), I declare this bill passed and enacted.
Kaspar Soleimân
EMIR OF SATHRATI
TO ERMO-RA-ARAEZELION

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