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Bill: Dahir 3615/02: Al-Qalb Investment Authority
Details
Submitted by[?]: Justice and Development Party
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: August 3716
Description[?]:
| Section 1 The Commissariats for Finance and that for Industry shall direct the creation of The Al-Qalb Investment Authority (AQIA) Section 2 It is to be sovereign wealth fund charged with investing financial surpluses into the local and other international socialist economies on behalf of the Government of Al-Qalb. Section 3 The AQIA Board shall be led by a Chairman, Vice Chairman and five Directors. > The Chairman - the President of Kafuristan > The Vice-Chairman- Vice President of Kafuristan > Five Directors + > the Chairman of the Council of Commissars > the People's Commissar for Finance > the People's Commissar for Industry > two other technocratic Directors, appointed by the Chairman Section 4 Every fiscal year, 20% of the total budgetary and petrochemical export revenue surpluses are to be transferred to the AQIA. Section 5 The AQIA shall invest no more than 50% of its annual investment in projects outside the Democratic People's Republic. It may invest no more than 40% of the total fund at any given time. Section 6 From January 1, 3716 the new AQIA shall be regarded as the successor to the old Sovereign Wealth Fund and holding all the old SWF's assets estimated at around December 24, 3715 |
Proposals
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | |
| yes | Total Seats: 700 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 0 |
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