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Bill: OCC (RP) : Malivia Central Bank Oversight and Regulation Act
Details
Submitted by[?]: Unity Labour Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 4259
Description[?]:
| This bill enables Government to appoint a management of of the central bank which in principle will be voted on by Parliament for approval to which will direct the state monetary policy which is not limited to but includes loans to commercial banks within Malivia, setting commercial interest rates and sale of bonds . Article 1: The executive of the Central Bank is made up of 8 persons Headed by the Chairman and Deputy Chairman, Manager, two representatives for commercial banks and a representative appointed by the Opposition Leader , a representative of International Bank of Terra and a representative of the Central Bank of Artania Union Article 2: The Chairman and Deputy Chairman of the Central Bank has total oversight over the operations of the Central Bank of Malivia Article 3: The Prime Minister or Minister of Finance has the power to appoint the Chairman and Deputy Chairman of the Central Bank of Malivia Article 4: The Chairman and Deputy appointments are only approved through a majority vote in Parliament. Where there is a tie, the President of Malivia has the discretion whether to allow those appointments to be approved. Article 5: The Chairman of the Central Bank gives annual bank reports to the Minister of Finance and Prime Minister on the bank's performance and economic performance of Malivia. Article 6: All members of the managerial board of the Central Bank has a contract tenure of 8 years which can be renewed. Article 7: All members of the board can be fired except the Chairman and Deputy Chairman through a majority vote in Parliament. Article 8: The Chairman and Deputy Chairman employment can be revoked by the Prime Minister only. |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is underneath the direct oversight of the Ministry of Finance.
Current: The central bank is an entirely independent agency of the government.
Proposed: The government appoints the head of the central bank and an executive board to manage the central bank and can interfere with its operations.
Debate
These messages have been posted to debate on this bill:
| Date | 06:44:33, August 19, 2017 CET | From | Unity Labour Party | To | Debating the OCC (RP) : Malivia Central Bank Oversight and Regulation Act |
| Message | This bill enables Government to appoint a management of of the central bank which in principle will be voted on by Parliament for approval to which will direct the state monetary policy which is not limited to but includes loans to commercial banks within Malivia, setting commercial interest rates and sale of bonds . |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 276 | |||
| no |
Total Seats: 107 | |||
| abstain | Total Seats: 67 |
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| Random quote: "Victory attained by violence is tantamount to a defeat, for it is momentary." - Mahatma Gandhi |