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Bill: KALMILINCO Authorization Act of 4409
Details
Submitted by[?]: Socialist Party of Kalistan (SPoK)
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: January 4410
Description[?]:
| This Bill hereby formally nationalizes selected Military-Industrial plants in the United Republic of Kalistan, and forms them into a state owned conglomerate known as the Kalistan Military Industrial Company (KALMILINCO). Private Industries which are to expropriated are: Grensuch Avionics, Ltd. (producer of avionics, radar and computers for jet aircraft) Termes, Bretson and Hernandez Partners, LLC, (Munitions Producers) General Automotive Incorporated, (producers of military vehicles like 5 ton trucks, and light personnel carriers) Blonding Firearms, Inc. (Maker of small arms for private and military consumption) OTH Electronics, Ltd. (Producer of Naval Electronics such as radar, sonar and radio sets) Blackfin Group, Ltd. (producer of crew served weapons and munitions) Bethel Brothers Steel Finishers (manufacturer of, among other things, artillery and cannon barrels used in ships) Ananto Air, Inc. (Manufacturers of civilian small aircraft) World Logistics, Inc. (Supplier of most logistic support, including food, clothing, shelter, and basic services like security, food service, and etc. used by the Kalistani Military) This Bill also directs the Finance Minister to allocate funds sufficient to open, fully staff and operate all industries that fall under KALMILINCO, centralizing all clerical and operational aspects, and ensuring that all operations meet the needs of the Kalistani Regular Military. The Ministry of Defense shall oversee the operation and the maintenance of KALMILINCO. All elements produced by KALMILINCO will be first utilized to meet all needs of the Kalistani Regular Military. Any surplus may be sold on the international Market at the regular market price. KALMILINCO will adopt the dual economic system with regard to management. KALMILINCO will be initially capitalized at 10 Billion KRB. 7.5 Billion shares of stock will be publicly traded on world markets. The Kalistani Republican Government will control 51% of all stock released, and the remaining 49% of the stock will be available to be sold with preference to Kalistani investors under the symbol KMC. Foreign investors may not vote in Board of Directors decisions. All Investors in the private companies which are being nationalized at the rate of 80% of the face value of their investment.. Alternatively, previously held stock will be bought back at a rate of 3 to 1 for stock in KMC. Stock sales will be held in escrow and will be used to redeem bonds issued for the expropriated assets after 6 months of operation of KMC. The corporate structure of KALMILINCO shall imitate all other Dual Economy structures, with more than half of all officers hired from existing employees, who themselves are subject to Employee votes of confidence, while the remaining offices are filled by the stockholders, or their representatives on the Board of Directors. The Chief Executive Officer will be directly elected by the Employees of the Company, while the Chief Financial Officer will be appointed by the Stockholders. The Government of Kalistan is hereby prohibited from transference of any of its stock in the company into private ownership or trusteeship. In the event that Kalistan seeks to divest itself of its controlling interest in the firm, the entire company shall be considered liquidated, and all operations of the company shall cease. At which point, all Stock will be purchased of investors and the company shall be liquidated. This Act will be enacted upon receiving an affirmative vote from a majority of the seats in the Chamber of Deputies. The Chamber of Deputies shall enact all laws necessary and proper to the correct operation of this Charter. This Act may be amended by a 2/3rds affirmative vote of the Chamber of Deputies. The full; amended Charter must be included in the description of Amendment Act. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 02:49:40, June 16, 2018 CET | From | Socialist Party of Kalistan (SPoK) | To | Debating the KALMILINCO Authorization Act of 4409 |
| Message | We believe this is necessary to fully rebuild Kalistan's Military and centralize supply processes. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 750 | |||
| no | Total Seats: 0 | |||
| abstain | Total Seats: 0 |
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| Random quote: "In America today, you can murder land for private profit. You can leave the corpse for all to see, and nobody calls the cops." - Paul Brooks |