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Bill: Financial Control Act
Details
Submitted by[?]: [DA] Democratic Alliance 🕊
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: January 4669
Description[?]:
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Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates large, national banks, but small community based private banks are allowed.
Article 2
Proposal[?] to change Government policy on cryptocurrency.
Old value:: The national government leaves policy on cryptocurrency to local governments
Current: The government has no policy on cryptocurrency
Proposed: Cryptocurrency is legal and regulated, select private institutions can issue cryptocurrency.
Article 3
Proposal[?] to change Policy on the charging and collection of interest on loans
Old value:: The government has no policy on the charging of interest on loans
Current: The government has no policy on the charging of interest on loans
Proposed: The central bank determines the policy on charging interest on loans (if one exists)
Article 4
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Current: The central bank is an entirely independent agency of the government.
Proposed: The central bank is underneath the direct oversight of the Ministry of Finance.
Article 5
Proposal[?] to change Reserve requirements for bank loans
Old value:: The government takes no stance on reserve requirements for bank loans.
Current: There are no reserve requirements for bank loans.
Proposed: There is a fractional reserve requirement for bank loans.
Article 6
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed and are unregulated.
Current: The government has no position on the proliferation of stock exchanges.
Proposed: This is left to the local governments.
Article 7
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors may freely invest in national companies.
Current: Foreign investors may freely invest in national companies.
Proposed: Foreign investors may invest in national companies, but may not get a majority share.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||
| yes | Total Seats: 56 | ||
| no | Total Seats: 44 | ||
| abstain | Total Seats: 0 |
| Random fact: Players who deliberately attempt to present a misleading picture of the nation's current RP laws will be subject to sanction. |
| Random quote: "Wherever you have an efficient government, you have a dictatorship." - Harry S. Truman |