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Bill: Bill NP-174:Central bank administation act
Details
Submitted by[?]: National Progress 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: July 4850
Description[?]:
| (This bill was proposed by the minsiter of Finance Kristina Palmer) The Hutorian Federal Reserve Bank should be more more accountable. By creating a clear process by which the executive board of the central bank is choosen we can ensure that the central bank is still acountable to the public without directly interfiring in it's decisions. Part 1: Nomination and removal of the director and the members of the executive board Article 1) The Hutorian Federal Reserve Bank shall have one director and eight members of the executive board. Article 2.1)The director of the Hutorian Federal Reserve Bank and the members of the executive board shall be choosen by the minister of Finance. Article 2.2) The choice of the minister of Finance shall be approve by the Prime Minister, the President and the parliament of Hutori before it come into force Article 2.3) The director and the eight ember of the executive board shall be elected for a 3 three years term that can only be renewed a maximum of one time. Article 3) The director of the Hutorian Federal Reserve Bank and the members of the executive board can be remove from office by a simple majority vote from the parliament. Part 2: Interim director and interim members of the executive board Article 4.1) If for some reason a vacancy occur in one of the nine position of the Hutorian Federal Reserve Bank, the minister of Finance shall have the right to nominate a interim at the vacant postion. Article 4.2) The interim shall be approve by both the President and the Prime Minister before it come into force. Article 5) The interim shall only last for six month and it can't be renewed. Part 3: Accountability Article 6.1: The director of the central bank shall have the responsibility to write a report to the parliament once every two month detailing the decision of the central bank. This report shall be made available to all members of parliament, Article 6.2: The report shall remain confidential and any members of parliament who share the reports to the public shall be convicted for felony. Article 3: The parliament shall have the power to remove the confidientality of the report if it deem it necessary. |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is an entirely independent agency of the government.
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 but does not otherwise interfere in its operations.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 270 | ||||
| no | Total Seats: 135 | ||||
| abstain |
Total Seats: 0 |
| Random fact: Treaties will be eligible for deletion if they are more than 50 in-game years old and have no currently ratified members. |
| Random quote: "Politics is all about compromises and negotiations, nothing more, nothing less." - Augusto Amadeo, former Istalian politician |