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Bill: (RP) Formation of the Hobrazian Development Corporation
Details
Submitted by[?]: Hobratsuri Traditisionalisturi Partia
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: September 4900
Description[?]:
| Upon passage of this law, the Hobrazian government will authorize the formation of the Hobrazian Development Corporation using the following charter: Hobrazian Development Corporation Charter Article I. Terms of Incorporation § I. The mission of the Hobrazian Development Corporation (HDC) is to encourage the growth of industry and critical infrastructure in Hobrazia. § II. Upon incorporation the HDC shall have 1,000,000 shares. § III. Shares in the HDC are to be sold in 5% lots according to the following formula: A. 35% to the Hobrazian government. B. 20% to Hobrazian-registered private firms. C. 45% to foreign-owned corporations and governments. § IV. The Hobrazian government shall set the price of shares in the HDC and adminster the sales. 20% of all proceeds shall be payable to the Hobrazian government. § V. 50 years from incorporation, the Hobrazian government shall have the right to purchase back as many shares as desired from foreign investors. The share price will be set according to a fair valuation of the HDC's worth. § VI. 60 years from incorporation, the HDC shall become a publicly-traded company. Article II. Business activities § I. The HDC shall seek to implement vital infrastructure § II. The HDC shall have first right of refusal for any major public works, infrastructure improvement, or service contract proposed by the Hobrazian government. § III. In exchange for such prefernece, the HDC shall offer a 10% discount on all goods and services provided to the Hobrazian government. § IV. The HDC shall be prohibited from oil drilling or refining. However, the HDC may provide services and goods to oil extraction firms. Article III. Governance § I. The first CEO of the HDC is to be chosen by the Hobrazian Ministry of Finance. Subsequent CEOs shall be elected by the Board of Directors. § II. The HDC's Board of Directors will consist of 12 seats: A. 1 seat appointed by the Hobrazian Ministry of Finance. B. 1 seat appointed by the Hobrazian Parliament. C. 10 seats elected by HDC shareholders. Each foreign nation with at least 10% of shares will be designated at least 1 seat. § III. HDC Directors are to have a term of 5 years, and no individual may serve more than 2 terms. Article IV. Investor relations § I. The HDC Board of Directors shall determine a fair dividend. § II. The HDC must have a significant dividend, not to fall below 5% of the company's profits or to exceed 20%. § III. The HDC shall pay a dividend to its shareholders annually. Article V. Dissolution § I. 100 years from incorporation, the HDC shall split into at least 4 separate companies. § II. Companies formed after dissolution shall be publicly-traded. § III. Following dissolution, the Hobrazian government shall sell its shares of the subsequent companies. § IV. The process of dissolution shall be overseen by the Hobrazian Ministry of Finance. Article VI. Amendment § I. This Charter may be amended by a 2/3 vote of the HDC Board of Directors, subject to a simple majority vote of the shareholders. (OOC: The Hobrazian government's stake in the HDC will be represented by the Minister of Finance, and Hobrazia's private industry stake will be represented by the Minister of Trade and Industry.) |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 00:40:51, March 02, 2021 CET | From | Hobratsuri Traditisionalisturi Partia | To | Debating the (RP) Formation of the Hobrazian Development Corporation |
| Message | NOTE: Initial valuation of the HDC will be set at $2bn. Hobrazian government shares: $700mil Hobrazian private shares: $400mil Foreign shares: $900mil TOTAL: $2bn |
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Voting
| Vote | Seats | |
| yes | Total Seats: 100 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 0 |
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