Central Banking and Market Authorization Act
|Central Banking and Market Authorization Act|
|Enacted by||Open Parliament|
|Date enacted||26 June 2012|
|Date repealed||20 May 2017|
|Introduced on||216 June 2012|
|Introduced by||North American Republics|
|Voting began||19 June 2012|
|Required majority||Simple majority|
|Vote results||8 Yea, 1 Nay, 0 Abstain|
|SLU Modernization Act|
For the creation of a centralized banking institution in the Social Liberal Union to regulate funds within the Social Liberal Union and for the establishment of a forum market.
Section 1: A centralized banking institution is to be created in the Social Liberal Union under the name "Union Reserve".
Section 2: Management of the Union Reserve:
- 2.1. The minister responsible for activities is to appoint a member state of the region as the Chairperson of the Union Reserve.
- 2.2. Under the Chairperson is to be a group of officials whose sole job is to help the Chairperson administrate the Union Reserve. This group is under the direction of the Chairperson and actions taken by this group must be approved by the Chairperson.
- 2.3. The Chairperson of the Union Reserve has the power to modify the monetary reserves of member states as a result of participation in activities, as per a posted table indicating the value of certain activities, and as a result of monetary forces on the forum.
- 2.4. Policy decisions taken by the Union Reserve are not to be understood as policy decisions taken by the government of the Social Liberal Union. Inversely, policy decisions taken by the government of the Social Liberal Union are not to be understood as policy decisions of the Union Reserve.