CURRENCY RESERVE ACT 2020   An Act relating to the legal tender of the South Pacific.   Part 1 — Preliminary   I. Status This Act is a general Act and further amendments to it must meet general amendment requirements. II. Interpretation In this Act, unless otherwise specified — Authority is defined as the Regional Monetary Authority. Currency is defined as forum points which are the legal tender in the South Pacific. External territories is defined as the NationStates region and the Discord server of the South Pacific. Forum is defined as the property of the South Pacific located at "https://tspforums.xyz/'. Officials is defined as the Chairperson and the two Governors of the Regional Monetary Authority. Simple majority is defined as more than half of those voting, excluding abstentions, voting in favour. Supermajority is defined as more than two-thirds of those voting, excluding abstentions, voting in favour. The South Pacific is defined as the forum of the South Pacific.   Part 2 — Currency   I. Monetary unit (1) The monetary unit of the South Pacific is the Dramatic Llama. (2) The abbreviated form of the Dramatic Llama is "DL". II. Denomination (1) The denomination of money is the Drama Llama and the Pensive Llama. a. One Drama Llama is the equivalent worth of two Pensive Llamas. b. The NationStates equivalent is the Maxtopian dollar. One Drama Llama is the equivalent worth of five Maxtopian dollars. III. Use of the Dramatic Llama (1) All monetary transactions in the South Pacific shall be recorded, expressed, and settled in Dramatic Llamas. (2) Monetary transactions in the external territories of the South Pacific may be recorded, expressed, and settled in Dramatic Llamas.   Part 3 — Regional Monetary Authority   I. Establishment (1) The Regional Monetary Authority is responsible for the financial policy of the South Pacific. (2) The Authority is an independent body. II. Function (1) The Authority has the power to determine the payment system of the government and take any such action as is required to ensure the proper functioning of the system. III. Composition (1) The Authority shall comprise of – a. a Chairperson; and b. two Governors. (2) The officials shall be nominated by the Prime Minister for a term of four months and confirmed by the Assembly with a simple majority. (3) Officials shall be removed from their position if they — a. are recalled by the Assembly with a supermajority; or b. resign in writing to the Chair of the Assembly.

(This post was last modified: 07-26-2019, 06:57 AM by Amerion.)

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LEGISLATION HISTORY

Act	Number	Date	Purpose	Debate	Vote
Currency Reserve Act 2020	AB.2001.01	08 January 2020	An Act relating to the legal tender of the South Pacific.	Debate thread	Vote thread
Currency Reserve Amendment (Monetary Authority) Act 2020	AB.2002.05	26 February 2020	An Act to amend legislation relating to a monetary authority, and for other purposes.	Debate thread	Vote thread

(This post was last modified: 07-26-2019, 08:02 AM by Amerion.)

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CURRENCY RESERVE ACT 2020 An Act relating to the legal tender of the South Pacific. Part 1 — Preliminary I. Status This Act is a constitutional Act and further amendments to it must meet constitutional amendment requirements. II. Interpretation In this Act, unless otherwise specified — Currency is defined as forum points which are the legal tender in the South Pacific. External territories is defined as the NationStates region and the Discord server of the South Pacific. Forum is defined as the property of the South Pacific located at "https://tspforums.xyz/'. The South Pacific is defined as the forum of the South Pacific. Part 2 — Currency I. Monetary unit (1) The monetary unit of the South Pacific is the Dramatic Llama. (2) The abbreviated form of the Dramatic Llama is "DL". II. Denomination (1) The denomination of money is the Drama Llama and the Pensive Llama. a. One Drama Llama is the equivalent worth of two Pensive Llamas. b. The NationStates equivalent is the Maxtopian dollar. One Drama Llama is the equivalent worth of five Maxtopian dollars. III. Use of the Dramatic Llama (1) All monetary transactions in the South Pacific shall be recorded, expressed, and settled in Dramatic Llamas. (2) Monetary transactions in the external territories of the South Pacific may be recorded, expressed, and settled in Dramatic Llamas.

INFORMATION

Category	Number	Date	Debate	Vote	Ayes	Nays	Abstentions
Original Act	AB.2001.01	08 January 2020	Debate thread	Vote thread	28	4	6

(This post was last modified: 07-26-2019, 08:29 AM by Amerion.)

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CURRENCY RESERVE AMENDMENT (MONETARY AUTHORITY) ACT 2020 An Act to amend legislation relating to a monetary authority, and for other purposes. Part 1 — Preliminary I. Status This Act is an amendment to a constitutional Act and must meet constitutional amendment requirements. Schedule 1 — Amendment I. Explanation of format (1) The Currency Reserve Act 2020 shall be amended as follows — a. Black text indicates the existing text; b. Green text indicates words to be added; and c. Red text with a strikethrough indicates words to be removed. CURRENCY RESERVE ACT 2020 ... Part 1 — Preliminary I. Status This Act is a constitutional Act and further amendments to it must meet constitutional amendment requirements. This Act is a general Act and further amendments to it must meet general amendment requirements. II. Interpretation In this Act, unless otherwise specified — Authority is defined as the Regional Monetary Authority. Currency is defined as forum points which are the legal tender in the South Pacific. External territories is defined as the NationStates region and the Discord server of the South Pacific. Forum is defined as the property of the South Pacific located at "https://tspforums.xyz/'. Officials is defined as the Chairperson and the two Governors of the Regional Monetary Authority. Simple majority is defined as more than half of those voting, excluding abstentions, voting in favour. Supermajority is defined as more than two-thirds of those voting, excluding abstentions, voting in favour. The South Pacific is defined as the forum of the South Pacific. ... Part 3 — Regional Monetary Authority I. Establishment (1) The Regional Monetary Authority is responsible for the financial policy of the South Pacific. (2) The Authority is an independent body. II. Function (1) The Authority has the power to determine the payment system of the government and take any such action as is required to ensure the proper functioning of the system. III. Composition (1) The Authority shall comprise of – a. a Chairperson; and b. two Governors. (2) The officials shall be nominated by the Prime Minister for a term of twelve months and confirmed by the Assembly with a simple majority. (3) Officials shall be removed from their position if they — a. are recalled by the Assembly with a supermajority; or b. resign in writing to the Chair of the Assembly.

INFORMATION

Category	Number	Date	Debate	Vote	Ayes	Nays	Abstentions
Original Act	AB.2002.05	26 February 2020	Debate thread	Vote thread	31	6	7

(This post was last modified: 07-27-2019, 03:12 AM by Amerion.)

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