Regional Bank Act
The Regional Bank Act was a bill passed by the Government of the Region of Rineu. The act was passed 9 votes to 4 and established a currency system in Rineu as well as the Region Bank of Rineu.
Content
Article 1.- The Regional Bank of Rineu will be responsible of the Rineu Monetary System. The Regional Bank of Rineu (hereinafter determined as “the Bank”) will act under the duties of this Bill only if the code that allows the functions exist.
Article 2.- The Bank will have the following atributions:
- Emission of the active currency in the regional forum
- Applying the current Financial Policy correctly in all the forms that it establishes.
- Receiving the goods that were seized to a nation by the Regional Court of Justice,
- Reporting the capital that the government is allowed to use.
- Rendering the required information every time the Assembly sees it necessary.
- Making the corresponding deposit to nations that give a public service.
Article 3.- The bank will be led by the Minister of Finance and Economical Development, that will act, when it is referred to the Bank, as the Director. He will be responsible by all the actions that the Bank makes while his administration.
Article 4.- The Prime Minister can make an inspection to the Bank only with a vote by the Assembly that reaches the 66.66%. He will not be authorized to make any transactions in name of the Bank while the inspection is made. When the Prime Minister feels satisfied with his research to the Bank, he has a deadline of 72 hours to communicate the results to the Assembly. If this results satisfy the Assembly, the inspection is concluded. In case that the inform is not of the pleasure of the Assembly, it will proceed under the terms that the law establishes.
