Post by Old Zealand Founder on Apr 16, 2020 22:15:40 GMT 8
CENTRAL BANK ACT
Article 1
1. The Old Zealand Dollar (OZD, $) shall be established as Old Zealand's regional currency. It may be used by other regions as well, but only with explicit permission from either the Founder or the President.
2. All citizens of Old Zealand and those of regions using the Old Zealand Dollar may freely spend the Old Zealand Dollar on any product or service they wish. All transactions must be reported to a higher authority, who shall then report it to the Central Bank of Old Zealand.
3. All citizens of Old Zealand and those of regions using the Old Zealand Dollar must give a tax of 2% of their current balance to the Central Bank of Old Zealand every 1st of the month. This shall be conducted automatically and all people shall be contacted about it. If their balance is different than the balance recorded by the bank at the time of taxation, they shall be guilty of tax fraud.
4. All major government officials are mandated to have a monthly salary, as follows:
5. There shall only be a certain amount of Old Zealand Dollars in the economy at one time to detect counterfeiting and to regulate inflation. Any nation caught creating new Old Zealand Dollars without the explicit consent of the Central Bank of Old Zealand shall be guilty of counterfeiting.
Article 2
1. The Central Bank of Old Zealand shall be established. It will have full control over the creation of new Old Zealand Dollars, which regions have access to the Old Zealand Dollar, and the implementation of taxes and salaries.
2. The Central Bank of Old Zealand shall be headed by a Chairperson, who is automatically the Secretary of the Treasury unless he or she explicitly grants the position. The Chairperson shall have full control over the Central Bank of Old Zealand.
1. The Old Zealand Dollar (OZD, $) shall be established as Old Zealand's regional currency. It may be used by other regions as well, but only with explicit permission from either the Founder or the President.
2. All citizens of Old Zealand and those of regions using the Old Zealand Dollar may freely spend the Old Zealand Dollar on any product or service they wish. All transactions must be reported to a higher authority, who shall then report it to the Central Bank of Old Zealand.
3. All citizens of Old Zealand and those of regions using the Old Zealand Dollar must give a tax of 2% of their current balance to the Central Bank of Old Zealand every 1st of the month. This shall be conducted automatically and all people shall be contacted about it. If their balance is different than the balance recorded by the bank at the time of taxation, they shall be guilty of tax fraud.
4. All major government officials are mandated to have a monthly salary, as follows:
- President: $2,500
- Vice President: $2,000
- Senator: $1,500
- Secretary: $1,000
5. There shall only be a certain amount of Old Zealand Dollars in the economy at one time to detect counterfeiting and to regulate inflation. Any nation caught creating new Old Zealand Dollars without the explicit consent of the Central Bank of Old Zealand shall be guilty of counterfeiting.
Article 2
1. The Central Bank of Old Zealand shall be established. It will have full control over the creation of new Old Zealand Dollars, which regions have access to the Old Zealand Dollar, and the implementation of taxes and salaries.
2. The Central Bank of Old Zealand shall be headed by a Chairperson, who is automatically the Secretary of the Treasury unless he or she explicitly grants the position. The Chairperson shall have full control over the Central Bank of Old Zealand.