Addition to Economic Implementation Act
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Passed by the Assembly, with 9 votes in approval and 1 in opposition, on Saturday, 19 August 2006.
Repealed 2 February 2007 by the Financial Office Closure Act.
Section 1. All releases of funds from the Republican National Bank must be approved by the Assembly of the Republic of Antica
- (a.) The budget must be approved by a 2/3 vote by the Assembly.
- (b.) A 10p per day fine shall be implemented for any Chief Financial Officer whose office fails to post a budget by the expected deadline.
- (c.) No budget may show an increase on the total amount of allocations above 25% of the previous budget per term, except when a new office is created, at which point a 50% increase is allowed. Inversely, when an office is disbanded, a 10% decrease in the budget is mandatory.
- (d.) Any miscellaneous or spontaneous release of funds, be it Antican or United States currency, must be approved by an Assembly Resolution.
Section 2. The Office of Republican Finance is hereby empowered with the ability to issue loans. No loan may exceed 1,000p.
Section 3. Any decision made by the Chief Financial Officer or their office may be repealed and reversed by a majority vote in the Assembly, or by a resolution.