Klaasoft Funding and Prosperity Act

The Act

Title 1: General provisions

The Klaasoft Corporation is public-private business entity registered under Klaasiyan law.
The Klaasoft Corporation may acquire, control, or invest in any other business entities subject to a two-thirds majority of its Board of Governance.
The Board of Governance shall oversee the management and major decisions of the Klaasoft Corporation.
The Board of Governance shall consist of:
1. a Chair, appointed by the President.
2. a Vice Chair, appointed by the Minister of the Exchequer of the Imperial Bank, or another official operating on behalf of the Imperial Bank
3. One member appointed by an official operating on behalf of the St. Andre Trading Company
In the absence or refusal of an appointment of the Board of Governance, the Senate shall appoint interim office holders to carry the Board's functions.
The day-to-day operations of the Klaasoft Corporation shall be administered by its Chief Operating Officer, and any such inferior officers as he or she may appoint.

Title 2: Business activities

The Klaasoft Corporation shall create, develop, distribute and re-distribute hardware and software products and services.
The Klaasoft Corporation shall be headquartered at Borders Bay.
The Klaasoft Corporation shall have a secondary headquarters at Lindstöm City.
The Klaasoft Corporation may have any other such offices as the Board of Governance may decide.
The Klaasoft Corporation may be commissioned by the President, the National Assembly, the Senate, the Emperor or the Frenzy to produce products and services at cost value price.
1. The President may waive such requirement by approving a petition by the Board of Governance.
From time to time, the Klaasoft Corporation shall produce analyses on the hardware and software security of Klaasiya and the Empire. Demesnes may be offered such analyses as a paid service.

Title 3: Funding

The equity of the Klaasoft Corporation shall consist of a publicly owned part and a privately owned part.
The publicly owned part of the Klaasoft Corporation may not exceed 33% at any given time, except in a time-limited response to an emergency.
The publicly owned part of the Klaasoft Corporation shall be held in the name of Klaasiya.
The Board of Governance may establish the rules, procedures and criteria required to purchase private shares of the corporation. Such rules, procedures and criteria may not be altered retroactively, except with the approval of the President.

Title 4: Ethics

The Board of Governance shall approve and maintain a code of ethics that applies to all employees, and the Board itself.
The President may annul the code of ethics, in which case the Board shall draft a new code.
The Klaasoft Corporation shall disclose publicly any activities that may be of public interest, except when doing so would infringe on the rights and liberties of the people involved.
The President may from time to time require the Board to present documents for the purposes of inspecting the economic and financial wellbeing of the corporation.

Legislative history

National Assembly

On 8 Tasnember 1694 AN, the National Assembly passed a motion by a 71-21 vote to grant Chair Glen Penhela authority to appoint a committee to draft the Klaasoft Funding and Prosperity Act. On the same day, the Assembly Chair appointed the Committee's 7 committe members from among the National Assembly membership. On 12 Liebluary 1695 AN, the Committee voted 6-1 to proceed with the first draft of the bill, presented by Chair Angela Novaistorya and co-written by herself and Vice Chair Lily Inkwell. The sole opposing member, Workers' Parties United's Theodor Llamaan, opposed the draft for allowing a majority private ownership of the corporation.

Party		Committee assignment	Final vote
	Angela Novaistorya	Chair	YES
Democratic Party	Lily Inkwell	Vice Chair	YES
	Saan Bathaalf	Member	YES
	Harry Griffaan	Member	YES
Democratic Party	Elena Rekordia	Member	YES
	Orah Drag	Member	YES
WPU	Theodor Llamaan	Member	NO