Klaasoft Funding and Prosperity Act

The Act

Title 1: General provisions

1. The Klaasoft Corporation is public-private business entity registered under Klaasiyan law.
2. The Klaasoft Corporation may acquire, control, or invest in any other business entities subject to a two-thirds majority of its Board of Governance.
3. The Board of Governance shall oversee the management and major decisions of the Klaasoft Corporation.
4. 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
5. 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.
6. 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

1. The Klaasoft Corporation shall create, develop, distribute and re-distribute hardware and software products and services.
2. The Klaasoft Corporation shall be headquartered at Borders Bay.
3. The Klaasoft Corporation shall have a secondary headquarters at Lindstöm City.
4. The Klaasoft Corporation may have any other such offices as the Board of Governance may decide.
5. 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.
6. 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

1. The equity of the Klaasoft Corporation shall consist of a publicly owned part and a privately owned part.
2. 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.
3. The publicly owned part of the Klaasoft Corporation shall be held in the name of Klaasiya.
4. 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

1. The Board of Governance shall approve and maintain a code of ethics that applies to all employees, and the Board itself.
2. The President may annul the code of ethics, in which case the Board shall draft a new code.
3. 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.
4. 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 following 7 members to the committee:

Party	Committee member			Committee assignment
		Angela Novaistorya		Chair
Democratic Party		Lily Inkwell		Vice Chair
		Saan Bathaalf		Member
		Harry Griffaan		Member
Democratic Party		Elena Rekordia		Member
		Orah Drag		Member
WPU		Theodor Llamaan		Member