GOVHOK > Legislation > Act of Economics

Act of Economics

Important notice: This Act of Law, Royal Order or Territorial Order is no longer enforced within the State of Hokoria.

Summary

The Act of Economics states how the economy of the State of Hokoria should be managed.

Details

Date enacted:

Current version:

Approved by:

27th April 2023

Not in force

Aaron I

Act of Law

Section 0
This act of law of Hokoria is enforceable by the Central Government of Hokoria, as per the Declaration of Independence.
Section 1
All transactions that use the Central Banking System of the State of Hokoria are limited to a maximum of 500 HKM and a minimum of 0.01 HKM per transaction.
Section 2
The Central Government of Hokoria may impose taxes on particular transactions.
Section 3
The Central Government of Hokoria must oversee and monitor all transactions that utilise the Central Banking System of the State of Hokoria.
Section 4
Any international transactions may use currencies other than the Hokorian Mikomi (HKM).
Section 5
Any physical tender must not be counted on the Central Banking System of the State of Hokoria unless in the possession of the Head of State of the State of Hokoria.
Section 6
There must always be at least 10 HKM printed as physical tender at all times.
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