Act of the Hokorian Mikomi

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

Summary

The Act of the Hokorian Mikomi sets out what the Hokorian Mikomi is and what it is used for.

Date enacted:

Current version:

Approved by:

27th April 2023

Not in force

Aaron I

Section 0
This act of law of Hokoria is enforceable by the Central Government of Hokoria, as per the Declaration of Independence.

Section 1
The only currency to be used for national trade and for other official and business purposes in the State of Hokoria is the Hokorian Mikomi (HKM).

Section 2
The Head of State of the State of Hokoria must approve the creation of any money.

Section 3
The Central Government of Hokoria must not print any notes of the Hokorian Mikomi (HKM) without the authorisation of the Head of State of the State of Hokoria.

Section 4
Notes must only be printed when there is a reasonable demand for physical tender.

Section 5
The Central Government of Hokoria must replace any physical tender when it becomes damaged.

Section 6
The Central Government of Hokoria must release monthly reports on the printing of notes, including statistics on how much has been printed between the beginning and end of the month and how much physical tender is out in circulation.

Section 7
The Central Government of Hokoria must replace any physical tender when it becomes damaged.

Section 8
Any physical tender that is taken out of circulation must be recycled in a way that permanently prevents further use whilst minimising the impact on the environment.

Section 9
Any money that is created without the approval of the Head of State of the State of Hokoria must be taken out of circulation.

Section 10
Creating any money without the approval of the Head of State of the State of Hokoria may result in the detention and prosecution of the individuals that are involved with the creation of any money without approval of the Head of State of the State of Hokoria. This is defined as ‘unauthorised creation of money’.

Section 11
The usage of any currency other than the Hokorian Mikomi (HKM) for national trade and national economics may result in the detention and prosecution of the individuals that are involved with the usage of any currency other than the Hokorian Mikomi (HKM) for national trade and national economics. This is defined as ‘usage of unauthorised currencies’.

Section 12
The Central Government of Hokoria must have, or intend to have, an appointed Branch Officer for the handling of economics, trade and currency.