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you are here: > United Britain
> Article 52
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5. National Objects
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| Article 52-Treasury | ||
| 52.1 | Treasury | |
| The Nation Treasury shall be the principal financial organization of the Nation. It shall function in accordance with the annexed Statute, which is based upon the Statute of the Permanent Nation Treasury and forms an integral part of the present Charter. It shall have legal personality. | ||
| 52.2 | Membership of Nation Treasury | |
| All Members of the Nation are ipso facto parties to the Statute of the Permanent Nation Treasury. | ||
| A state which is not a Member of the Nation may become a party to the Statute of the Permanent Nation Treasury on conditions to be determined in each case by the Congress upon the recommendation of the President. | ||
| All international laws and commercial agreements concerning areas as defined as being within the scope and authority of the Nation Treasury shall by default be subservient and the responsibility of the Nation Treasury. | ||
| 52.3 | Purpose of Nation Treasury | |
| The purposes of the Nation Treasury are: | ||
| (a) To provide the necessary instruments and mechanisms to maintain a single universal monetary unit known as the Sovereign Credit. To enable all financial matters and transactions for all Member States to be able to be defined according to this single Nation currency unit. | ||
| (b) To promote monetary cooperation through a permanent institution representing all Member States of the Nation which provides the machinery for consultation and collaboration on international monetary problems of United Britain. | ||
| (c) To facilitate the expansion and balanced growth of trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all Member States as primary objectives of economic policy of United Britain. | ||
| (d) To cooperate with the International Treasury as part of the reform of the United Nations. | ||
| (e) To promote exchange stability, to maintain orderly exchange arrangements among Members, and to avoid competitive exchange depreciation. | ||
| (f) To assist in the establishment of a multilateral system of payments in respect of current transactions between Members and in the elimination of foreign exchange restrictions which hamper the growth of trade within the Nation. To provide the transaction and clearing house mechanisms for trade and financial arrangements between Member States of the Nation. | ||
| (g) To provide treasury facilities on behalf of Provinces and territories for the deposit of their foreign currency reserves that are not otherwise committed to the budget needs of a Member State. | ||
| (h) To provide a co-operative framework between the principle Treasury and Financial organizations of each Member State such that optimum and stable policies may be in place for each state in regards to prices, wages, unemployment, growth, debt and investment. | ||
| (i) To promote the stability of prices, markets and private enterprise through systems enabling the reduction in the insurance and liability burden of Member States through insurance underwriting and agreements on reinsurance, risk standards, claims payments and premiums. | ||
| (j) To protect and help rebuild communities and infrastructure assets through the promotion of disaster planning standards and policies as well as such organizations and agencies that are necessary to ensure immediate disaster relief assistance and plans exist for every single community in every single Member State of the Nation. | ||
| (k) To give confidence to Members by making the general resources of the Nation Treasury temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of government budget payments without resorting to measures destructive of national or international prosperity. | ||
| (j) In accordance with the above, to assist the Nation in the achievement of its purposes and principle objectives. | ||
| 52.4 | Organizations of the Nation Treasury | |
| In order to fulfill its primary objectives, the Nation Treasury shall comprise of the following permanent organizations and any such other organizations deemed necessary by amendment to this Charter: | ||
Society of United Britain Reserve (the Nation Reserve) Society of United Britain Exchange Society of United Britain Disaster Relief Fund Society of United Britain Bank for Reconstruction and Development Society of United Britain Insurance Fund Society of United Britain Government Budget Agency Society of United Britain Finance Corporation Society of United Britain Center for Settlement of Investment Disputes (ICSID) |
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| 52.5 | Standard Nation Accounts | |
| Each Member State and Province of the Nation shall be provided a single set of standard accounts by the Nation Treasury which represents their own financially related accounts. These shall be called Nation Treasury Member Accounts. | ||
| The standard Nation Treasury Member Accounts provided to each Member shall comprise of the following accounts and any such other accounts deemed necessary by amendment to this Charter: | ||
| Credit Deposit Account, Credit Exchange Account, Credit Investment Account, Credit Debt Account, Credit Contribution Account, Credit Relief Account. | ||
| The Credit Deposit Account shall be the standard account by which all currency deposits by Member States shall be uniquely identified. A Member State shall have only one Credit Deposit Account. | ||
| The Credit Exchange Account shall be the standard account by which all currency exchange and payments by Member States shall be uniquely identified. All Member States are expected to maintain sufficient balance in their Credit Exchange Account to cover all confirmed payments and short term financial obligations. A Member State shall have only one Credit Exchange Account. | ||
| The Credit Investment Account shall be the standard account by which all long-term currency deposits and investments by Member States shall be uniquely identified. A Member State shall have only one Credit Investment Account. | ||
| The Credit Debt Account shall be the standard account by which all long-term currency loans by Member States shall be uniquely identified. A Member State shall have only one Credit Debt Account. | ||
| The Credit Contribution Account shall be the standard account by which all currency donations by Member States to the Nation shall be uniquely identified. A Member State shall have only one Credit Contribution Account. | ||
| The Credit Relief Account shall be the standard account by which all currency relief and aid money for Member States shall be uniquely identified. A Member State shall have only one Credit Relief Account. | ||
| 52.6 | Proper Account Authorization | |
| By this Charter, each Member State and their related financial organizations shall have ultimate authorization for the deposit and withdrawal of funds from any of their standard accounts. | ||
| No power by this Charter shall be permitted to interfere with the right of a Member State to their standard accounts except under a vote of emergency powers of the Congress. | ||
| 52.7 | Emergency temporary powers of authority over accounts of Member State | |
| Under extreme circumstances, by this Charter and with a vote of either the Congress or the Senate shall be granted temporary executive power over the standard accounts of a Member State. In such circumstances that it is deemed the good governance and financial conduct of a state is under serious threat control shall be given to the Senate to temporarily halt a Members account authorization. | ||
| Such emergency powers shall be limited by a clause restoring full control of accounts to a Member State. No resolution or act shall permit the ongoing suspension of a Member State's standard accounts for longer than sixty (60) days. | ||
| 52.8 | Absorption of existing organizations into Nation Treasury structure | |
| By the authority of this Charter, all existing entities and central banks that provide services in part or whole to the Members of the Nation, excepting those related to the Nation, shall be absorbed into the organizations and structure of the Nation Treasury. | ||
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