Kalistani Law Library- Kalistan Imperial University, Kaliburg, Grand Duchy of Ananto

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Enacting Laws of the Empire of Ananto and Kalistan

Investments Adjustment Act

By Order of Her Imperial Majesty, The Empress Nicolette II Ananto, The following restrictions pertain to the following bill:

Article 1
Foreign Investors may now invest in PRIVATE SECTOR Kalistani corporations, and foreign investment may total more than 50%.
1a. Kalistani Investors must still own the largest single bloc of shares in any private corporation. No foreign Investor may own more shares than the single largest Kalistani investor.
1b. This law will phase in over three years, and will first be open in Year 1 to AESA Members, then in Year 2 to Seleyan Nations and then in Year 3 to the world.

Article 2
Two new private commercial banks may be chartered by Kalistani Investors to provide institutional investors capital to begin investing in securities in foreign nations. The Bank of Suldanor will be Chartered and Headquartered in Sulari Free City, Duchy of Suldanor, and its stock symbol shall be BOS. The Bank of Kalistan will be chartered and Headquartered in Kaliburg/Port Davon Free City, Grand Duchy of Ananto, and its stock symbol will be BOK. Each bank will adopt Investment Bank Best Practices, will be administered by a publicly elected Board of Governors and will have operations overseen by an Imperial Bank of Kalistan-appointed Ombudsman.
2a. The law strictly prohibiting the charging of interest will be repealed. Interest on loans may be charged within all Private banks at no more than 4%, with rates to be determined by actuaries affiliated with the bank.
2b. Both Commercial Banks will be capitalized and underwritten by the Imperial Bank of Kalistan at no more than ₭50,000,000,000, which the Corporation may buy out over time.
2c. Foreign investors may invest in both banks freely, but may never get a majority share in either bank.
2d. Kalistani Investors may borrow money on agreed upon terms, so long as the terms are not overly usurious or exploitative.
2e. Each bank is legally required to conduct itself as a fiduciary interest, and serve the interests of its clients and investors.
2f. The Ombudsmen are required to oversee all lending and investing to ensure that the Bank is operating in accord to the Law of the Empire.
2g. Neither of these commercial banks are open to savings and other individual investments, savings funds or pensions. Both banks are specifically designed to enable stock speculating, currency speculating and other higher risk, higher reward investments and gambles by private institutional actors, and shall be insulated from the Kalistani economy as a whole.

All other regulations to be places on either of these will be added as pen changes below, upon order of Her Imperial Majesty or her duly appointed representatives, and will be considered fully executed amendments.