Act of Parliament Financial Revisions Act

[Library of Parliament]

Original Legislation:
Passed Bill Link: https://www.cityrp.org/threads/financial-revisions-act.234/
Final Vote: 5-1-1
Ratified: May 20, 2025
Note: This is a duplicative law. It both amends the Financial Institution Establishment Act, but also exists on its own because of the added clause.
Amendments:
Amended July 28, 2025 by the Amendment to the Financial Revisions Act

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Author: Lysander Lyon, MP
Sponsor: Lysander Lyon, MP

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Financial Revisions Act
Preamble: With the pending repeal of the Miscellaneous Changes & Foreign Affairs Omnibus Act, this bill reestablishes the business limits while also changing the tax on bank revenues.

1. Short Title
(a) This bill shall be referred to as the "Financial Revisions Act".
(b) This bill was authored by Lysander Lyon.

2. Business Limits
(a) There shall be no limit on the number of private enterprises a player may own, but each private enterprise must serve a clear and legitimate purpose.
(b) Private enterprises may be forcibly closed by the Ministry of Economic Affairs if they do not serve a clear and legitimate purpose in the eyes of the Ministry.
(i) This does not mean the Ministry can close businesses it seems redundant, but it may close in-game private enterprises if they do not seem to actually be active, and are instead acting as shell companies.

3. Commercial Bank Taxes
(a) The Financial Institution Establishment Act, section 2(a)i, shall be amended to the following: 25% of monthly profits must be paid to the Ministry of Economic Affairs.

Enactment: This Act comes into force immediately upon passage.

 

[Library of Parliament]

Amending Legislation:
Passed Bill Link: https://cityrp.org/threads/amendment-to-the-financial-revisions-act.2070/
Final Vote: 6-0-0
Ratified: July 28, 2025

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Author: Lysander Lyon, MP
Sponsor: Lysander Lyon, MP

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Amendment to the Financial Revisions Act

1. Short Title
(a) This bill shall be referred to as the "Amendment to the Financial Revisions Act".
(b) This bill was authored by Lysander Lyon.

2. Business Limits
The Financial Revisions Act shall have the provisions of Section 2 stricken, and amended to the following:

(a) There shall be no limit on the number of private enterprises a player may own, but each private enterprise must serve a clear and legitimate purpose.
(b) Private enterprises may be forcibly closed by the Ministry of Economic Affairs if they do not serve a clear and legitimate purpose in the eyes of the Ministry.
(i) This does not mean the Ministry can close businesses it seems redundant, but it may close in-game private enterprises if they do not seem to actually be active, and are instead acting as shell companies.

Enactment: This Act comes into force immediately upon passage.