Economic Laws

Overview
This is the page with all laws in the Republic of Micronesia (RoM) relating to Economics in alphabetical order according to Title Name. Notes of obsolete sections or laws will be put in italics under the law title to help politicians/lawmakers do their job. Click here to return to the RoM Law book Hub."Abbreviations:"


 * PM : Prime Minister
 * DPM : Deputy Prime Minister
 * MP: Member of Parliament
 * SC: Supreme Court

Last Updated: August 21st, 2020

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Alcohol Distribution Act
Passed On: July 5, 2020

Author: Enrique

Signed By: New Netherlands Section A: There will be a limited amount of alcohol producers, regulated by the Government.

Section B:

All current alcohol producers will need to apply for a Distribution License.

Section C:

If you apply for a Distribution License, you get all alcohol sales revenue after taxes.

Section D:

The government may incur alcohol production quotas or production ceilings on alcohol companies.

Section E:

Producing and selling alcohol without a license is classified as a Misdemeanor.

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Minimum Wage Law
Author: Sealanda

Section A

The cnurrent economic climate within the state requires a minimum wage. All employees will be paid for their labor at least once a week. Companies can choose to pay more often and to pay more than the set government minimum.

Section B:

If a company calls for bankruptcy and is protected by the government's economic group, all employees are paid by the government.

Section C:

Every company makes sure that all employees have access to food and have a roof over their head. If not the company should pay an extra 5 Quid a week to them If their salary is on minimum wage.

Section D:

The set minimum is 5Q a week per employee. The owner of the business can pay themselves however much they want.

Section E:

Note that companies can be exempt from paying minimum wage if they sign up under a contracting company. Companies cannot switch between the two.

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sealand x brit :flushed:
Passed On: June 27, 2020

Author: Tsar

This Act will cover the much-needed copyright and patent laws that our nation has been lacking and needs immediately for businesses to feel secure in their endeavors. This applies to all people (not only companies), which is also why it protects inventions! Note: Intellectual Property is just an "umbrella term" for Trademarks, Copyrights, and Patents.

Section A:

A company or citizen may claim a Patent or Copyright on any products or inventions with the Supreme Court.

Subsection 1:
The Court approval process is as follows: showing a Judge what you want Patented/Copyrighted.

Subsection 2:
Patents, Copyrights, and Trademarks can only be approved assuming that the thing being claimed hasn't already been patented, copyrighted, or trademarked by someone else beforehand.

Section B:

If a patent is approved by a Judge, the holder(s) of the patent has exclusive rights on taking credit for the patented item, exclusive production rights, exclusive use outside of sale purposes, creating new products heavily based off of the patented item, and responsibility over the product. They also hold the full legal right to pursue legal action against others who may be violating their patent rights.

Section C:

If a Copyright is approved by a Judge, the holder(s) hold the exclusive right to copy and reproduce the copyrighted material; along with sale distribution rights of any copied goods under the Copyright.

Section D:

Copyright holders can pursue legal action against violators of their Copyright rights.

Section E:

If a holder of a Copyright has an agreement with the original creator (usually the Patent Owner) to sell their goods (eg. book publishers selling an author's literature), they need to gain legal permission by the original creator to create new products based heavily off of the Copyrighted product. At least 25% of all profits from these sorts of creator-distributor/publisher deals have to be given to the creator UNLESS all parties agree on other payment terms/agreements.

Section F:

Multiple parties may agree to share a Patent, Trademark, or Copyright and must all be present in Court for the Intellectual Property to be recognized by the Court during the approval process.

Section G:

Trademarks can be claimed by citizens or companies and are to be approved or denied by the Supreme Court. Trademarks give their holders exclusive use and reproduction rights over registered slogans, and advertising of a Patented or Copyrighted product/service covered by the Trademark. Holders of Trademarks can pursue legal action against violators of their Trademark rights.

Section H:

Trademarks can be denied by the Supreme Court if they use wording that interferes with day-to-day-life or other company's advertising (e.g. a Trademark of the word "computer" won't be approved). However, if these disruptive words are spelled wrong on purpose for advertising reasons, they can be approved (e.g. a Trademark for the misspelled word "compoooter" would be approved).

Section I:

Companies or Organizations that apply for a Copyright or Patent can add one or more "Primary Rights Holder(s)". Primary Rights Holders are the individuals who are considered as the heads of the company/organization.

Subsection 1:
Primary Rights Holders own the Copyrights and/or Patents given to them in the name of the company/organization, and personally keep the Patents and/or Copyrights if they lose their status as the head of the Company/Organization.

Personal & Corporate Grants Act
Passed On: June 4, 2020

Authors: Several IEIP Members (Kai, Sealand), Tsar (Main Author; also part of the IEIP)

Signed By: The International Economy Institute of Polynesia (IEIP), King Friedrich I (Prussia), Britannia, UNB, Beer, Tsar BruhWeld (Adam) This Act will utilize limited and controlled inflation to stimulate the economy by giving both companies and civilians money to spend. These reforms follow the IEIP organization's advice, and are being adopted by all other nations on Polynesia.

Section A:

All citizens can get 200 Quid as stimulus cheques. To receive it, all they have to do is contact anyone with access to the Federal Reserve.

Section B:

A public referendum for the admins to increase starting income from Q500 to Q700 will be posted in announcements chat.

Section B:

Each Company can contact individuals that have access to the Federal Reserve for Q200 in stimulus cheques for corporate investment. They won't get it unless they ask.

Section C:

To encourage hiring of employees, each company can claim Q50 for every TWO employees it has in its company. Note that they cannot get half of that for any less than that. It is strictly locked to two employees for 50 Quid.

Section D:

These grants must be heavily advertised by the Government.

Price Ceiling & Economic Reform Act
What About Netherite?!

Passed On: June 9, 2020

Author: Britannia

Signed By: Tsar This Act Aims to solve unfair pricing, especially at Spawn.

Type: Law

This Act aims to solve Unfair Pricing, Especially at spawn.

Section A:

All items that are unfairly priced must be fairly priced according to this Law or Face Jailtime.

Section B:

All items listed Below MUST be priced as they are or below that price.

Diamond Armour Unenchanted: 1 Quid per diamond used in the crafting process. The following price list is that of a diamond Unenchanted Armor Set for sale at full legal price with all possible diamonds utilized:


 * Boots = 12Q
 * Chest= 24Q
 * Legging= 21Q
 * Helmet= 15Q

This also applies for Diamond Tools and Weapons.

Section C:

All basic items such as sticks, saplings, mob drops, and wooden tools/weapons must be priced below 1 Quid.

Section D:

Meme items must clearly be stated as a MEME item that is purposefully priced at a Meme price like 69.69 or 420.69 or some other price that is a meme. Meme Items cannot be sold at spawn.

Section E:

The Head of Police, or any Supreme Court (SC) Judge can Close a chest shop if the Prices are Clearly Unfair however they must consult others who have the ability and if a majority agree it’s Unfair, it can be closed without a Vote In Parliament.

Subsection 3
The Company can appeal the Chest shop price if they give VALID reason for it to stay open.

Section F:

Spawn MUST be Cleared of all cluttered shops and must be placed in buildings and/or stands. Please note:


 * No shops Near where the direct spawn point is.
 * Only shops inside or slightly outside (1-2 blocks) a Building/Stand.
 * No putting your chest shops in building/shops that aren't yours.

Signed: Minster of Finance Tsar

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Regulation of Contractor Business Act
Passed On: July 9, 2020

Author: Tsar

Signed By: New Netherlands This is Part of Day 2 of "Obvious Laws that should exist but somehow don't." Currently, Contractor Companies are potential loopholes to not pay your employees which is obviously an issue. This Act will patch this loophole up.

Section A:

A Company may employ workers on a contract-style payroll basis. This means that although a set wage doesn't apply for these kinds of workers, the contract workers must get paid via their contract work.

Section B:

A company can take a cut from their worker's contracts of up to 10% of the revenue to be used for the company and cannot be used for personal interests by the employer.

Section C:

A company can only use contracts to pay workers in the excavation, renovation, construction, and redstone industries.

Section D:

Salesman Commissions must be at least 50% of the item's price when sold by the salesman for their employer.

Section E:

Workers employed for a limited time according to a deal with a company must be paid at least minimum wage unless their occupation applies to Sections C & D.

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Shopping at Spawn Act
What about Netherite?!

Passed On: June 2, 2020

Author: Britannia

Signed By: Tsar, Slovenia, Beer

This Law aims to lower the prices of all Chest Shops at Spawn for Reasons states later in the Bill.

Section A:

All Shops at Spawn who unfairly Price items to get rich of New Players Will be Shut Down. Companies who own these shops can lower the prices however they MUST lower them or face immediate closure.

Section B:

All Private Sellers and Companies MUST Adhere to Reasonable Prices Stated in Section C.

Section C:

The following is a price list of certain items with a Price Ceiling (Refer to the Price Ceiling & Economic Reforms Act for info on Diamond Tools & Armour Information)


 * Diamonds: Below 20 Quid
 * Iron: Below 7 Quid
 * Steak or Pork: 1 Quid or Lower
 * Golden Apples: Below 35 Quid
 * Golden Apples: Below 35 Quid

A New Shopping Centre Will be Created AT Spawn Where Shops can Have there Chest Shops without the Streets Becoming Cluttered. All Chest Shops MUST Be Relocated.

Section D:

All Companies/Private Sellers failing to comply with these rules commit a Felony.