Business and Commerce Act, 2023
| Business and Commerce Act, 2023 | |
|---|---|
 | |
| Parliament of Great Britain and Ireland | |
| An Act to establish the business system of the Empire. | |
| Citation | Original Text |
| Enacted by | Joint Session of Westminster |
| Date enacted | 22 January, 2023 |
| Date of Royal Assent | 22 January, 2023 |
| Signed by | HM Queen Elizabeth III |
| Introduced by | Rt Hon Cameron Romefeller MP (BFL) |
| Amends | |
| None | |
| Repealing legislation | |
| None | |
| Status: In force | |
Content of the Act
Article I || Titles
1.00 || This Act may be cited and referred to in short as the Business and Commerce Act 2023.
1.01 || This Act may be referred to in full as An Act to establish the business system of the Empire.
Article II || Definitions
2.00 || Business is defined as any profit-generating enterprise registered within the region.
2.01 || License is defined as an authorization to own and operate a business.
Article III || Establishment
3.00 || This Act hereby establishes the business system, which shall serve as a classification system to profit driven enterprises in the region.
3.01 || Any citizen shall have the right to establish a business or to apply for a business license.
3.02 || Any citizen shall have the right to establish a business or to apply for a business license.
Article IV || Business Classification
4.00 || Businesses shall be governed by the British Chamber of Commerce, henceforth referred to as the BCoC, under the authority of the HM Treasury 4.01 || Businesses may be of any type or industry. 4.02 || Businesses shall generate a passive income. 4.02a || The amount of passive income generation shall be determined by the tier of business and based on factors regarding activity of the business as determined by the BCoC. 4.02b || The rates of passive income generation shall be determined as part of each Fiscal Budget. 4.03 || The profits of Businesses shall be transferred proportionally to the shareholders of businesses by the Bank of England. 4.03a || This payment shall be disbursed in accordance with the monthly pay cycle as determined in the budget. 4.04 || Licenses shall cost £500. 4.04a || Upon enactment of this Act fees for business licenses shall be waived for seven (7) days.
Article V || Rates, Level, and Restrictions
5.00 || Licensed Businesses shall be established in the following subforums: 5.00a || London, England; 5.00b || Edinburgh, Scotland; 5.00c || Cardiff, Wales; 5.00d || Dublin, Ireland; 5.00e || Ontario, Canada; 5.00f || Sydney, Australia; 5.00g || Wellington, New Zealand; 5.00h || The City of London.
5.01 || Upon reaching level 4, businesses may be relocated in the City of London if the owner of said business requests.
5.02 || Businesses shall follow a level system determining passive income and business size.
5.03 || The level system shall be as follows: 5.03a || Small Business, also known as a level 1 business; 5.03b || Medium Business, also known as a level 2 business; 5.03c || Large Business, also known as a level 3 business; 5.03d || National Business, also known as a level 4 business; 5.03e || International Business, also known as a level 5 business.
5.04 || The following applies to small businesses: 5.04a || Small businesses shall have no cost aside from the initial business license; 5.04b || It shall cost £2000 to increase in level.
5.05 || The following applies to medium businesses: 5.05a || Medium businesses shall only cost the initial £2000 to advance from level 1; 5.05b || It shall cost £5000 to increase in level.
5.06 || The following applies to large businesses: 5.06a || Large businesses shall only cost the initial £5000 to advance from level 2; 5.06b || It shall cost £7500 to increase in level.
5.07 || The following applies to national businesses: 5.07a || National businesses shall only cost the initial £7500 to advance from level 3; 5.07b || It shall cost £12000 to increase in level.
5.08 || The following applies to international businesses: 5.08a || International businesses shall only cost the initial £12000 to advance from level 4.
5.09 || The costs of advancement shall be subject to change in the budget. 5.09a || This change may only occur once per fiscal season.
5.10 || Individuals owning more than a certain amount of acres of land are forbidden from increasing their business past level 3. 5.10a || This shall be determined by the BCoC.
5.11 || All upgrades must be done in sequence, with a one month gap before the next level can be purchased.
5.12 || Business owners are required to submit at least five posts per month in their business(es). 5.12a || If this requirement is not met, the business shall be considered in degradation, and will only yield 75% of its value. 5.12b || If a business remains in degradation for longer than three months, it shall be considered bankrupt and liquidated.
Article VI || Ratification
6.00 || This Act shall come into effect upon passage by both Houses of Parliament with a simple majority and assent by the Sovereign or other authority as established under the Monarchy Act of 2021.