World Financial Administration

World Financial Administration uv Integrative Complex uv Wrld Lah uv Lahz uv Omneeoh

Earth Constitution Article VIII Integrative Complex

The functions of the World Financial Administration shall include the following, but not limited thereto:

To establish and operate the procedures for the collection of revenues for the World Government, pursuant to legislation by the World Parliament, inclusive of taxes, globally accounted social and public costs, licenses, fees, revenue sharing arrangements, income derived from supra-national public enterprises or projects or resource developments, and all other sources.

To operate a Planetary Accounting Office, and thereunder to make cost/benefit studies and reports of the functioning and activities of the World Government and of its several organs, departments, branches, bureaus, offices, commissions, institutes, agencies and other parts or projects. In making such studies and reports, account shall be taken not only of direct financial costs and benefits, but also of human, social, environmental, indirect, long-term and other costs and benefits, and of actual or possible hazards and damages. Such studies and reports shall also be designed to uncover any wastes, inefficiencies, misapplications, corruptions, diversions, unnecessary costs, and other possible irregularities.

To make cost/benefit studies and reports at the request of any House or committee of the World Parliament, and of the Presidium, the Executive Cabinet, the World Ombudsmus, the Office of World Attorneys General, the World Supreme Court, or of any administrative department or any agency of the Integrative Complex, as well as upon its own initiative.

To operate a Planetary Comptrollers Office and thereunder to supervise the disbursement of the funds of the World Government for all purposes, projects and activities duly authorized by this World Constitution, the World Parliament, the World Executive, and other organs, departments and agencies of the World Government.

To establish and operate a Planetary Banking System, making the transition to a common global currency, under the terms of specific legislation passed by the World Parliament.

Pursuant to specific legislation enacted by the World Parliament, and in conjunction with the Planetary Banking System, to establish and implement the procedures of a Planetary Monetary and Credit System based upon useful productive capacity and performance, both in goods and services. Such a monetary and credit system shall be designed for use within the Planetary Banking System for the financing of the activities and projects of the World Government, and for all other financial purposes approved by the World Parliament, without requiring the payment of interest on bonds, investments or other claims of financial ownership or debt.

To establish criteria for the extension of financial credit based upon such considerations as people available to work, usefulness, cost/benefit accounting, human and social values, environmental health and esthetics, minimizing disparities, integrity, competent management, appropriate technology, potential production and performance.

To establish and operate a Planetary Insurance System in areas of world need which transcend national boundaries and in accordance with legislation passed by the World Parliament.

To assist the Presidium as may be requested in the technical preparation of budgets for the operation of the World Government.

The World Financial Administration shall be supervised by a commission of ten members, together with a Senior Administrator and a Cabinet Minister or Vice President. The commission shall be composed of one commissioner each to be named by the House of Peoples, the House of Nations, the House of Counsellors, the Presidium, the Collegium of World Judges, the Office of Attorneys General, the World Ombudsmus, the Agency for Research and Planning, the Agency for Technological and Environmental Assessment, and the Institute on Governmental Procedures and World Problems. Commissioners shall serve terms of five years, and may serve consecutive terms.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License