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

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Enacting Laws of the Empire of Ananto and Kalistan

KALNAPECO Charter

Pursuant to Kalistani Statutory Law Title VIII Business Regulation Section VIII.2.e this Bill aims at the Restoration of the Kalistani National Petroleum Company, established in 3913 for the purposes of nationalizing, exploring for, exploiting and exporting Kalistani Petroleum products. The text of the original act is as follows:

This Bill hereby formally nationalizes the exploration, extraction, refinement and distribution of all petroleum and petrochemical resources in Kalistan and in all sovereign national territorial waters off Kalistani shores.

Major Deposits covered by this Act include:
* The Ananto Formation in the Anantanese Ocean
* The Suldanor Formation

This Bill also directs the Finance Minister to allocate funds sufficient to open, fully staff and operate for a contract term of 10 years a National Oil Refinery at or near Sulari, Suldanor, with automatic renewal, pending waiver of optout. The refinery should include a modern port facility capable of receiving large scale modern oil tankers from the Ananto Formation, as well as expanding the Suldanor overland Infrastructure to include rail and pipeline to the refinery from the Suldanor Oil field. The Finance Minister will furthermore allocate all necessary funds to purchase, construct or contract for all infrastructure needed to take petroleum and petrochemicals from the Ananto Formation to the refinery, as well as transport refined petroleum across Kalistan and/or ship petroleum to foreign ports. Only Kalistani ships and pipelines may carry petroleum within Kalistan, and only Kalistani ships may transport KALNAPECO petroleum products to foreign points of sale. Direct sales from the National Oil Refinery at Sulari, Suldanor, to foreign purchasers is not permitted.

The Ministry of Industry shall oversee the operation and the maintenance of KALNAPECO. Petroleum refined at the Suldanor National Oil Refinery will be designated to supply local demand first and shall be sold to Kalistani distributors at cost. Any surplus will then be offered to the world market at market prices.

KALNAPECO will adopt the dual economic system with regard to management. Stock will be publicly traded on world markets. The Kalistani Government will control 51% of all stock released, and the remaining 49% of the stock will be available to be sold with preference to Kalistani investors. The corporate structure of KALNAPECO shall imitate all other Dual Economy structures, with more than half of all officers hired from existing employees, who themselves are subject to Employee votes of confidence, while the remaining offices are filled by the stockholders, or their representatives on the Board of Directors. The Chief Executive Officer will be directly elected by the Employees of the Company, while the Chief Financial Officer will be appointed by the Stockholders.

The Government of Kalistan is hereby prohibited from transference of any of its stock in the company into private ownership or trusteeship. In the event that Kalistan seeks to divest itself of its controlling interest in the firm, the entire company shall be considered liquidated, and all operations in regards to exploration, extraction, refinement and distribution of Kalistani Petroleum and petrochemicals from Kalistani deposits shall cease.

This Act will be enacted upon receiving an affirmative vote from a majority of the seats in the Chamber of Deputies. The Chamber of Deputies shall enact all laws necessary and proper to the correct operation of this Charter.

Pursuant to Kalistani Statutory Law Title VII Infrastructure Section 5 all Energy production and distribution within the Empire of Ananto and Kalistan is placed under the administration of KALNAPECO, to include all fossil fuel and renewable energy sources, power grids and maintenence.

This Act may be amended by a 2/3rds affirmative vote of the Chamber of Deputies. The full; amended Charter must be included in the description of Amendment Act.