Treasury and Economic Regulation Statute, 2026

ENACTED by the Koru of the Hokorian State under the authority of the Council of Advisors Charter.

Part I- Preliminary

Section 1- Short Title

1. This Statute may be cited as the Treasury and Economic Regulation Statute, 2026.

Section 2- Commencement

1. This Statute shall come into force on a date appointed by the Koru of the Hokorian State.

Section 3- Interpretation

1. “State” means the Hokorian State.
2. “Treasury” means the treasury of the State, whether constituted as an office, department or function.
3. “Public funds” means money or assets belonging to or controlled by the State.
4. “Economic regulation” means regulation relating to finance, currency, trade, taxation or public expenditure.
5. “National Fiscal Commission” means the body recognised under section 7.

Part II- Fiscal Authority

Section 4- Sovereign Fiscal Authority

1. Ultimate authority over public funds rests with the Koru.
2. No expenditure, levy or financial obligation shall exist except by authority recognised under this Statute or by Constitutional Order.

Section 5- Delegation of Fiscal Functions

1. The Koru may delegate fiscal and economic functions to:
2. the Prime Minister;
3. the Treasury;
4. the National Fiscal Commission; or
5. any other body or person.
6. Delegation may be general or specific.
7. Delegation may be withdrawn or modified at any time.

Part III- The Treasury

Section 6- Existence of the Treasury

1. A Treasury may exist for the administration of public funds.
2. The Treasury exists only to the extent it is constituted and staffed.
3. Absence or inactivity of the Treasury does not invalidate fiscal authority.

Part IV- National Fiscal Commission

Section 7- Recognition of the National Fiscal Commission

1. A National Fiscal Commission is recognised.
2. The Commission consists of:
3. the Koru;
4. the Prime Minister, where one is appointed; and
5. such other officers as may be designated by law or instrument.
6. The Commission may operate with fewer than its full complement.

Section 8- Functions of the Commission

1. The Commission may:
2. oversee public finances;
3. advise on fiscal policy;
4. approve or review major financial decisions; and
5. perform such other functions as delegated.
6. Advice or approval of the Commission is binding only where expressly required.

Part V- Public Funds and Expenditure

Section 9- Control of Public Funds

1. Public funds shall be held and applied for the purposes of the State.
2. The form and custody of public funds shall be as determined by law or instrument.

Section 10- Expenditure

1. Expenditure of public funds shall occur only where authorised by:
2. statute;
3. regulation made under statute; or
4. instrument issued by or under authority of the Koru.
5. Emergency expenditure may be authorised by the Koru notwithstanding any other provision.

Part VI- Revenue and Economic Regulation

Section 11- Revenue and Levies

1. Taxes, fees, charges or levies may be imposed only where authorised by statute or Constitutional Order.
2. The assessment, collection and enforcement of revenue shall be as determined by law or regulation.

Section 12- Economic Regulation

1. Economic activity may be regulated where necessary for:
2. stability;
3. security;
4. fairness; or
5. continuity of the State.
6. Regulation may include licensing, controls, prohibitions or conditions.
7. No economic freedom exists except as recognised by law.

Part VII- Records, Oversight and Continuity

Section 13- Records and Transparency

1. Financial records shall be kept to the extent practicable.
2. Publication or disclosure of financial information shall be subject to law and security considerations.

Section 14- Oversight and Review

1. Oversight of fiscal matters may be exercised by:
2. the Koru;
3. the National Fiscal Commission; or
4. any authority designated by law.
5. No oversight mechanism is mandatory unless expressly required.

Section 15- Continuity of Fiscal Authority

1. Fiscal authority shall continue notwithstanding:
2. vacancy of office;
3. inactivity of institutions; or
4. administrative disruption.
5. Where necessary, the Koru may assume any fiscal function.

Part VIII- Regulations and Final Provisions

Section 16- Regulations

1. Regulations may be made for the purposes of this Statute.
2. Regulations may provide for procedures, controls, reporting and enforcement.

Section 17- Relationship to Other Law

1. This Statute shall be interpreted consistently with the Sovereignty and Koru Charter and the Council of Advisors Charter.
2. This Statute may be amended, suspended or repealed in accordance with the Council of Advisors Charter.