Category Archives: legislation

Financial Service Act (updated outline)

Book 1 General Provisions

Book 2 The Financial Service Authority

Book 3 Banking

Title 1 General provisions

Title 2 Consumer and Investment Banks

Title 3 Miscellaneous

Book 4 Credit

Title 1 Types of credit and money loans

Title 2 Credit Unions

Title 3 Peer-to-peer loans

Title 4 Pawn shops

Book 5 Insurance

Title 1 General provisions

Title 2 Insurance companies

Title 3 Insurance markets

Title 4 Types of insurances

Title 5 Reinsurance

Title 6 Miscellaneous

Book 6 Securities

Title 1 General provisions

Title 2 Emission of securities

Title 3 Second-hand trade of securities

Title 4 Deposit of securities

Title 5 Miscellaneous

Book 7 Derivatives

Title 1 General provisions

Title 2 Futures

Title 3 Other derivatives

Book 8 Financial intermediaries

Title 1 General provisions

Title 2 Securities brokers

Title 3 Insurance brokers

Title 4 Mortage brokers

Book 9 Asset Management and Mutual Funds

Title 1 General management

Title 2 Individual asset management

Title 3 Institutional assetmanagement

Title 4 Mutual funds

Book 10 Currency Trade

Title 1 General provisions

Title 2 TBA

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Financial courts

Since the Financial Services Act will be a comprehensive legal code which mixes both administrative and civil law and due to the social role of the financial sector, it might be desirable to establish special courts for lawsuits involving financial matters. Continue reading Financial courts

Mordan Property Law

Here we will give a short overview of Mordan Property Law. Since this is still a proposal, we restricts this discussion the essential features of Mordan Property Law. We will cover three topics: immovable property, movable property and animals.

Immovable property

All land is the inalienable property of the people. Though the government will be responsible to manage this on behalf of the people, it will be incorrect to refer to land as “state” or “government property”.

Individuals can hold land in a private capacity through lease (using the legal figures of emphyteusis and superfices). Subsequent leaseholds can be sold or mortgaged by their lessees.

Movable property

With the exception of animals (see below) the law on movable property will not differ much from most terrestrial legal sytems. Full ownership of both personal and capital goods will possible and expropriation is not allowed without due cause and adequate compensation.

Animals

Under Mordan law animals cannot be owned by humans, as they are not things but sentient beings. Nevertheless people can keep, under certain limitations, animals. However, this relation will be a type of guardianship rather than ownership.

Since animals are not property, they cannot be sized for the settlement of debts. The forfeiture of animals is only possible for the sake of animal welfare or public health.

Surrogacy

Reasons for using surrogates vary, but are mostly related to female infertility due to a dysfunctional uterus. As alternative for surrogacy, uterine transplants are pioneered, mainly in Sweden and some Islamic countries. If artificial uteri would become a viable option, the entire issue of surrogacy might become moot.

We can distinguish two main different types of surrogacy:

  1. Traditional surrogacy;
  2. Gestational surrogacy.

Continue reading Surrogacy