Constitution for Scotland Public Consultation Hub

Section 8.3. There shall be a Constitutional Monetary Authority (CMA) holding ultimate responsibility for the administration of the National Currency. It will be independent of the legislative and executive branches of the Government. Its members will be nominated by a Public Appointments Commission and appointed by Parliament by a simple majority vote in a secret ballot. The CMA shall be funded by making its own requisition upon the normal revenues of the State.

Proposed Amendments to Section

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Original Version

  • Avatar admin
    Administrator #1  •  2020-08-16 22:37:39

    Section 8.3. Section 8.3. There shall be a Constitutional Monetary Authority (CMA) holding ultimate responsibility for the administration of the National Currency. It will be independent of the legislative and executive branches of the Government. Its members will be nominated by a Public Appointments Commission and appointed by Parliament by a simple majority vote in a secret ballot. The CMA shall be funded by making its own requisition upon the normal revenues of the State.

Proposed Amendment to Section 8.3.

  • LouMCowan

    Scottish Reserve Bank

    Section 8.3. Section 8.3 There shall be a Scottish Reserve Bank, acting as Scotland's central bank, responsible for the administration of the National Currency and for implementing policy as instructed by the elected Government. It will be accountable to the legislative and executive branches of the Government. Its members will be nominated by a Public Appointments Commission and appointed by Parliament by a simple majority vote.

    3 votes  |  I agree 3 I disagree 0
    No responses

Proposed Amendment to Section 8.3.

  • Arfem

    NEW ARTICLE 8 - Objectivity & Accountability

    Section 8.3. A Monetary Policy Committee will be appointed by the Public Appointments Commission to advise Parliament on matters of Central Banking, Currency, Financial Regulation and Taxation. Click for New 8.4 https://cfs-hub.co.uk/comments/879

Proposed Amendment to Section 8.3.

  • Jim Osborne

    The Scottish Central Bank

    Section 8.3. 8.3 There shall be a Scottish Reserve Bank, acting as Scotland's central bank, responsible for the administration of the National Currency and for implementing policy as instructed by the elected Government. It will be accountable to the legislative and executive branches of the Government. Its members will be nominated by a Public Appointments Commission and appointed by Parliament by a simple majority vote in a secret ballot.


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