Order 002: Development Fund for Alduria

[Alejandro Campos]

Transitional Government of the Republic of Alduria
ORDER 002

Pursuant to my authority as President of the Republic of Alduria, and the provisions of the Constitution of Alduria, I hereby promulgate the following:

RECOGNIZING that ninety-five percent of the proceeds of all export sales of petroleum, petroleum products, and natural gas from Alduria, as well as funds from other sources, shall  be deposited into the Development Fund for Alduria until a representative government of Alduria is properly constituted and duly elected as provided by the Constitution and its Transitory Provisions, and that five percent of the proceeds shall be deposited into a Compensation Fund;

REAFFIRMING that a major objective for this Transitional Government is to ensure that the newly established Development Fund for Alduria and other Aldurian resources, including Aldurian petroleum and petroleum products, are dedicated to the well-being of the people of the Republic of Alduria;

COMMITTED to ensuring that the Development Fund for Alduria shall be used in a transparent manner to meet the humanitarian needs of the Aldurian people, for the economic development and construction of Alduria’s infrastructure, and for the costs of Aldurian civilian administration, and for other purposes benefiting the people of Alduria;

SECTION I: Purpose.
This order applies to the administration, use, accounting and auditing of the Development Fund for Alduria (the "Fund"). The order is intended and shall be applied to ensure that the Fund is managed in a transparent manner for and on behalf of the Aldurian people, and that all disbursements from the Fund are for purposes benefiting the people of Alduria. 

SECTION II: Responsibilities.
1. The Cabinet of the Government of Alduria shall oversee and control the establishment, administration and use of the Fund for and on behalf of the Aldurian people, and directs disbursements from the Fund for those purposes he determines to be for the benefit of the people of Alduria.

2. There shall be a Fund Director, appointed by the President on advice of the Prime Minister, who shall coordinate with the Bank of Alduria, and, if the President directs that accounts be opened in recognized international banks and/or other financial institutions, in coordination with those institutions. 

3. There shall be a Fund Review Board, which shall review all competing requirements for the relief and recovery of Alduria, assesses all available resources, and, in consultation with the Aldurian transitional administration, when established, develops for the approval of the President spending plans, consistent with a comprehensive budgetary framework, that identify prioritized requirements for proposed disbursements from the Fund; considers in this process information provided by the different national and local stakeholders, and other entities, as appropriate. 

4. The Bank of Alduria shall hold the Fund on its books and administer the Fund as directed by the President or Cabinet, or a designated delegate. The corpus of the Fund shall be held in an account entitled "Bank of Alduria/Development Fund for Alduria," in the Bank of Alduria. 

5. The Fund shall be controlled by the President, for and on behalf of the Aldurian people. The Bank of Alduria and/or other financial institution(s), if the President so directs, shall accept instructions, as agreed, concerning the Fund, including instructions to pay sums out of the Fund, only from the President, the Cabinet, or their authorized delegee(s).

6. The Transitional Government shall  obtain the services of an independent, certified public accounting firm to support the objective of ensuring that the Fund  is administered and used in a transparent manner for the benefit of the people of Alduria. The accountants performing this function shall be separate from those public accountants (auditors) approved or appointed by the Transitional Government.

SIGNED,

Alejandro Campos
President of the Republic

[Natalia Cotilla]

Countersigned,

Natalia Cotilla
Prime Minister of Alduria