Summary
World Legislative Act #39
Prohibition of Unauthorized Destruction of Illegal Financial Instruments
Stock Record Destruction Ban
To assure accountable retirement of illegal stocks (divestment), prohibits unauthorized destruction of illegal financial instruments (bomb corporation stock certificates, holding certificates and related documents. Refer to WLA#13.1.2.1.).
1. Requires appropriate accounting, disposition and retirement of illegal securities.
2. Requires declaration and assignment of proceeds and records of illegal securities to World Disarmament Agency office of Earth Federation Funding Corporation.
3. Exempts brokers from prosecution conditional upon legal brokerage for retirement of illegal securities.
5. Defines conditional amnesty.
4. Defines compliance. Declares conditional amnesty for compliance.
6. Requires payment of retirement (redemption) of illegal financial instruments.
7. Includes bank stock liens against illegal financial instruments as documents for which unauthorized destruction is illegal.
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The Prohibition of unauthorized destruction of illegal financial instruments was adopted as World Legislative Act #39 at the 10th session of the provisional World Parliament, assembled in June 2007, at Kara, Togo, West Africa, convened in conformance with Article 19 of the Earth Constitution.
Attested:
Eugenia Almand, JD, Secretary
Provisional World Parliament