Summary of an Act
World Legislative Act #16
World Hydrocarbon Resource Act
Mundializes all as yet unmined natural hydrocarbon resources on Earth, creating World Hydrocarbon Reserve Board for proper regulation of use of this common heritage of humanity.
Defines World Hydrocarbon Reserve Board accountable to World Executive.
2. Minister of World Resources
Permits World Parliament to nominate Minister or Commission Chair of World Resources to head World Hydrocarbon Reserve Board. Prohibits Minister of Energy from heading World Hydrocarbon Reserve Board. Declares world hydrocarbons not viable fuel available for unregulated combustion by world public, but instead source for durable, recyclable plastics and lubricants for now and for generations to come.
Lists responsibilities and powers of Minister or Commission Chair of World Resources, including consideration for licenses, issuance of licenses, fines, other penalties and tax assessments.
3. Advisory Board
Creates and defines functions of Advisory Board of World Hydrocarbon Reserve Board.
4. Composition of the Advisory Board
Defines Composition of Advisory Board, with membership from specified agencies of Earth Federation and from specified existing international agencies that ratify Earth Constitution. Defines rules for suspension or expulsion.
Permits license requirements of persons and organizations that work with hydrocarbon resources.
6. Authority of License
Disavows authority of national level licenses without world license.
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Adopted unanimously as World Legislative Act Number 16 at the Sixth Session of the Provisional World Parliament convened at Bangkok, Thailand, 5:10 p.m., 26 March 2003, in conformance with the Constitution for the Federation of Earth.
Eugenia Almand, JD, Secretary
Provisional World Parliament