Citizen Stock Ownership Plan
- 1 Citizen Stock Ownership Plan for the Free and Autonomous Nation of Nevis
- 1.1 Commencement
- 1.2 Funding and Distribution
- 1.3 Phase II. Distribution
Citizen Stock Ownership Plan for the Free and Autonomous Nation of Nevis
Upon affirmation by legislative vote and popular referendum in accord with Chapter X Section 113 of THE CONSTITUTION OF SAINT CHRISTOPHER AND NEVIS, the island of Nevis shall become the Free and Autonomous Nation of Nevis, and the following Citizen Stock Ownership Plan (CitSOP) shall commence:
1. No Taxation
All compulsory taxes shall cease to be levied. No regional authority or proprietor or any legal organ may henceforth impose any tax (personal, corporate, capital gains, sales, withholding, employment, gift, inheritance, probate fees, company registration, customs), or any other compulsory transfer of funds, except for specific services rendered on a voluntary basis, or upon receipt of a written waiver signed by every person who directly or indirectly pays such a tax.
2. No Regulation of Non-intrusive Activity
3. Constitution as Supreme Law
The Constitution of the Free and Autonomous Nation of Nevis shall henceforth be the supreme law of the land for all matters public and private.
Funding and Distribution
- All government services shall henceforth be self funded and operate within the parameters of the aforementioned constitution or be discontinued.
- Real estate and other physical assets shall be sold.
- Stock shall be issued to all resident citizens for the rights to the proceeds from the sale of said properties, economic citizenship, and the sale of flagging rights for oceangoing vessels and stationary ocean platforms, which shall be distributed as follows:
Citizen Stock Ownership
Every documented citizen of SAINT CHRISTOPHER AND NEVIS born in Nevis before Jan 1, 2014 shall be issued, free of charge, one share in all Nevis assets, represented in the form of a three inch by five inch card, stamped with the official seal of Nevis, and imprinted with a readable and understandable description of the stock represented and a unique bar code. Initial disbursement shall total 70% of all stock to be issued by Nevis.
Distribution of Initial Stock
The stock cards shall be released beginning at nine o'clock AM on the Monday following the signature of the Governor-General, and from a prominent post or posts accessible to anyone on the island, without break until nine o’clock PM every day for one month. Resident citizens shall have one month to claim their stocks. For every 999 stock cards issued, one shall be deposited in an escrow account for the then current Governor General, which shall be made accessible on the 10th anniversary of his signature.
Receipt and Trade of Stock
Each citizen may receive his stock card once s/he presents a valid ID, signs, and thumbprints the appropriate line of the registry, and is given an opportunity to provide an address to which periodic progress/status reports may be sent by the accountant. Proof of guardianship and an additional signature and thumbprint is required for minors under the age of eighteen. The stock cards, being the property of the citizen recipients, may immediately be traded or sold domestically or internationally, except by said minors or their guardians.
Cardholders shall have title and vote equivalent to the fraction of stock cards held. During stock votes the cards shall be held at a polling place to be chosen by stockholders, and the voter shall sign and thumbprint a registry and be given a receipt with which he can recover his stock card after the polls close. Voting may not extend to any topic other that the pricing, receipt, management, and distribution of aforementioned funds, the selection of citizens and vessels flagged, and the issuance of passports.
Phase II. Distribution
1) Beginning one month following the signature of the Governor-General, and for a duration of one week, the architects and financiers of this plan shall be issued 10% of the stock - to be divided as follows:
- 10% to be divided equally by the CitSOP Architects,
- 90% to those who finance the CitSOP campaign and implement its provisions - proportionate to the amount contributed.
2) Beginning the week following the stock distribution to Architects and financiers, 5% of the stacks shall be sold externally in the world's capital markets. This stock sale shall continue until the 5% are fully distributed. The proceeds shall go into the general fund of St. Kitts. Holders of such stock shall have the same title and voting rights as domestic stockholders.
3) 15% of the stock cards shall be held in escrow and distributed as follows: On each anniversary of the signature by the Governor-General, 1% of the stacks shall be auctioned to citizens until the supply is exhausted. This distribution shall continue in annual installments of 1% over 15 years. The proceeds shall be put into the general fund of St. Kitts. Of the remaining balance, 10% shall go directly to the current Governor-General, and 90% to every individual who had been duly elected as Representative and Senator in Saint Kitts, and of the Assembly of Nevis on or before the date 365 days prior to the signature of the Governor-General, according to the fraction of funds he had received as salary for that year.