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Jarlial Decree Nº 1 - Hålogarike Sovereign Wealth Fund

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Ríkskomítal Charter

"þetta Er Landið Okkar, Svikin við Blóð og Járn"

TO ALL AND SINGULAR to whom these Presents shall come, does His Grace the Jarl of Hålogarike joyfully send his warmest greetings as well as a High Five!

WHEREAS the Jarldom of Hålogarike is since the latter Days of the Old Tale so fortunate to be part of the Twenty-Six Jarldoms so that mine aforementioned Crimson Jarldom may share in the fabled abundant fruits of plenty of the aforesaid Realm of Joy;

AND WHEREAS a sizable portion of the aforementioned legendary bounty of the Lands of the Longships Throne comes to the coffers of the Heartland beyond the Sea in the form of humongous payments of dividend from the Sameinaða Erlendur Kaupsýsla Einokun Félagið due to the Crimson Jarldom's stock in the universal development corporation aforesaid;

AND WHEREAS it would in mine Jarlish opinion be meet to let the good People of the Jarldom of Hålogarike benefit to the fullest extent possible from the aforesaid gargantuan stream of dividend revenue flowing into the Crimson Jarldom's treasure chest;

AND WHEREAS it further is mine Jarlish belief that the establishment of a Sovereign Wealth Fund for the Crimson Jarldom would be the way to provide the good People of the Heartland beyond the Sea with the utmost benefit from the dividend payments from the Sameinaða Erlendur Kaupsýsla Einokun Félagið;

LET IT THEREFORE BE KNOWN that I, Sir Ragnar Brunnketilsson of the House of Nidaros-Volsdame, Jarl of Hålogarike, Lord of the Heartland beyond the Sea, Law Speaker of the Hålogathing, Lord of the Hålogajarls, Lord Mayor of the Royal City of Tromsø, Lord of Wayward Hall, Lord Paramount of the Beserkers' Barrows, the Bitter Beaches, the Black Country, Bloodstone Island, the Boneways, the Disputed Lands, the Quarrel Coast, the Reaver Reaches, the Shadow Marches, and the Vale of Skulls, and Warden of the Outer Heartland and Hofthosa, do by these Presents declare, will and ordain as follows:

1. Upon the coming into effect of this Instrument there shall be created and established a Body Corporate and Politic by the name of "The Hålogarike Sovereign Wealth Fund" (hereinafter called "the Fund") and the persons who may hereafter become Members of the Body Corporate hereby constituted shall forever (so long as they continue to be Members of the body aforesaid) be one Body Corporate and Politic and shall by the same name have perpetual succession and a Common Seal with power to break, alter and make anew the said Seal from time to time at their will and pleasure, and by the same name shall and may sue and be sued in all Law Courts and in all manner of actions and proceedings, and shall have power to do all other matters and things incidental or appertaining to a Body Corporate.

2. The Fund shall exist to provide prudent stewardship of Hålogarike's revenue hailing from the dividend payments by the universal development corporation the Sameinaða Erlendur Kaupsýsla Einokun Félagið of which the Jarldom is a permanent shareholder since Time Immemorial for the benefit of current and future generations of Hålogamen.

3. The Fund shall excercise the aforesaid stewardship by appropriating monies for the:

a. funding of special projects;

b. aid the Jarldom government budget in the event of unforeseen shortfalls;

c. reduction of local taxes;

d. payment of a citizen's dividend.

4. Any of the Fund's dividend revenue which has not been disbursed under the preceding section or otherwise spent in accordance with the provisions of this Charter shall be invested or added to the Fund's Reserve.

5. The investments of the Fund's assets must be made with the objective of maximizing long‑term financial returns.

6. When making investments, the Fund shall adhere to investment and lending policies, standards and procedures that a reasonable and prudent person would apply in respect of a portfolio of investments to avoid undue risk of loss and obtain a reasonable return that will enable the Fund to meet its objective.

7. The management of the affairs of the Fund shall be vested in the Governing Body of the Fund (herein called "the Governing Body") who may exercise all such powers and do all such things as may further the objective of the Fund.


8. The Governing Body shall consist of a Chairman, and not more than twelve other Governors. The Chairman and the Governors for the time being shall be Members of the Fund.

9. The Jarl of Hålogarike (hereinafter "the Jarl"), or any person he appoints in his stead under his hand and the Seal of the Crimson Jarldom, shall be the Chairman of the Fund.

10. The initial Governors shall be appointed by the Jarl under his hand and the Seal of the Heartland beyond the Sea.

11. The subsequent Governors shall be appointed by the Governing Body with the approval of the Jarl, provided that Governors in respect of whom re-appointment is to be considered shall not be entitled to vote either in respect of their own re-appointment or the appointment of any other Governors to be considered at that time.

12. The Jarl may at any time revoke the appointment of the Chairman as well as any Governor if he considers it desirable in the interests of the Fund to revoke the appointment.

13. Subject to the provisions of this Charter, the Governing Body shall meet and may regulate their own procedure and that of any committee as they shall think fit.

14. The Governing Body may delegate any of their powers to committees consisting of such Governors and subject to such regulations as they think fit. In addition, the Governing Body may appoint persons other than Governors to serve on any committee and may at any
time revoke the appointment of any such person. Article 8 of this Charter shall apply to all members of committees as it applies to Governors.

15. The Governing Body shall appoint a chief executive officer who shall be known as the Director-General of the Fund for such term, at such remuneration and upon such conditions as they shall think fit, and the Governing Body may from time to time entrust to and confer upon the Director such of the powers exercisable by the Governing Body as they may think fit upon such terms and conditions and with such restrictions as they may determine and may from time to time revoke, withdraw, alter and vary all or any of such powers.

16. The Governing Body may appoint such other officers and take into the Fund's employment such other persons and in each case on such terms and conditions as they shall determine.

17. The Governing Body may pay to or in respect of any officers or other persons employed by the Fund such pensions (including gratuities) or provide and maintain for them such pension schemes (whether contributory or not) as the Governing Body may determine.

This Instrument shall come into effect immediately.

As it is written in blood, so shall it bloody well be!

 

Given under my Hand Ríkskomítal and the Seal of Crimson Jarldom at the ancient fortress of Wayward Hall in the Royal City of Tromsø on this Day of the Lord Odin, the Thirtieth Day of the Month Glitnir in the Thirteenth Year of the Second Viking Age in the Second Epoch of the High Realm.

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Sir Ragnar Brunnketilsson of the House of Nidaros-Volsdame,

Jarl of Hålogarike.

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