Department of Commerce

Commonwealth of Redmont

Governing Acts

The full text of the Acts of Congress the Department administers. When this portal and the acts disagree, the acts win.

Redmont Commerce and Finance Act

The RCFA: licence classes A to H with capital requirements, client funds and the deposit guarantee, offering disclosure, tiered reporting, financial institution taxation, and the enforcement escalation. Replaces the CSA, FIEA, and BITA.

Redmont Corporate Entities Act

The RCEA: every entity form from sole proprietorships to foundations, the Company Register and Entity Profile, Standard Form incorporation, capital and creditor protection, insolvency duties, and the DOC's registrar powers. Replaces the Legal Entity Act.

Taxation Act

The general law of taxation: balance tax brackets, property tax from the first plot, the 2.5% chestshop sales tax, eviction and pruning taxes, and one administration procedure with objections and refunds.

Bankruptcy Act

Voluntary and involuntary petitions, the automatic stay, exemptions, liquidation, repayment and reorganization tracks, claim priorities, avoidance actions, and discharge.

Property Lien Act

The PLA: creation and perfection of Consensual, Mechanic's, Landlord's, Judicial, Tax, and Purchase Money Liens, the public Lien Registry, first-in-time priority with super-priorities, default, foreclosure, and discharge.

Commercial Standards Act (repealed)

REPEALED by the RCFA. Defined the four financial institution types, DOC powers, public company and ETF reporting, and statutory audits.

Banking Income Tax Act (repealed)

REPEALED by the RCFA (Part IX). The Financial Institution Tax: monthly taxation periods, the 15% FIT and 10% FIDIT, deductions, filings, assessments, and appeals.

Legal Entity Act (repealed)

REPEALED by the RCEA. Corporations, LLCs, the Company Docket, incorporation, receivership, and winding up.

Financial Institutions Enforcement Act (repealed)

REPEALED by the RCFA. The DOC's enforcement ladder: registration duty, client fund custody, cease and desist, freezes, bar orders, receivership, sanctions, and offences.