The Incorporation of Foreign Assets Act, 2024

Also referred by the shorthand IoFA 2024

Drafted and introduced to the Board by Sugeeth Jayaraj S.A., the liaison to the Board from the Election Committee and original founder of Project Troopers; on June 1, 2024 as applicable to the guidelines and laws in force on that date.

Introduction

1. This act will be called “The Incorporation of Assets Act, 2024”. The designated shorthand for this bill will be the “IoFA 2024”. This bill will come into effect and be incorporated into the Governing Guidelines if the Board of Directors give assent to this bill.

2. This act will deal with the incorporation of foreign assets into Project Troopers, in the case where a company and/or an individual and Project Troopers come into a mutual agreement to allow Project Troopers to acquire the materials.

3. Any asset will be declared as foreign if they do not belong to any member(s) of Project Troopers, or if not owned by the Project in regular fashion.

4. This act is binding on the Board of Directors of Project Troopers and ArbCom, as enshrined and empowered by the Legal Stature.

5. In this act, the term the “CIC” refers to the office of the Collaborator In-Charge, which may be occupied by single or multiple directors.

6. Any amendment to the basic essence of this act that the Board attempts to introduce should be approved by both the Election Committee and the ArbCom.

7. Any changes to this section shall only be applicable after 3 weeks from the date of amendment.

8. The provisions enclosed in this act shall apply to any deal that is under drafting at that time, even if a future amendment is made to this bill.

Dealing Protocol

1. The start of the dealing process must be by a vote held among the Board of Directors. If the Board of Directors approve to discuss and make a deal with the respective representative(s) of the owner(s) of the materials; then formal discussion regarding the mutual agreement and arrangement of transfer of intellectual property can start.

2. The Board will then appoint a representative who will sit down with the second party to discuss and deliberate the deal. The representative should not be from the second party in any way. Preferably, the representative should be the CIC until there is conflict of interest or unavoidable circumstances.

3. The deal whatsoever drafted or passed cannot violate the principles of the Legal Stature.

4. The drafted deal will then be sent over to the ArbCom to view the deal and see if it does not violate the Governing Guidelines and send it over to the Board.

5. The Board must vote on the drafted deal as a proposal.

6. If the drafted deal has been approved by the Board, and the second party has also approved the deal, then it would be considered as finalised.

Naturalisation Protocol

1. Once the original deal has been finalised, the deal must be signed in-hand by both the representative authorised to seal the deal as per the required policy on their behalf at that time and the CIC(s) of Project Troopers.

2. The CIC is required to create and sign an affidavit stating that the respective Foreign Assets have become a part of the Project.

3. Once the affidavit has been signed, the new Assets will be automatically re-released under the Creative Commons 4.0 Non-Commercial Share-Alike License; or any compatible license.

4. A license will be deemed compatible with the Legal Stature if it consists of all the provisions of the CC 4.0 NC By-SA license or contains provisions that are deemed less restrictive than the CC 4.0 NC By-SA license by the international community.

5. The deal will be documented and must be publicly available under the Governing Guidelines’ Deals section.

Enforcement of the Deal

1. The CIC is required to ensure that all provisions of the deal are effectively enforced upon signing the deal.

2. The delay in time of enforcement of the deal may be generally up to a week of the signing of the deal, subject to the provisions of the deal.

3. The maximum approved delay time to bilaterally implement the deal is 15 days. If this time period has exceeded, then the deal will be considered void. It must be re-approved with necessary changes to the deal to ensure continued compliance with the Governing Guidelines, by undergoing the “Dealing Protocol” and “Naturalisation Protocol” again.

Limits of the Deal

1. The deal should a one-time deal. If there is any clause in the deal that says that the second party can gain back rights to the content on any specified ground at a later time, then the deal will be considered void.

2. The deal shall not consist of any kind of arrangement where the second party will be granted forever favourable treatment in exchange for

3. The deal shall not incorporate any kind of non-disclosure agreement.

4. The deal shall not incorporate anything that causes major change or change to the Legal Stature.

5. The deal shall only come into effect in the future of the approval of the deal and cannot be assigned to any date before the bilateral approval and signature of the deal.

End of the Act.