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Regulations Committee
This page explains the role of Regulations Committee, appointed by the Executive Committee of the Foundation's Open Council.
The role of the Regulations Committee is to provide counsel to the Muellners Foundation's community on its various initiatives. This committee works on regulations concerning monetary policies, inter governmental agencies, governmental agencies and Foundation's statutory maintenance.
Regulations Committee members are generally individuals of industry wide reputation, having had persistent success in contributing to the humankind, with major sustainable impact. They can be successful chartered accountants, tax consultants, corporate lawyers, M&A lawyers, bureacrats working with government agencies, Program Directors of inter governmental agencies, holding an office of an institution which shapes monetary policy of a jurisdiction on this planet.
The members of the Regulations Committee have voluntarily chosen to actively contribute to the Muellners Foundation's agenda.
These members publish opinion articles on Foundation's financial technology research and self governance, contribute directly by mentoring Learn fellowship grantees, participate in presenting Foundation's agenda in their industry network, build strategic relationships with governmental and inter governmental agencies.
The members appointed to Regulations Committee usually stay on this committee for a fixed period.
The members of the Regulations Committee nominate and appoint several Steward Group. Read more on Steward group here.
The members of the Regulations Committee work with following guidelines:
Meetings:
1. The Regulations Committee members shall meet the Executive Committee on an ongoing basis: 1.1 Generally recorded on a monthly basis through an electronic meeting with the Executive Committee, either exclusively or
1.2 When recorded through the member’s presence in the Foundation’s monthly Council meetings, or
1.3 When participating through the Independent Board's private mailing list on any Open Council vote, atleast once in a month.
2. The Regulations Committee may choose to meet the Executive Committee or other members through an electronic meeting, in addition to the monthly Council meetings, to contribute to the Commitee's roles and responsibilities.
Regulations Committee also processes nominations and appointments of members to Steward Groups.
Regulations Committee members build strategic relationships on behalf of the Foundation's community, representing its citizens rights in Economic Forums, Regulatory bodies and other industry networks, which are outside the purview of Serenity Partner Program.
3. Regulations Committee can convene an electronic meeting, inviting all the Open Council members or all the Foundation's members, to conduct an independent documented review of the Foundation’s initiatives.
The meeting minutes from any convened “Regulations Committee meeting” shall be released to the Executive Committee within 14 days of the meeting.
The Executive Committee reserves the right to reject or release the meeting minutes and documented reviews of this committee to the other members of the Foundation.
Serenity Governance Framework:
4. Muellners Foundation runs itself with a decentralised governance model. Therefore, the role of the Regulations Committee is to work with the other Council members in steering the Foundation’s self governance model, inscribed into Foundation's Serenity DaO.
The Executive Committee ratifies the Regulations Committee’s reviews.
The Independent Board then ensures ratification of amendments to this Open Constitution, governance and steering of the Foundation based on Executive committee’s counsel.
Consideration:
5. Appointment to this Regulations Committee is pro bono and voluntary in nature. Appointments are generally made for a minimum period of 2 years.
Appointment, Nomination, Removal and Resignation:
Appointment:
6.1 Following members can officially nominate a new or existing member of the Foundation to the Regulations Committee:
6.1 a.6.1 a. An individual member of the Executive Committee or of the Regulations Committee or of the Advisory Committee.
6.1 b. A non Council member can also request a nomination, in the form of community proposal. The Nomination action shall be officially initiated by the only members mentioned in above 6.1 “a”.
6.2 Self nomination by an existing member of one of the Council Committees for his/her/their appointment to the Regulations Committee is not acceptable.
Self nomination by an existing non Council member of the Foundation, for his/her/their appointment to the Regulations Committee is not acceptable. Please read more.
6.3 Once the nomination is accepted by the Nominee, Nominee or the member nominating the nominee, shall file supporting documentations such as nominee's literature, publications, demonstration of social activities on Foundation's Membership Registry.
A Council Resolution "Vote IN" is then scheduled on the Council's mailing list.
Electoral Process for "Vote IN" is conditional to a quorum.
a. Quorum is achieved when a minimum of half of all the Open Council members, participate in the Council Resolution - "Vote IN". b. A decision is received in favour of the Council Resolution - "Vote IN", when majority of all the participating members of the Open Council, vote "+1". E.g: Let's say there are 21 Open Council members.
Atleast 11 members shall participate in the Council Resolution for the "Vote IN" to achieve quorum. This is the qualifying state for the Council Resolution to be logged on Serenity public ledger. For the appointment to be electorally approved, the "Vote IN" should receive atleast half of the total votes(required for quorum), in the favour of this Council Resolution. So, in this example, six (+1) votes of the participating 11 Council members will do the job.😒
6.4 Appointment to the Regulations Committee is publicized on the public facing records of the Muellners Foundation and members are encouraged to link public affiliations to the Foundation.
Removal Proceedings:
7.1 Members of the Executive Committee or of the Regulations Committee or of the Advisory Committee can only officially only officially propose removal of a member from the Regulations Committee.
7.2 Open Council Resolution - Vote OUT" is considered to be active on the Serenity system, once it is initiated on the Council’s private mailing list.
Electoral Process for "Vote OUT" is conditional to a quorum. a. Quorum is achieved when a minimum of half of all the Open Council members participate in the Council Resolution "Vote OUT". b. A decision is received in favour of the "Vote OUT", when majority of all the participating members of the Open Council, vote "+1". E.g: Let's say there are 21 Open Council members.
Atleast 11 members shall participate in the Council Resolution for "Vote OUT" to achieve quorum. This is the qualifying state for the Council Resolution to be locked on Serenity public ledger. For the removal to be electorally approved for next stage, the "Vote OUT" should receive at least half of the total votes(required for quorum), in the favour of this Council Resolution. So, in this example, six (+1) votes of the participating 11 Council members will do the job.😒
A strong reason for violation of Muellners Foundation’s governing policies and directives must be provided by member(s) initiating the resolution, to support the Council resolution “Vote OUT”.
7.3 Community Referendum: Final removal of a member from the Regulations Committee is subject to a community referendum on the passed Council resolution “Vote OUT”, stated in 7.1 & 7.2 above.
Serenity's Community Referendum is generally accessible by all members of the Muellners Foundation - both Council and its CWC members and non Council members.
Quorum on the Community Referendum for the Council Resolution - "Vote Out" is achieved when 33% (more than 1/3rd) of all the voluntarily organised subscribed members participate. Of the minimum participating members, the Community Referendum stands as Decided when majority of the quorum populace votes in favour of the stated Council resolution “Vote OUT”.
E.g: Let's say there are 1000 Foundation members.
A minimum of 333 members are required to participate in the Community Referendum to achieve quorum. The decision of the Community Referendum depends on a majority(167/333) in favour of, or against the subject of the Referendum. This is the qualifying state for the Referendum to get locked on Serenity public ledger.
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8. If a member happens to serve on two Council committees, then this effectively means that two votes are counted for the same member for the Foundation’s Open Council voting decision proceedings, including on these governing protocols for appointment of members or their removal.
Resignation:
9. A member's self resignation from the Regulations Committee is a voluntary action.
A member may resign from the Regulations Committee by stating the reasons for resignation. The announcement of resignation can be done via electronic email on the Council's mailing list; [email protected]
Miscellaneous:
10. The Independent Board reserves the right to update the terms and conditions, statutes from time to time, in compliance with the existing rules and regulations of the association, including reserving the right to terminate the appointment to this Council Committee at any time, without notice and without the due electoral process of removal, in the following scenario:
If the member is found convicted of criminal, civil and financial crimes, in any court of competent jurisdiction, across the world, where Foundation has an active presence, either through a legal body representation or an affiliate network.
Read more on the guiding principles & diversity statement of the Foundation here.
Read more about the Foundation’s Code of Conduct here.
11. The statutes of the Foundation and terms and conditions governing its functioning can be found here. The Independent Board reserves the right to dissolve the whole Regulations Committee and initiate constitution of a new Regulations Committee.
12. The Foundation members communicate via cryptographic electronic communications systems, and technology tools licensed with global grants from Google for Non- Profits, Slack, Github, Gitbook, Atlassian, AWS, Microsoft etc. In connection to the electronic meetings convened by members of this committee, Foundation’s IT infrastructure shall be used.
If the meeting took place outside the Foundation’s communications infrastructure, then the meeting minutes must be brought back to the notice of the Executive Committee.
Upon a successful nomination and having received a passed Council Resolution "Vote IN", a new Open Council member should file their supporting documents to Serenity Membership Registry. A private link is generated by Serenity system.
Custodian: Executive Committee
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