Petition for Optimal Regulation
Use the following form to file a petition: Petition for Optimal Regulation
A Petition for Optimal Regulation is essentially a request that the Technical Secretary of Próspera ZEDE promulgate a new regulation that you have designed. The advantage of this petition process, which is authorized under the Próspera Industrial Regulation Statute, is that final approval by our national oversight agency (CAMP) will only take 15 days after promulgation by Próspera ZEDE, as opposed to the usual 60 days for a new regulatory Statute. Any (e)Resident may petition the Technical Secretary and Próspera Council for recognition of its proposed regulation. We recommend that any proposed new regulation consist of either:
- All or a combination of elements of the existing regulations from the Republic of Honduras outside of Próspera (including both general and special regulation, such as “Maquila” special regulation) or any Best Practice Peer Country, including those of any subnational governing body therein, which would govern the Regulated Industry in which the Regulated Industry Person proposes to operate or do business in Próspera, as if such operations and business were conducted within a designated location within such jurisdiction; or
- New and innovative regulations that are based on principles of regulatory best practices for governing the Regulated Industry in which the Regulated Industry Person proposes to operate and do business in Próspera.
Regardless of what regulatory source or ideas inspire your proposal, to be considered for approval by Próspera regulation, the petition must be:
- Publicly presented at a regular meeting of the Próspera Council.
- Include a verbatim statement of the regulation(s) which the Regulated Industry Person proposes to adopt for itself, as well as the sourcing of each regulation to:
- a specific published regulation of the Republic of Honduras outside of Próspera or any Best Practice Peer Country; or
- principles of regulatory best practices
- Ensure the verbatim statement is drafted in general and uniform language so as to ensure the proposed regulations are capable of adoption by any similarly situated Regulated Industry Person.
- Propose a method for ascertaining and demonstrating compliance with the regulations the Regulated Industry Person proposes to adopt.
- Ensure the methodology proposed is drafted in general and uniform language so as to be capable of adoption by any similarly situated Regulated Industry Person.
- Include indemnification of Próspera from liability arising from approval of the petition.
- Include an objective and scientific method of ascertaining the effectiveness of the proposed regulations in achieving their asserted public policy objectives.
The Próspera Council may approve or disapprove the petition based on any legitimate public policy consideration as well as whether the petition complies with the requirements above, subject to the due process guarantees of the Resident Bill of Rights.
While the petition is pending before the Próspera Council, and provided that the petitioning Regulated Industry Person is operating and doing business in compliance with the regulations proposed therein in good faith, the petitioning Regulated Industry Person shall not be liable for the penalty or injunctive remedy authorized by Section 6 of the Próspera Industrial Regulation Statute (3x damages). Note, however, that the requirement of obtaining supplemental regulatory insurance for your Regulated Industry remains in effect under the Próspera Financial Responsibility Statute and Resolution.
If the petition is approved, the resulting Próspera regulation shall:
- State verbatim the approved regulations and method of demonstrating and ascertaining compliance with the regulations as proposed by the petition.
- State that any Regulated Industry Person who both elects to adopt such regulation in connection with operating or doing business in the respective Regulated Industry within Próspera, and also demonstrates compliance therewith as provided therein, shall be conclusively deemed in compliance with the Próspera Regulatory Mandate (Section 5 of the Próspera Industrial Regulation Statute); and such Regulated Industry Person shall not be subject to the penalty or injunctive remedy authorized by Section 6 of the Próspera Industrial Regulation Statute (3x damages).