Community Tax & Commerce, and Central Economy Settlement, 2026

National Security Framework of Antarctica (NSF-A)

Article-Style Policy Text — Effective 1 October 2025

Article 1 — Purpose & Scope

1.1 This Policy establishes two core fiscal–commercial authorities and the corporate forms recognised under the National Security Framework.

1.2 It sets incorporation rules, licensing, automated taxation, securities treatment (international shares model), disclosures, supervision, and enforcement.

1.3 Domestic compliance only: Foreign standards may inform practice but do not substitute NSF-A authorisations.

Article 2 — Competent Authorities

2.1 Department for Community Tax & Commerce (DCTC).

Leads company registration, community tax, indirect taxes, trade permits, commercial registries, and market conduct inspections.

2.2 Department for Central Economy (DCE).

Single sovereign authority for central economic policy, securities & markets oversight, financial stability, commercial legal services coordination, and systemic risk. DCE is the escalation point for capital markets, tokenisation, and settlement rails.

Article 3 — Corporate Forms (Registered Company Types)

All entities are government-owned land lessees (no freehold). Select one of the following legal persons; each files a constitutional instrument and shareholder/member register in Certified Digital Democracy (CDD).

1. Private Enterprise (PrivE) — Ownership: Shares
2. Closely held; private offerings only unless DCE approves a listing venue.
3. Board required; minority protections; transfer restrictions allowed.
4. Public Enterprise (PublE) — Ownership: Shares
5. Eligible for public offers/listings authorised by DCE.
6. Continuous disclosure; audited financials; free float thresholds may apply.
7. Limited Liability Enterprise (LimiLE) — Ownership: Members
8. Liability limited to contributions; member units recorded on CDD; manager- or member-managed.
9. Unlimited Enterprise (UniE) — Ownership: Units
10. Owners have unlimited liability; permitted only where professional indemnity and bonding meet DCE floors; often used for specialist partnerships.
11. Community of Interest (CI) — Ownership: Fiduciaries
12. Purpose-bound fiduciary structure (foundation/trust-like).
13. Steward board; beneficiaries defined in charter; profit distribution constrained by purpose tests.

3.1 Capital & registers. All equity/unit/fiduciary interests are natively registered on CDD; paper certificates have no legal effect.

3.2 Governance minimums. Fit-and-proper directors/fiduciaries; conflicts register; whistleblowing route; audited accounts per DCE standards.

Article 4 — Licensing & Authorisations

4.1 Commercial Science Licence (CSL) — mandatory for all companies.

1. CSL L3 baseline to conduct any commercial negotiation.
2. Bachelor-level clearance for contracts > USD 75,000.
3. Advanced clearance + risk review for contracts > USD 3,000,000.

4.2 Sector & market licences. Media/ARL (MIM), utilities, ports/air, finance, health, security, etc., as applicable.

4.3 Digital Infrastructure Licence (DIL). Required where the entity runs IT/OT that processes regulated data or payments.

Article 5 — Taxation, Reporting & Settlement (CDD)

5.1 Automated taxes. All taxes are automated on CDD (permissioned blockchain): real-time invoice posting, withholding, VAT/sales, payroll, duties, and settlement proofs.

5.2 Single ledger. Corporate filings, cap tables, beneficial ownership, financial statements, and tax returns are immutably hashed to CDD; manual side ledgers are prohibited.

5.3 Privacy tiers. Public summaries vs restricted details (available to DCTC/DCE or under lawful request).

Article 6 — Information Controls (MIM)

6.1 Market Information Monopoly (MIM). All public communications (investor decks, prospectuses, ads, websites, social posts) require an Annual Review Licence (ARL) and must match CDD facts.

6.2 Contraband information. Unfranchised distribution, misleading claims, or off-ledger statistics trigger takedown and sanctions.

Article 7 — International Shares Model (Instruments Overview)

DCE recognises the following instruments and exchange-traded vehicles, with eligibility, disclosure, and settlement defined by rulebook. Risk/return/liquidity are indicative.

1) Equities (Ownership)

1. Common Shares: Voting, residual claim, dividends not guaranteed — High risk / High return.
2. Preferred Shares: Priority dividends, typically non-voting, hybrid traits.
3. Warrants & Rights: Time-limited rights to subscribe at a fixed price; speculative.

2) Exchange-Traded Products (ETF-like)

1. ETFs: Baskets tracking indices/sectors/commodities/bonds; low cost, diversified, very liquid.
2. ETNs: Bank debt notes tracking an index; issuer credit risk.
3. ETCs: Commodity trackers; often physically backed (e.g., bullion).

3) Funds (Non-Exchange)

1. Mutual Funds: Priced at NAV; higher fees; broad access.
2. Hedge Funds: Leverage/derivatives; absolute-return aims; restricted to qualified investors.
3. Private Equity/VC: Illiquid, long lock-ups; very high risk/return.

4) Debt (Lending)

1. Bonds: Government (lower risk) and corporate (higher yield).
2. T-Bills/Notes: Short-/medium-term government paper; very liquid, very low risk.

5) Derivatives

1. Options: Rights to buy/sell; hedging/speculation; may expire worthless.
2. Futures: Obligations at a set future date; margining required.
3. Swaps: Institutional cash-flow exchanges (e.g., fixed–floating).

6) Structured & Hybrids

1. Convertible Bonds: Debt convertible to equity; lower coupon, equity upside.
2. Structured Notes: Bond + derivative payoff; complex/opaque—qualified investors only.

7) Alternatives & Real Assets

1. REITs: Listed real-estate portfolios; income-centric.
2. Infrastructure Funds: Utilities/transport/energy; stable cash flows.
3. Commodities/Collectibles: Hedge and diversification uses.

8) Digital & Tokenised Assets

1. Tokenised Equities: On-chain representation of real shares; fractional ownership; faster settlement.
2. Security Tokens: Regulated digital securities (equity, debt, revenue share).
3. Stablecoins/Digital Units: Settlement liquidity; not ownership by themselves.

Ultra-Short Comparison

Article 8 — Issuance, Listing & Tokenisation

8.1 Issuance. Term sheets, offering docs, and corporate actions are filed to CDD; MIM-licensed investor materials only.

8.2 Listing venues. DCE approves exchanges/MTFs/ATS and on-chain venues; continuous disclosure and market-abuse rules apply.

8.3 Tokenisation. Native CDD registration; on-chain settlement finality; investor whitelists; travel-rule compliance; stablecoin rails permitted under DCE rulebook.

Article 9 — Prudential & Conduct Requirements

9.1 Fit-and-proper. Controllers, directors, and senior managers must pass integrity and competency checks.

9.2 Client assets. Segregation, qualified custodians, on-chain proof of reserves for tokenised products.

9.3 Disclosure cadence. Annual audited financials; semi-annual updates; immediate disclosure of material events.

9.4 Antitrust & Antiterrorism hooks. Misleading financial/medical/legal claims or coercive financing trigger Scope Restriction Orders or Protective Disruption Orders with ledgered reasons in CDD.

Article 10 — Tax, Duties & Dividends

10.1 Withholding & VAT. Assessed and remitted automatically via CDD at settlement.

10.2 Dividends & coupons. Payable through CDD wallets; gross-up/withholding calculated in real time; investor tax certificates downloadable.

10.3 Transfer taxes/duties. Calculated on-chain per instrument and residency rules.

Article 11 — Filing, Audit & API Access

11.1 Filings. Constitution, BO registers, financials, CSL status, and instrument terms are machine-readable on CDD.

11.2 Audit. Independent auditors registered with DCE; reports hashed to CDD; CAPA deadlines enforced.

11.3 Developer/API. Read/write endpoints for authorised parties to post corporate actions, taxes, and investor communications; SBOMs and MPSL attestation mandatory.

Article 12 — Investigations & Prohibitions

12.1 Investigations. Only State Protection Authorities (SPA) may investigate. Private/foreign investigative activity is prohibited.

12.2 Prohibited conduct. Off-ledger transactions, unlicensed solicitations, insider dealing, market manipulation, sham valuations, contraband information.

12.3 Sanctions. Fines, licence suspension/revocation (CSL/DIL/market), disgorgement, asset seizure, officer blacklisting, and criminal referral.

Article 13 — Appeals & Ombuds

13.1 Appeals. Administrative appeal within 15 working days; emergency measures are not stayed.

13.2 Ombuds. Protected channels for whistleblowing; anti-retaliation enforced; all submissions referenced in CDD.

Article 14 — Transitional & Final Provisions

14.1 Transition. Existing entities must: obtain CSL and re-register cap tables on CDD within 180 days; align disclosures and MIM licensing within 90 days.

14.2 Supremacy. This Policy supersedes conflicting guidance from the effective date.

Plain Guidance (Operator Checklist)

1. Pick a legal form (PrivE / PublE / LimiLE / UniE / CI).
2. Obtain CSL (L3 baseline; higher gates for larger contracts).
3. Register governance, ownership, and tax on CDD (automation by default).
4. Use MIM for all public investor communications.
5. For securities, follow the International Shares Model and DCE listing/tokenisation rules.
6. Keep filings current; audits on time; expect inspections.

Contacts:

1. DCTC (Registration & Tax): dctc@nsf-antarctica.org
2. DCE (Markets & Systemic Policy): dce@nsf-antarctica.org
3. Licensing (CSL/DIL/MIM): licensing@nsf-antarctica.org
4. Ombuds: ombuds-finance@nsf-antarctica.org

One ledger for ownership, one voice for markets, and automated tax by design—so commerce can move fast without breaking trust.