Auction of the Seats
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At each summit the Bourse selects citizens to fill those [[Imperial title|Imperial titles]] that have arevacant through an open auction called the Auction of the Seats. The name derives from the tradition of referring to major Bourse titles as "Bourse seats". | At each summit the Bourse selects citizens to fill those [[Imperial title|Imperial titles]] that have arevacant through an open auction called the Auction of the Seats. The name derives from the tradition of referring to major Bourse titles as "Bourse seats". | ||
Participation in the Auction of the Seats is open to all Imperial citizens. Successful bidders claim their chosen title, while all funds raised go to the [[Imperial treasury]] | |||
==Schedule== | ==Schedule== | ||
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The major Bourse seats operate to a schedule dictated by the materials produced. For example, all Imperial titles associated with the production of white granite are elected at the same summit each year | The major Bourse seats operate to a schedule dictated by the materials produced. For example, all Imperial titles associated with the production of white granite are elected at the same summit each year | ||
* [[Weirwood]] seats are re-elected at the Winter Solstice. | |||
* Weirwood seats are re-elected at the Winter Solstice. | |||
* [[Ilium]] seats and the [[Master of the Imperial Mint]] are re-elected at the Spring Equinox. | * [[Ilium]] seats and the [[Master of the Imperial Mint]] are re-elected at the Spring Equinox. | ||
* White granite seats are re-elected at the Summer Solstice. | * [[White granite]] seats are re-elected at the Summer Solstice. | ||
* Mithril seats are re-elected at the Autumn Equinox. | * [[Mithril]] seats are re-elected at the Autumn Equinox. | ||
A list of seats to be appointed at the upcoming event can be found on the [[Recent history|recent history]] page and on notices around Anvil. Once appointed, the new seat holders are announced via the Bourse noticeboard in the Hub. | A list of seats to be appointed at the upcoming event can be found on the [[Recent history|recent history]] page and on notices around Anvil. Once appointed, the new seat holders are announced via the Bourse noticeboard in the Hub. | ||
== | ==Selection== | ||
Imperial | Any Imperial citizen may hold an Imperial position, provided it is the only Imperial title they control. | ||
All Imperial titles that are auctioned through the bourse are re-elected annually. If the title is elected at the normal summit each year then the chosen citizen serves for one year until the start of the equivalent summit one year later. | |||
If an Imperial Bourse seat becomes vacant outside the normal election cycle (due to death, resignation, or excommunication of the title holder) then the seat is auctioned at the following summit. In this case, the winning bidder will only serve for the remaining term. The title becomes vacant again at the normal point in the election cycle. | |||
Bidding is in [[Currency|thrones]] and the payment for each seat is required before bidding for the next begins to prevent interested citizens bidding on seats they cannot afford. | |||
The person bidding on the seat need not be the person who takes the Imperial title if successful, but they must be present during the auction to indicate that they accept the title. It is not possible for a proxy to accept a title on another citizen's behalf, not to collect the production on a Bourse seat for them. | |||
==Production== | |||
The winning bidder immediately receives whatever wains or rings of ilium the bourse seat produced in the period running up to the summit provided they have not already been claimed from the Agent of the Bourse. | |||
The production associated with the Bourse seat is delivered to the title holder by an Agent of the Bourse before each subsequent summit until the last one. The title holder does not receive any production from a bourse seat on the run-up to the summit where the title is due to be re-elected - that is reserved for whoever wins the auction for the title at the summit. | |||
The | ==Removal== | ||
The Bourse is explicitly protected from interference from the [[Imperial Synod]] in the [[Imperial Constitution]]. Because of this, it is not possible to revoke a Bourse seat holder to remove them from their position. They serve until the title is reelected or until they die or step down. | |||
If a Bourse seat holder dies then they receive back any money they paid for the seat - in proportion to the number of seasons of production remaining. If there are two seasons production left, they get half their money back. The seat is auctioned off again - and the refund is paid to the seat holder or their estate ''after'' the auction is concluded. Any shortfall is taken from the Imperial treasury, any excess is added to it. Bourse seat holders are well-advised to leave a clear will so that Agent of the Bourse can swiftly and correctly identify who these funds should be paid to. | |||
There is no refund payable if a title is resigned. | |||
{{Bourse Further Reading}} | |||
Revision as of 17:19, 9 May 2020
Overview
At each summit the Bourse selects citizens to fill those Imperial titles that have arevacant through an open auction called the Auction of the Seats. The name derives from the tradition of referring to major Bourse titles as "Bourse seats".
Participation in the Auction of the Seats is open to all Imperial citizens. Successful bidders claim their chosen title, while all funds raised go to the Imperial treasury
Schedule
Under normal circumstances, the Auction will takes place on Saturday afternoon, at 3pm, from the Senate building. If circumstances force a change in timing or location, then the civil service update the event schedule published before the summit begins.
The major Bourse seats operate to a schedule dictated by the materials produced. For example, all Imperial titles associated with the production of white granite are elected at the same summit each year
- Weirwood seats are re-elected at the Winter Solstice.
- Ilium seats and the Master of the Imperial Mint are re-elected at the Spring Equinox.
- White granite seats are re-elected at the Summer Solstice.
- Mithril seats are re-elected at the Autumn Equinox.
A list of seats to be appointed at the upcoming event can be found on the recent history page and on notices around Anvil. Once appointed, the new seat holders are announced via the Bourse noticeboard in the Hub.
Selection
Any Imperial citizen may hold an Imperial position, provided it is the only Imperial title they control.
All Imperial titles that are auctioned through the bourse are re-elected annually. If the title is elected at the normal summit each year then the chosen citizen serves for one year until the start of the equivalent summit one year later.
If an Imperial Bourse seat becomes vacant outside the normal election cycle (due to death, resignation, or excommunication of the title holder) then the seat is auctioned at the following summit. In this case, the winning bidder will only serve for the remaining term. The title becomes vacant again at the normal point in the election cycle.
Bidding is in thrones and the payment for each seat is required before bidding for the next begins to prevent interested citizens bidding on seats they cannot afford.
The person bidding on the seat need not be the person who takes the Imperial title if successful, but they must be present during the auction to indicate that they accept the title. It is not possible for a proxy to accept a title on another citizen's behalf, not to collect the production on a Bourse seat for them.
Production
The winning bidder immediately receives whatever wains or rings of ilium the bourse seat produced in the period running up to the summit provided they have not already been claimed from the Agent of the Bourse.
The production associated with the Bourse seat is delivered to the title holder by an Agent of the Bourse before each subsequent summit until the last one. The title holder does not receive any production from a bourse seat on the run-up to the summit where the title is due to be re-elected - that is reserved for whoever wins the auction for the title at the summit.
Removal
The Bourse is explicitly protected from interference from the Imperial Synod in the Imperial Constitution. Because of this, it is not possible to revoke a Bourse seat holder to remove them from their position. They serve until the title is reelected or until they die or step down.
If a Bourse seat holder dies then they receive back any money they paid for the seat - in proportion to the number of seasons of production remaining. If there are two seasons production left, they get half their money back. The seat is auctioned off again - and the refund is paid to the seat holder or their estate after the auction is concluded. Any shortfall is taken from the Imperial treasury, any excess is added to it. Bourse seat holders are well-advised to leave a clear will so that Agent of the Bourse can swiftly and correctly identify who these funds should be paid to.
There is no refund payable if a title is resigned.