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The Royal Monetary Authority of Bhutan was established under the Royal Monetary Authority of Bhutan Act of 1982. Subsequently, the Act of 1982 was amended by the Financial Institutions Act of 1992 and replaced in its entirety by the Royal Monetary Authority Act of 2010. [2] [3] [4] [5]
A supreme audit institution is an independent national-level institution which conducts audits of government activities. [ 1 ] [ 2 ] Most supreme audit institutions are established in their country's constitution, and their mandate is further refined in national legislation. [ 3 ]
In 2008, the Constitution of Bhutan codified the substantive and procedural framework of the Royal Court of Justice. Article 21 of the Constitution establishes a system of royal appointments for the High Court and Supreme Court, and sets forth the role of each level of administration.
Bhutanese legislation is created by the bicameral Parliament of Bhutan.Either the Monarch Druk Gyalpo or the non-partisan house National Council or the seat of the Government National Assembly may admit bills into Parliament to be passed as acts, with the exception of money and financial bills, which are the sole purview of the National Assembly.
It is also listed on the Royal Securities Exchange of Bhutan. [ 1 ] As of December 31, 2014, the bank's paid-up capital amounted to Nu 449.712 million, with ownership distributed among Punjab National Bank (51%), Bhutanese promoters (19%), and the general public (30%).
A royal guard of Bhutan in 1905 The Royal Bhutan Army Chief of Staff (left) and Indian Army Chief of Staff (right) in 2006. The Royal Bhutan Army is Bhutan's military service and is the weakest armed force in the world, in terms of Power Index, according to the Global Firepower survey. [109] It includes the royal bodyguard and the Royal Bhutan ...
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In 1992, the Austrian Development Agency (ADA) set up a field office in the capital city of Bhutan, Thimpu. Bhutan has had derived technology related to renewable energy, forestry and agriculture and tourism. [6] The ADA has supported numerous developmental projects in Bhutan ranging from governance to energy as well as poverty reduction. [7]