Asserting that the province of World Assembly legislation is the governance of issues of international importance, including, but not limited to, the establishment of universal rights, the negotiation of competing member nation interests, addressing nation-level decision-making on issues that have international impact, or the promotion of international harmony and peace,
Finding that the target deals with the far more granular issue of money market funds, a specific type of financial instrument that serves as a high-risk alternative to standard banking, a topic which is not only more effectively governed at the national and local level, but which does not align and may even wholly conflict with the economic system in many member nations,
Noting that, despite this, WA nations, acting through resolution-defined authorities, must both enact and make known minimum standards related to this type of financial instrument,
Particularly concerned that the language used to dictate this requirement and in many other areas of the resolution are written in impenetrable jargon that calls into question the understanding of legislators who ratified the resolution, in consideration of the highly specialized knowledge, or at least a large time investment, required to fully understand the ramifications thereof,
Unconvinced that the proviso at the end of the resolution which leaves to member nations the privilege to decide if money market funds are sold divests them of the imposed duties described,
Moreover reaffirming that the existence of many member nations for which money market funds are wholly irrelevant advertises the target's lack of international legislative propriety,
The General Assembly hereby repeals GA#746 "Money Markets Funds Protocol."
