Law No. (10) of 2012 on disbursing a sum of money to Libyan families on the first anniversary of the 17 February Revolution

Law No. (10) of 2012

on disbursing a sum of money to Libyan families on the first anniversary of the 17 February Revolution

The National Transitional Council:

Upon review of:

• The Victory Statement of the 17 February Revolution issued on 22 February 2011;
• The Constitutional Declaration issued on 3 August 2011;
• The bylaws of the National Transitional Council;
• Law No. (1) of 2005 on banks;
• Based on the proposal of the financial advisory committees in the Interim National Transitional Council;
• And on what was discussed in the National Transitional Council meeting on Tuesday 23 Rabi’ al-Awwal 1433 AH corresponding to 14/02/2012 AD.

issued the following law:

Article (1)

On the occasion of the first anniversary of the glorious 17 February Revolution, two thousand Libyan Dinars (2,000 LYD) shall be disbursed to every Libyan family, or two hundred LYD (200 LYD) for every unmarried family member.

Article (2)

The Central Bank of Libya shall determine the disbursement regulations and mechanisms.

Article (3)

This law shall enter into force from its date of issuance and each party shall implement it within their mandate. It shall be notified to the transitional government and local councils and it shall be published in media outlets.

Interim National Transitional Council –– Libya

Issued in Tripoli

On Tuesday 23 Rabi’ al-Awwal 1433 AH

Corresponding to 14/02/2012 AD