Member of Parliament, Mongolia
The law on Human Development Fund is a very important law in the evolution of democracy. It is a law that recognizes citizen ownership of common properties and the distribution of citizen ownership dividend. The law was passed in 2009.As a member of the State Great Khural, L.Bold initiated a draft law on Bayanmongol Corporation which has served as the basis for the law on Human Development Fund passed later by the Parliament.
Bold also proposes setting up an independent national company that holds common wealth and distributes dividends to citizens. It is similar to the Alaska Permanent Fund, which is also independent from the government.Parliament Speaker D.Demberel said :“ Just now Parliament approved very important law. This is not about simply distributing money to citizens. This has created legal environment that decided to have citizens receive a share from revenues gained from minerals.”