Update of administrative rules every five years, and two changes regarding role and responsibilities of IOR office bearers.
Christopher Francis – Vatican
Pope Francis has released some new rules of procedure for the IOR, the institution for religious affairs commonly known as the Vatican Bank.
Pope Francis, who announced these new rules in the form of the new Apostolic Constitution Praedicate Evangelium, said that the IOR’s administrative structures have been simplified, which will exempt different departments from doing the same work, and will bring the administration from one group to now under a single director.
The new rule states that the organization’s guidelines for religious services are currently updated every four years, and will be updated every five years, sometimes up to every 10 years.
The new rules issued by Pope Francis on March 7th make two changes to the five-year renewal of administrative rules and the roles and responsibilities of IOR office bearers.
Although the Director General of the IOR will continue to be appointed by its Monitoring Committee and the Cardinals will be approved by it, the new rule states that three names will be proposed and the Director General will be selected from there, and his tenure will be indefinite or for a specific period.