Concept:A federal system divides legislative powers between the central government and component units using defined lists.
Explanation:The exclusive legislative list contains matters on which only the federal government can make laws.
Currency, armed forces, and national defense require uniform handling across the whole country.
Thus, they are placed on the exclusive list rather than under local or regional control.
A Local Government Chairman only administers local matters.
The Armed Forces Ruling Council is not the primary legislative authority for these functions.
The Security and Exchange Commission supervises the capital market, not national defense.
Therefore, such essential subjects fall solely within the federal government's legislative competence.
This arrangement preserves unity and prevents separate regional policies on critical national issues.
Answer:D. Exclusive list