Deposit of Government Funds with the Veterans Bank

June 29, 1964 REVENUE MEMORANDUM ORDER NO. 39-64 TO : All Revenue Operation Heads, Division Chiefs, Regional Directors, Chief Revenue Officers, Collection Agents, and others concerned For the information and guidance of all concerned, there is quoted hereunder General Circular No. 90 of the General Auditing Office, dated June 18, 1964: cdt SUBJECT : Deposit of government funds with the Veterans Bank. "TO : ALL DEPARTMENT SECRETARIES, BUREAU DIRECTORS, MANAGERS OF GOVERNMENT-OWNED AND/OR CONTROLLED CORPORATIONS, CORPORATION AUDITORS, AND ALL OTHERS CONCERNED: Quoted hereunder is the pertinent provisions of Section 27 of Republic Act No. 3513 creating the Philippine Veterans Bank, which is self-explanatory: "Sec. 27. Veterans Bank Authorized to receive deposit of government funds as a Government Depository . The Secretary of Finance, the National Treasurer and his authorized representatives, city and municipal treasurers as well as official custodians of public funds or those belonging to government-owned or controlled corporations are hereby authorized if they so desire to make and actually maintain deposits of any government or corporate funds with the Veterans Bank, which is hereby declared to be a government depository." In view hereof, this Office will have no objection for any government office to deposit its funds with the Philippine Veterans Bank." casia "(SGD) PEDRO M. GIMENEZ Auditor General" (SGD.) BENJAMIN N. TABIOS Acting Commissioner of Internal Revenue