Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company
Republic Act No. 1801, enacted on June 22, 1957, amends a previous law regarding the appropriation of funds for the Manila Railroad Company's Cabanatuan Branch. The Act allocates three million eight hundred thousand pesos from bond proceeds to finance the branch's re-establishment and rehabilitation, which must be completed within two years. It also allows the President to authorize the purchase of shares in the company using the allocated funds, with a repayment obligation established five years after the project's inauguration. The law became effective upon its approval and was published in the Official Gazette on September 15, 1957.
Quick Answers
- What is Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company about?
- Republic Act No. 1801, enacted on June 22, 1957, amends a previous law regarding the appropriation of funds for the Manila Railroad Company's Cabanatuan Branch. The Act allocates three million eight hundred thousand pesos from bond proceeds to finance the branch's re-establishment and rehabilitation, which must be completed within two years. It also allows the President to authorize the purchase of shares in the company using the allocated funds, with a repayment obligation established five years after the project's inauguration. The law became effective upon its approval and was published in the Official Gazette on September 15, 1957.
- What type of law is Republic Act No. 1801?
- Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company (Republic Act No. 1801) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company enacted?
- Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company (Republic Act No. 1801) was enacted on Jun 22, 1957.
- What is the citation for Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company?
- Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company, Republic Act No. 1801, Jun 22, 1957 (Philippines)
Law Information
- Reference Number
- Republic Act No. 1801
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1957
REPUBLIC ACT NO. 1801
AN ACT TO AMEND SECTION ONE OF REPUBLIC ACT NUMBERED ONE THOUSAND TWO HUNDRED AND NINETY, ENTITLED "AN ACT APPROPRIATING THE SUM OF THREE MILLION EIGHT HUNDRED THOUSAND PESOS, OUT OF THE PROCEEDS OF THE BOND ISSUE AUTHORIZED BY REPUBLIC ACT NUMBERED ONE THOUSAND, TO FINANCE THE RE-ESTABLISHMENT AND REHABILITATION BY THE MANILA RAILROAD COMPANY OF ITS CABANATUAN BRANCH EXTENDING FROM THE MUNICIPALITY OF PLARIDEL, PROVINCE OF BULACAN, TO THE CITY OF CABANATUAN"
SECTION 1. Section one of Republic Act Numbered One thousand two hundred and ninety is hereby amended to read as follows: cdt
"Sec. 1. Out of the proceeds of the bond issue authorized by Republic Act Numbered One thousand, there is appropriated the sum of three million eight hundred thousand pesos to finance the re-establishment and rehabilitation by the Manila Railroad Company of its Cabanatuan Branch extending from the Municipality of Plaridel, Province of Bulacan, to the City of Cabanatuan, within a period of two years from the date of the approval of this Act: Provided, That nothing in this provision shall prevent the President of the Philippines from authorizing the Secretary of Finance to subscribe and purchase nineteen thousand shares of capital stock of the Manila Railroad Company of the Philippine Islands of the par value of three million eight hundred thousand pesos, the purchase and subscription thereof to be paid out of the funds herein appropriated, to finance the re-establishment and rehabilitation by the Manila Railroad Company of its Cabanatuan Branch: Provided, further, That five years from the inauguration of the project, the Manila Railroad Company shall pay the necessary periodic amortization and interest for the redemption upon maturity of the bonds floated to finance the project." cd i
SECTION 2. This Act shall take effect upon its approval.
Approved: June 22, 1957
Published in the Official Gazette, Vol. 53, No. 17, p. 5575 on September 15, 1957
Cite This Law
Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company, Republic Act No. 1801, Jun 22, 1957 (Philippines)
Amendment to R.A. No. 1290 Re: Rehabilitation of Manila Railroad Company, Republic Act No. 1801 (Phil. 1957)
Related Laws
- Appropriation of Funds for Rehabilitation of Manila Railroad Company's Cabanatuan BranchRepublic Act No. 1290 • Jun 15, 1955 • Statutes
- Rehabilitation of Manila Railroad CompanyCommonwealth Act No. 707 • Nov 1, 1945 • Statutes
- Amendment to Act No. 554 (Grant of Franchise to Manila Railroad Company)Act No. 704 • Mar 27, 1903 • Statutes
- Appropriation of Funds for Extension of Manila Railroad CompanyRepublic Act No. 1867 • Jun 22, 1957 • Statutes
- Amendment to Act No. 555 (Grant of Franchise to Manila Railroad Company)Act No. 705 • Mar 27, 1903 • Statutes
- Amendment to R.A. No. 1623 Re: Extension of Manila Railroad Co. to Matnog, SorsogonRepublic Act No. 2638 • Jun 18, 1960 • Statutes
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