Amendment to R.A. No. 839 Re: Condonation of Debts Incurred for Public Works Destroyed During World War II
Republic Act No. 1279, enacted on June 14, 1955, amends Section One of Republic Act No. 839, condoning all debts incurred by provincial, city, or municipal governments for constructing public edifices that were destroyed during World War II. The National Government will assume these debts if they were owed to national financial institutions. However, local governments that received war damage payments must reimburse creditors an amount equivalent to the payments received. This act took effect upon approval and was published in the Official Gazette in July 1955.
Law Information
- Reference Number
- Republic Act No. 1279
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 14, 1955
REPUBLIC ACT NO. 1279
AN ACT AMENDING SECTION ONE OF REPUBLIC ACT NUMBERED EIGHT HUNDRED THIRTY-NINE
SECTION 1. Section one of Republic Act Numbered Eight hundred thirty-nine is hereby amended to read as follows: aisa dc
"SEC. 1. All indebtedness incurred by provincial, city or municipal governments for the purpose of constructing government buildings, waterworks system, markets and any other public edifices which were subsequently destroyed during the last world war are hereby condoned by the National Government, and if the provincial, city or municipal governments incurred such indebtedness from the National Government, the same shall be assumed by any bank or financial institution owned or controlled by the National Government: Provided, however, That if war damage payment was received by any such local government, an amount equivalent to such payment shall be paid by such local government to the creditor."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 14, 1955
Published in the Official Gazette, Vol. 51, No. 7, p. 3351 in July 1955
Cite This Law
Amendment to R.A. No. 839 Re: Condonation of Debts Incurred for Public Works Destroyed During World War II, Republic Act No. 1279, Jun 14, 1955 (Philippines)
Amendment to R.A. No. 839 Re: Condonation of Debts Incurred for Public Works Destroyed During World War II, Republic Act No. 1279 (Phil. 1955)
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