Amendment to Sec. 12 of Act No. 3050 (Teachers' Pension Law)
Act No. 3768, approved on November 28, 1930, amends Section 12 of Act No. 3050, which established annual pensions for teachers in Philippine public schools. The amendment creates a "Pension and Investment Board" consisting of seven members appointed by the Governor-General with Senate consent, with staggered terms of one to three years. This Board is responsible for reporting to the Governor-General annually and recommending budget allocations for retirement allowances and related expenses when needed funds are insufficient. The Act takes effect upon its approval.
Law Information
- Reference Number
- Act No. 3768
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 28, 1930
ACT NO. 3768
AN ACT TO AMEND SECTION TWELVE OF ACT NUMBERED THREE THOUSAND AND FIFTY, ENTITLED "AN ACT TO PROVIDE ANNUAL PENSIONS FOR TEACHERS EMPLOYED IN THE PHILIPPINE PUBLIC SCHOOLS, TO APPROPRIATE MONEY AND REGULATE THE DISBURSEMENT THEREOF," AND FOR OTHER PURPOSES
SECTION 1. Section twelve of Act Numbered Three thousand and fifty, is hereby amended to read as follows:
"SEC. 12. There is hereby constituted for the enforcement of this Act a 'Pension and Investment Board,' consisting of seven members who shall be appointed by the Governor-General with the consent of the Senate. Three of the members shall be appointed for a period of three years; two members for a period of two years; and two members for a period of one year. Upon the expiration of their terms of office, their successors shall be appointed for a period of three years. In case of a vacancy, the person that shall be appointed to occupy the vacancy shall hold office only for the unexpired term of his predecessor. The 'Pension and Investment Board' shall during the month of July of each fiscal year submit to the Governor-General a report of operations under the provisions of this Act and shall recommend to the Governor-General for inclusion in the Insular Budget for the fiscal year to follow, a sum sufficient to pay the retirement allowances and other expenses for that fiscal year whenever the funds made available by the operation of sections eight, nine, and ten of this Act are insufficient."
SECTION 2. This Act shall take effect on its approval.
Approved, November 28, 1930.
Cite This Law
Amendment to Sec. 12 of Act No. 3050 (Teachers' Pension Law), Act No. 3768, Nov 28, 1930 (Philippines)
Amendment to Sec. 12 of Act No. 3050 (Teachers' Pension Law), Act No. 3768 (Phil. 1930)
Related Laws
- Amendment to Sec. 13 of Act No. 3050 (Teachers' Pension Law)Act No. 3769 • Nov 28, 1930 • Statutes
- Amendment to Sec. 2 of Act No. 3050 (Teachers' Pension Law)Act No. 3629 • Dec 6, 1929 • Statutes
- Amendments to Act No. 3050 (Teachers Pension Law, as Amended)Act No. 4010 • Dec 5, 1932 • Statutes
- Amendment to Sec. 13 of Act No. 3050Act No. 3840 • Nov 9, 1931 • Statutes
- An Act to Provide Annual Pensions for Teachers Employed in the Philippine Public Schools; to Appropriate Money and Regulate the Disbursement ThereofAct No. 3050 • Mar 10, 1922 • Statutes
- Authority to Teachers Contributing to the "Teachers' Pension and Disability Fund" to Secure Loans TherefromAct No. 3939 • Nov 29, 1932 • Statutes
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