Amendment to Sec. 2029 of Act No. 2711 (Revised Administrative Code)
Act No. 3369, approved on December 3, 1927, amends subsection (l) of Section 2029 of the Administrative Code regarding loans from the Postal Savings Bank to the Insular Government. It permits loans up to 500,000 pesos for the purchase or construction of public buildings, contingent upon obtaining prior legislative approval. Additionally, it repeals Section 2 of Act No. 2856. The act takes effect upon its approval.
Law Information
- Reference Number
- Act No. 3369
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 3, 1927
ACT NO. 3369
AN ACT TO AMEND SUBSECTION (L) OF SECTION TWO THOUSAND TWENTY-NINE OF THE ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED TWENTY-EIGHT HUNDRED AND FIFTY-SIX, RELATIVE TO LOANS TO THE INSULAR GOVERNMENT FROM THE POSTAL SAVINGS BANK
SECTION 1. Subsection (l) of section two thousand twenty-nine of the Administrative Code, as amended by Act Numbered Twenty-eight hundred and fifty-six, is hereby further amended to read as follows:
"(l) In loans to the Insular Government of not exceeding the aggregate amount of five hundred thousand pesos, for the purchase or construction of public buildings for the offices of the Insular Government: Provided, That authority from the Legislature shall be secured prior to the granting of any loan."
SECTION 2. Section two of Act Numbered Twenty-eight hundred and fifty-six is hereby repealed.
SECTION 3. This Act shall take effect on its approval.
Approved, December 3, 1927.
Cite This Law
Amendment to Sec. 2029 of Act No. 2711 (Revised Administrative Code), Act No. 3369, Dec 3, 1927 (Philippines)
Amendment to Sec. 2029 of Act No. 2711 (Revised Administrative Code), Act No. 3369 (Phil. 1927)
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