Amendment to Section 1 of Commonwealth Act No. 11
Commonwealth Act No. 24, enacted on August 31, 1936, amends Section 1 of Commonwealth Act No. 11. It transfers the powers previously held by the Board of Control or Committee regarding government-held stock in various business companies (including the Philippine National Bank and the National Coal Company) to the President of the Philippines or individuals designated by him. This change centralizes authority over these government investments in the executive branch. The Act takes effect immediately upon approval.
Law Information
- Reference Number
- Commonwealth Act No. 24
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
August 31, 1936
COMMONWEALTH ACT NO. 24
AN ACT TO AMEND SECTION ONE OF COMMONWEALTH ACT NUMBERED ELEVEN
SECTION 1. Section one of Commonwealth Act Numbered Eleven is hereby amended to read as follows:
"SECTION 1. All powers heretofore vested in the Board of Control or Committee representing the stock held by the Government of the Philippines in the business companies hereinafter named, by Act Numbered Two thousand six hundred and twelve, as amended by Act Numbered Two thousand seven hundred forty-seven, and as further amended by Act Numbered Two thousand nine hundred and thirty-eight, creating the Philippine National Bank; by Act Numbered Two thousand seven hundred and five, creating the National Coal Company; by Act Numbered Two thousand eight hundred and fourteen, creating the National Petroleum Company; by Act Numbered Two thousand eight hundred and forty-nine, creating the National Development Company; by Act Numbered Two thousand eight hundred and sixty-two, creating the National Iron Company; and by Act Numbered Two thousand seven hundred and fifty-two, affecting the Manila Railroad Company of the Philippine Islands, are hereby vested in the President of the Philippines or in such person or persons as he may, from time to time, designate."
SECTION 2. This Act shall take effect upon its approval.
Approved, August 31, 1936.
Cite This Law
Amendment to Section 1 of Commonwealth Act No. 11, Commonwealth Act No. 24, Aug 31, 1936 (Philippines)
Amendment to Section 1 of Commonwealth Act No. 11, Commonwealth Act No. 24 (Phil. 1936)
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