An Act Amending Sections Sixty-Eight and Seventy of Act Numbered Fourteen Hundred and Fifty-Nine, "The Corporation Law," in Such Manner as to Make it More Feasible for Foreign Corporations to Comply with the Provisions of Said Act
Act No. 1506, enacted on June 29, 1906, amends specific provisions of the Philippine Corporation Law to facilitate compliance for foreign corporations. It modifies Section 68 to allow the Secretary of Finance and Justice or the Secretary of Commerce and Police to determine the timeframe for presenting statements, rather than a fixed sixty days. Additionally, Section 70 is amended to extend the compliance period from six months to ten months. The act underscores the urgency of its passage for public benefit and takes effect immediately upon enactment.
Law Information
- Reference Number
- Act No. 1506
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 29, 1906
ACT NO. 1506
AN ACT AMENDING SECTIONS SIXTY-EIGHT AND SEVENTY OF ACT NUMBERED FOURTEEN HUNDRED AND FIFTY-NINE, "THE CORPORATION LAW," IN SUCH MANNER AS TO MAKE IT MORE FEASIBLE FOR FOREIGN CORPORATIONS TO COMPLY WITH THE PROVISIONS OF SAID ACT
SECTION 1. Section sixty-eight of Act Numbered Fourteen hundred and fifty-nine, "The Corporation Law," is hereby amended by striking out therefrom the words "within sixty days of the date of presenting the statement" and inserting in lieu thereof the words "within a number of days to be fixed by the Secretary of Finance and Justice, or the Secretary of Commerce and Police, as the case may be, prior to the date of presenting the statement."
SECTION 2. Section seventy of said Act is hereby amended by striking out the words "six months" and inserting in lieu thereof the words "ten months."
SECTION 3. The public good requiring the speedy enactment of this bill, the passage of the same is hereby expedited in accordance with section two of "An Act prescribing the order of procedure by the Commission in the enactment of laws," passed September twenty-sixth, nineteen hundred.
SECTION 4. This Act shall take effect on its passage.
ENACTED, June 29, 1906.
Cite This Law
An Act Amending Sections Sixty-Eight and Seventy of Act Numbered Fourteen Hundred and Fifty-Nine, "The Corporation Law," in Such Manner as to Make it More Feasible for Foreign Corporations to Comply with the Provisions of Said Act, Act No. 1506, Jun 29, 1906 (Philippines)
An Act Amending Sections Sixty-Eight and Seventy of Act Numbered Fourteen Hundred and Fifty-Nine, "The Corporation Law," in Such Manner as to Make it More Feasible for Foreign Corporations to Comply with the Provisions of Said Act, Act No. 1506 (Phil. 1906)
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