An Act to Repeal Acts Numbered Twenty-Eight Hundred and Ninety-Four, Twenty-Nine Hundred and Fifty, Three Thousand and Nine, and Three Thousand and Fifty-One
Act No. 3120, approved on November 23, 1923, repeals several previous laws related to the authority of provinces, municipalities, and chartered cities in the Philippines to incur indebtedness and issue bonds. Specifically, it nullifies Acts 2894, 2950, 3009, and 3051, which collectively governed the conditions and amendments surrounding such financial activities. The repeal aims to streamline or update the legal framework governing local government financing. The Act takes effect immediately upon its approval.
Law Information
- Reference Number
- Act No. 3120
- Date Enacted
- Category
- Statutes
- Subcategory
- Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 23, 1923
ACT NO. 3120
AN ACT TO REPEAL ACTS NUMBERED TWENTY-EIGHT HUNDRED AND NINETY-FOUR, TWENTY-NINE HUNDRED AND FIFTY, THREE THOUSAND AND NINE, AND THREE THOUSAND AND FIFTY-ONE
SECTION 1. Acts Numbered Twenty-eight hundred and ninety-four, entitled "An Act granting authority to provinces, municipalities, and chartered cities to incur indebtedness and issue bonds covering the same, under certain conditions;" Twenty-nine hundred and fifty, entitled "An Act to amend Act Numbered Twenty-eight hundred and ninety-four, entitled 'An Act granting authority to provinces, municipalities, and chartered cities to incur indebtedness and issue bonds covering the same, under certain conditions;'" Three thousand and nine, entitled "An Act to amend subsection (a) of section one of Act Numbered Twenty-nine hundred and fifty, entitled 'An Act to amend Act Numbered Twenty-eight hundred and ninety-four, entitled "An Act granting authority to provinces, municipalities, and chartered cities to incur indebtedness and issue bonds covering the same, under certain conditions;" and Three thousand and fifty-one, entitled "An Act authorizing the issue of bonds of the Government of the Philippine Islands secured by bonds issued by provinces, municipalities, and chartered cities," are hereby repealed.
SECTION 2. This Act shall take effect on its approval.
Approved, November 23, 1923.
Cite This Law
An Act to Repeal Acts Numbered Twenty-Eight Hundred and Ninety-Four, Twenty-Nine Hundred and Fifty, Three Thousand and Nine, and Three Thousand and Fifty-One, Act No. 3120, Nov 23, 1923 (Philippines)
An Act to Repeal Acts Numbered Twenty-Eight Hundred and Ninety-Four, Twenty-Nine Hundred and Fifty, Three Thousand and Nine, and Three Thousand and Fifty-One, Act No. 3120 (Phil. 1923)
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