An Act to Stabilize the Prices of Buntal Fibers
Commonwealth Act No. 147, enacted on November 7, 1936, authorizes the National Development Company (NDC) to stabilize the prices of buntal fibers by establishing a minimum unit price based on historical averages. If local demand is insufficient, the NDC is empowered to purchase excess fiber at or above the minimum price and can export or sell it as needed. The Act allocates five hundred thousand pesos from the Treasury to support these activities, and the NDC is required to report on its expenditures and profits to the National Assembly. The law takes effect on January 1, 1937.
Law Information
- Reference Number
- Commonwealth Act No. 147
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 7, 1936
COMMONWEALTH ACT NO. 147
AN ACT TO STABILIZE THE PRICES OF BUNTAL FIBERS, BY DIRECTING AND AUTHORIZING THE NATIONAL DEVELOPMENT COMPANY TO FIX THE MINIMUM UNIT PRICE THEREOF, AND TO APPROPRIATE THE SUM OF FIVE HUNDRED THOUSAND PESOS FOR THE PURCHASE BY THE NATIONAL DEVELOPMENT COMPANY OF THE FIBER IN EXCESS OF DOMESTIC DEMANDS
SECTION 1. The National Development Company is hereby authorized and directed to classify buntal fiber, and to fix a minimum unit price for each class of buntal fiber, based upon the average price thereof during the preceding five years. Should local demand for buntal fiber fall below the supply, the excess fiber shall be acquired by the National Development Company for a price not less than the minimum price therefor, as fixed by it, and may be exported or otherwise disposed of by said company, all provisions of existing laws to the contrary notwithstanding. SEIcHa
SECTION 2. The sum of five hundred thousand pesos is hereby appropriated out of the funds in the Treasury of the Philippines not otherwise appropriated, to be used by the National Development Company to carry into effect the purposes of this Act. The National Development Company shall, within the first ten days of the next regular session of the National Assembly, report to it on expenditures made and profits realized from the aforesaid fund, for final disposition by the Assembly.
SECTION 3. This Act shall take effect on January first, nineteen hundred and thirty-seven.
Approved, November 7, 1936.
Cite This Law
An Act to Stabilize the Prices of Buntal Fibers, Commonwealth Act No. 147, Nov 7, 1936 (Philippines)
An Act to Stabilize the Prices of Buntal Fibers, Commonwealth Act No. 147 (Phil. 1936)
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