Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank
Presidential Decree No. 313, enacted on October 19, 1973, appropriates thirty million pesos (P30M) for the Republic of the Philippines to acquire three hundred thousand common shares in the Philippine Amanah Bank, which was established to provide banking services primarily to the Muslim provinces of Mindanao and Palawan. This capital subscription is mandated by Presidential Decree No. 264, which authorized the bank's establishment with a total capital stock of one hundred million pesos (P100M). The decree notes that this funding was not included in the previous appropriation decree, thus necessitating this specific allocation. The decree takes effect immediately upon issuance.
Quick Answers
- What is Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank about?
- Presidential Decree No. 313, enacted on October 19, 1973, appropriates thirty million pesos (P30M) for the Republic of the Philippines to acquire three hundred thousand common shares in the Philippine Amanah Bank, which was established to provide banking services primarily to the Muslim provinces of Mindanao and Palawan. This capital subscription is mandated by Presidential Decree No. 264, which authorized the bank's establishment with a total capital stock of one hundred million pesos (P100M). The decree notes that this funding was not included in the previous appropriation decree, thus necessitating this specific allocation. The decree takes effect immediately upon issuance.
- What type of law is Presidential Decree No. 313?
- Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank (Presidential Decree No. 313) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank enacted?
- Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank (Presidential Decree No. 313) was enacted on Oct 19, 1973.
- What is the citation for Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank?
- Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank, Presidential Decree No. 313, Oct 19, 1973 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 313
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 19, 1973
PRESIDENTIAL DECREE NO. 313
APPROPRIATING THIRTY MILLION (P30M) PESOS TO COVER THE THREE HUNDRED THOUSAND COMMON SHARES AT ONE HUNDRED PESOS A SHARE SUBSCRIBED BY THE REPUBLIC OF THE PHILIPPINES IN THE AUTHORIZED CAPITAL STOCK OF THE PHILIPPINE AMANAH BANK
WHEREAS, Presidential Decree No. 264, dated August 2, 1973, has created the Philippine Amanah Bank, with an authorized capital stock of one hundred million pesos designed "to provide credit, commercial, development and savings banking facilities at reasonable terms to the people of the primarily Muslim provinces of Mindanao and Palawan, for the establishment, acquisition, development and expansion of agricultural, commercial and industrial enterprises;"
WHEREAS, out of the authorized capital stock of one hundred million (P100M) pesos of the Philippine Amanah Bank, the Republic of the Philippines is bound to subscribe, pursuant to Section 3(a) of Presidential Decree No. 264, three hundred thousand common shares at one hundred pesos per share, equivalent to THIRTY MILLION (P30M) PESOS; cd
WHEREAS, the stock subscription of the Republic of the Philippines to the three hundred thousand common shares in the amount of thirty million (P30M) pesos has not been provided in the current Appropriation Decree No. 233, which became operative on July 1, 1973;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution and pursuant to General Order No. 1, dated September 22, 1972, issued in pursuance of Proclamation No. 1081, dated 21 September 1972, do hereby decree:
That out of the funds in the National Treasury not otherwise appropriated, the sum of Thirty Million (P30M) pesos is hereby appropriated for the purposes herein provided in this Decree. aisa dc
This Decree shall take effect immediately.
DONE in the City of Manila, this 19th day of October, in the year of Our Lord, Nineteen Hundred and Seventy-Three.
Cite This Law
Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank, Presidential Decree No. 313, Oct 19, 1973 (Philippines)
Appropriation for Shares Subscribed by the Philippines in the Authorized Capital Stock of the Philippine Amanah Bank, Presidential Decree No. 313 (Phil. 1973)
Related Laws
- Increase in Authorized Capital Stock and Appropriation of Funds for Paid-Up Capital of the Development Bank of the PhilippinesPresidential Decree No. 195 • May 19, 1973 • Presidential Issuances
- Creating the Philippine Amanah BankPresidential Decree No. 264 • Aug 2, 1973 • Presidential Issuances
- Increase in Subscription of the Philippines to Capital Stock of Asian Development BankPresidential Decree No. 32 • Oct 27, 1972 • Presidential Issuances
- Amending the Charter of the Philippine Veterans BankPresidential Decree No. 1906 • Feb 28, 1983 • Presidential Issuances
- Directives Governing Creation of the Philippine Amanah BankLetter of Instructions No. 182 • Apr 8, 1974 • Presidential Issuances
- Amending P.D. No. 264 Re: Creation of the Philippine Amanah BankPresidential Decree No. 542 • Aug 20, 1974 • Presidential Issuances
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law