Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration
Republic Act No. 4693, enacted on June 18, 1966, establishes a revolving Special Trust Fund under the Agricultural Credit Administration to facilitate agricultural development in the Philippines. The fund, not exceeding fifty million pesos, is sourced from the proceeds of sales of agricultural equipment and supplies procured through reparations from Japan. Proceeds are to be reinvested in similar locally-manufactured items, unless such items are unavailable or more expensive than alternatives. The Agricultural Credit Administration is tasked with administering the fund and creating necessary regulations. This Act repeals any inconsistent laws and takes effect upon approval.
Quick Answers
- What is Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration about?
- Republic Act No. 4693, enacted on June 18, 1966, establishes a revolving Special Trust Fund under the Agricultural Credit Administration to facilitate agricultural development in the Philippines. The fund, not exceeding fifty million pesos, is sourced from the proceeds of sales of agricultural equipment and supplies procured through reparations from Japan. Proceeds are to be reinvested in similar locally-manufactured items, unless such items are unavailable or more expensive than alternatives. The Agricultural Credit Administration is tasked with administering the fund and creating necessary regulations. This Act repeals any inconsistent laws and takes effect upon approval.
- What type of law is Republic Act No. 4693?
- Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration (Republic Act No. 4693) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration enacted?
- Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration (Republic Act No. 4693) was enacted on Jun 18, 1966.
- What is the citation for Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration?
- Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration, Republic Act No. 4693, Jun 18, 1966 (Philippines)
Law Information
- Reference Number
- Republic Act No. 4693
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1966
REPUBLIC ACT NO. 4693
AN ACT CREATING A REVOLVING SPECIAL TRUST FUND UNDER THE AGRICULTURAL CREDIT ADMINISTRATION FOR AGRICULTURAL DEVELOPMENT
SECTION 1. Pursuant to the provisions of Republic Act Numbered One thousand seven hundred eighty-nine, as amended, otherwise known as the Reparations Law, there is hereby created and appropriated out of the proceeds of sales of farm facilities, machineries and equipment, fertilizer, insecticides, pesticides, tillage equipment and other farm needs and facilities for agricultural development purposes procured through reparations from Japan and resold to farmers and/or farmers' cooperative in cash or in credit, a revolving Special Trust Fund of not exceeding fifty million pesos for the Agricultural Credit Administration to carry out the purposes and objectives of its charter: Provided, That the amount to cover the cost for freight, insurance and other expenses incident to the importation of said commodities shall be advanced out of the Special Economic Development Fund. cdt
SECTION 2. The proceeds from the sale of such farm facilities, machineries and equipment, fertilizers, insecticides, pesticides and other farm needs and facilities for agricultural development purposes shall be used exclusively for the subsequent procurement of similar items from local manufacturers, except where locally-manufactured items are not available in the market or when the price of locally-manufactured items exceed the price of any such item as determined by Commonwealth Act Numbered One hundred thirty-eight, otherwise known as the Flag Law.
SECTION 3. To carry out the purposes and provisions of this Act, the Agricultural Credit Administration is hereby designated and directed to administer, execute and implement the same, and to issue rules and regulations as may be necessary therefor.
SECTION 4. All Acts, laws, executive orders, proclamations, rules and regulations and parts thereof, which are inconsistent with the provisions of this Act are hereby repealed or modified.
SECTION 5. This Act shall take effect upon its approval.
Approved: June 18, 1966
Published in the Official Gazette, Vol. 64, No. 48, p. 12296 on November 25, 1968
Cite This Law
Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration, Republic Act No. 4693, Jun 18, 1966 (Philippines)
Creation of Revolving Special Trust Fund Under the Agricultural Credit Administration, Republic Act No. 4693 (Phil. 1966)
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- Appropriation of Funds from Central Bank Net Profits to the Revolving Rural Banks Trust FundRepublic Act No. 2702 • Jun 18, 1960 • Statutes
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- Establishment of an Agricultural Credit and Cooperative Financing SystemRepublic Act No. 821 • Aug 14, 1952 • Statutes
- Payment of Government Subscription to Agricultural Credit and Cooperative Financing AdministrationRepublic Act No. 990 • Jun 3, 1954 • Statutes
- Amendments to R.A. No. 821 Re: Agricultural Credit and Cooperative Financing AdministrationRepublic Act No. 1285 • Jun 15, 1955 • Statutes
- Creation of an Agrarian Reform Special Account in the General FundRepublic Act No. 6390 • Sep 10, 1971 • Statutes
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