Increase in Authorized Capital Stock of Manila Railroad Company of Philippine Islands
Republic Act No. 2012, enacted on June 22, 1957, increases the authorized capital stock of the Manila Railroad Company from fifty million pesos to one hundred fifty million pesos. This increase aims to facilitate the rehabilitation of the company's lines and equipment, as well as to support the extension of its railway services. Specifically, forty million pesos is allocated for a railway project in Mindanao, while thirty million pesos is designated for extending the Panay Railway. The Act took effect upon its approval and was published in the Official Gazette on November 30, 1957.
Law Information
- Reference Number
- Republic Act No. 2012
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 22, 1957
REPUBLIC ACT NO. 2012
AN ACT INCREASING THE AUTHORIZED CAPITAL STOCK OF THE MANILA RAILROAD COMPANY OF THE PHILIPPINE ISLANDS TO ONE HUNDRED FIFTY MILLION PESOS
SECTION 1. To enable it to fully rehabilitate its lines and equipment, to extend its road and to attain the purposes and objectives for which it was created, the authorized capital stock of the Manila Railroad Company of the Philippine Islands is hereby increased from fifty million pesos to one hundred fifty million pesos: Provided, That forty million pesos shall be for the railway project in Mindanao and thirty million pesos for the extension of the Panay Railway from the Municipality of Cuartero, Capiz, to the Municipality of Pandan, Antique.
SECTION 2. This Act shall take effect upon its approval.
Approved: June 22, 1957
Published in the Official Gazette, Vol. 53, No. 22, p. 8042 on November 30, 1957
Cite This Law
Increase in Authorized Capital Stock of Manila Railroad Company of Philippine Islands, Republic Act No. 2012, Jun 22, 1957 (Philippines)
Increase in Authorized Capital Stock of Manila Railroad Company of Philippine Islands, Republic Act No. 2012 (Phil. 1957)
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