A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library This page features the full text of Presidential Decree No. 1793 AMENDING SECTION 5 OF REPUBLIC ACT NO. 5980, AS AMENDED, OTHERWISE KNOWN AS THE "FINANCING COMPANY ACT" PRESIDENTIAL DECREE NO. 1793 . chan robles virtual law library
WHEREAS,
the Central Bank of the Philippines has been vested with the power to
prescribe
in consultation with the Securities and Exchange Commission, or change
the purchase discount rates, fees and other charges of finance
companies;
.
chanrobles virtual law library
. chanrobles virtual law library
WHEREAS,
there is a need to vest upon the Central Bank of the Philippines the
express
authority to adopt a more flexible policy on such purchase discount
rates,
fees and other changes of finance companies that would be more
responsive
to the requirements of changing economic and social conditions.
.
chanrobles virtual law library
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the amendment of Republic Act No. 5980, as follows: . chanrobles virtual law library Section 1. The first paragraph of Section 5 of Republic Act No. 5980 is hereby amended to read as follows:chanroblesvirtuallawlibrary
Sec.
2. The provisions of laws, decrees,
orders, rules and regulations or parts thereof, which are inconsistent
with the provisions of this Decree are hereby repealed or modified
accordingly.
.
chanrobles virtual law library
.
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Sec.
3. This Decree shall take effect
immediately.
.
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Done in the City of Manila this 16th day of January in the year of Our Lord nineteen hundred and eighty-one. . chanrobles virtual law library
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