,

ChanRobles Virtual Law Library






CHANROBLES VIRTUAL LAW LIBRARY






On-Line Bar Review

cralaw_chanroblesbar

MCLE:

cralaw_lawnet

DebtKollect

cralaw_debkollect

Intellectual Property

cralaw_iplaw
Chan Robles Virtual Law Library


Bookmark and Share




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. 1796
AMENDING FURTHER REPUBLIC ACT NO. 3779, AS AMENDED, OTHERWISE KNOWN AS THE "SAVINGS AND LOAN ASSOCIATION ACT"
. chan robles virtual law library


PRESIDENTIAL DECREE NO. 1796
 
 
AMENDING FURTHER REPUBLIC ACT NO. 3779, AS AMENDED, OTHERWISE KNOWN AS THE "SAVINGS AND LOAN ASSOCIATION ACT"
. chan robles virtual law library
. chan robles virtual law library
WHEREAS, there is a need to amend Section 5 of Republic Act No. 3779, as amended, to reflect the original intention of said law;
. chanrobles virtual law library

WHEREAS, there is a need to strengthen the supervisory authority of the Central Bank over savings and loan associations;

WHEREAS, the Central Bank should have the flexibility in its authority to issue rules governing said associations.  . 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 as follows:  . chanrobles virtual law library

Section 1. Section 5 of Republic Act No. 3779, as amended, is hereby amended by changing the word "encumbered" in item (a) of the third paragraph of the aforementioned Section to "unencumbered".

Sec.  2. Subsection (g) of Section 28 of the same Act is hereby amended to read as follows:chanroblesvirtuallawlibrary

"(g) To fix by rules or by order, in specific cases, the limits of loanable funds, amounts for investment and for discounting, and reserves for withdrawals and other contingencies; . chanrobles virtual law library

Sec.  3. Subsection (i) of Section 28 of the same Act is hereby amended to read as follows:  . chanrobles virtual law library

"(i) To conduct such investigations, take such remedial measures, and exercise all powers which are now or may hereafter be conferred upon it by Republic Act Numbered Two hundred sixty-five in the enforcement of this legislation, and impose upon associations, whether stock or non-stock, their directors and/or officers administrative sanctions under Sections 34-A or 34-B of Republic Act Numbered Two hundred sixty-five as amended;

Sec. 4. All laws, decrees, rules and regulations inconsistent with this Decree are hereby repealed or modified accordingly. 
. chanrobles virtual law library

Sec.  5. This Decree shall take effect immediately. . chanrobles virtual law library

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


Back to Top   -  Back to Main Index    -  Back to Home

Since 19.07.98