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" PRESIDENTIAL DECREE NO. 1796 . 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
Sec.
3. Subsection (i) of Section
28 of the same Act is hereby amended to read as follows:
.
chanrobles virtual law library
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regulations inconsistent with this Decree are hereby repealed or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 |
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