A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Search for
www.chanrobles.com
Republic Acts :
REPUBLIC ACTS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
REPUBLIC
ACT NO. 3527
REPUBLIC ACT NO. 3527 - AN ACT
AMENDING Sec. SIX HUNDRED AND TWENTY-SIX OF THE REVISED ADMINISTRATIVE
CODE (BY PAYMENT OF STALE OR STOPPED CHECKS.)
Section 1. Section six hundred and twenty-six of the Revised
Administrative Code is hereby amended to read as follows:
"Sec. 626. Reports of depositories to the Auditor
General — Payment of stale or stopped checks. — Depositories shall
report to the Auditor General at the close of each quarter, or oftener
if he shall so require, and in such form as he may direct, the
condition of such Government account standing on their books. They
shall pay no check drawn against a Government account after two years
from date of issue or at any time after notification of stoppage of
payment by the Auditor or drawer thereof. A bureau or office shall have
the authority to take up in its books of accounts the amount of a stale
check as miscellaneous receipt of the fund out of which it was
previously charged: Provided, That upon presentation of a stale check
the issuing bureau or office shall cancel the same and issue to the
payee a substitute check in lieu thereof.
A standing annual appropriation is hereby made out of the general fund
in the National Treasury not otherwise appropriated in such sums as may
be necessary to meet the obligation arising out of the issuance of
substitute checks chargeable against the general fund: Provided, That
substitute checks payable from funds other than the general fund, shall
be paid from the respective funds concerned."
Sec. 2. The Auditor General shall issue accounting
instructions to implement the provisions of this Act.
Sec. 3. This Act shall take effect upon its approval.
Approved: June 20, 1963
|
chanrobles virtual law library
Back to Main
chanroblesvirtuallawlibrary