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collection of Philippine laws, statutes and codes
not
included or cited in the
main indices
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the Chan Robles Virtual Law Library.
This web
page
contains the full text of
Republic
Act No. 7899
AN ACT AMENDING SECTION FOUR AND
SECTION
SIXTEEN OF REPUBLIC ACT NUMBERED
FOUR THOUSAND SEVEN HUNDRED
TWENTY-SIX, OTHERWISE KNOWN AS
"THE CONDOMINIUM ACT"
REPUBLIC
ACT
NO. 7899
AN ACT
AMENDING SECTION
FOUR AND SECTION SIXTEEN OF REPUBLIC
ACT NUMBERED FOUR THOUSAND SEVEN HUNDRED
TWENTY-SIX, OTHERWISE KNOWN AS "THE
CONDOMINIUM ACT."
Be it enacted by the Senate and
the House of Representatives of the
Philippines
in Congress assembled:
Section 1. Sec. 4, last
paragraph of Republic Act No.
4726 is hereby amended as follows;
"Sec. 4.
xxx
"The enabling or
master deed may be amended or revoked
upon registration of an instrument executed by a simple
majority of the registered owners of the property: Provided,
That in a condominium project exclusively for either residential
or commercial use, simple majority shall be on per unit of
ownership basis and that in the case of mixed use, simple
majority shall be on floor area of ownership basis: Provided
further, That prior notifications to all registered owners are
done, and Provided, finally, That any amendment or revocation already
decided
by a simple majority of all registered
owners shall be submitted to the Housing and Land Use Regulatory Board
and the city/municipal engineer for approval before
it can be
registered.
Until
registration of a revocation, the
provision of this Act shall continue to apply to such property."
Sec. 2. Sec. 16 of the same Act
is hereby amended
to read as follows:
"Sec. 16.
A condominium corporation shall not, during its
existence, sell, exchange,lease or otherwise dispose of the
common areas owned or held by it in the condominium project
unless authorized by the affirmative vote of a simple majority
of the registered owners: Provided, That prior notifications to
all registered owners are done: and, Provided, further, That the
condominium
corporation may expand or integrate the project
with another upon the affirmative vote of a simple majority of the
registered
owners, subject only to the final approval of the
Housing and Land Use Regulatory Board."
Sec. 3. Effectivity. -
This Act shall take effect fifteen
(15) days after its complete publication in at least two (2)
national newspapers of general circulation.
Approved:
(SGD.) EDGARDO J. ANGARA
President of the Senate
(SGD.) JOSE DE VENECIA, JR.
Speaker of the House of Representatives
This Act which is a
consolidation of House Bill No. 12384
and Senate Bill No. 2042 was finally passed by the House of
Representatives and the Senate on February 15, 1995.
(SGD.) EDGARDO E. TUMANGAN
Secretary of the Senate
(SGD.) CAMILO L. SABIO
Secretary General
House of Representatives
Approved: February 23, 1995
(SGD.) FIDEL V. RAMOS
President of the Philippines
.
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