REPUBLIC ACT NO. 5188 - AN ACT
AMENDING REPUBLIC ACT NUMBERED FOUR THOUSAND SEVEN HUNDRED AND FOR
OTHER PURPOSES (RE: NATIONAL SECURITY PRINTING PLANT)
Section 1. Section s 1, 2, 3, 4 and 5 of Republic Act Numbered
four thousand seven hundred are hereby amended to read as
follows:
"Section 1. To safeguard the printing of government
official receipts, postage stamps, internal revenue stamps, strip
stamps, stocks and bonds, bank notes, and other security printing jobs,
the National Treasurer shall acquire, within ninety days and operate as
soon as possible but not later than three years after approval of this
Act, a complete security printing plant equipped with the most modern
security printing presses which are not available to ordinary
commercial printers, specifically those that allow for the simultaneous
printing of front and back faces, of super-imposed tints and
backgrounds, and the single or multi-color intaglio printing of
major designs."
"Sec. 2. All government offices, agencies,
instrumentalities and government-owned and/or controlled corporations
required or allowed by laws, rules and regulations to print and/or
issue any of the security papers enumerated in Section one hereof
shall, upon approval of this Act, forward a projection of their
printing requirements, thru the General Auditing Office, to the
National Treasurer which shall print as soon as possible, with security
printing presses, such requisitions as are approved by the Auditor
General, and at costs, allowing only for a minimal margin to cover
administration and operational expenses."
"Sec. 3. When not in use, all original designs,
engravings and other printing materials involving the security of the
printing shall be kept in a secured vault under the joint custody of a
committee composed of the Auditor General as chairman, and the Governor
of the Central Bank and the National Treasurer as members, and no
design, engraving or other printing material shall be removed therefrom
except in the presence of the head of the requisitioning office
requiring the same. In the event of the temporary absence or inability
of any member of the committee, his duties shall devolve upon the
Deputy Auditor General, Assistant National Treasurer, or Deputy
Governor of the Central Bank, as the case may be. The committee is
hereby authorized to issue rules and regulations governing the custody
and removal of materials from the vault: Provided, That in cases of
front and back engravings one of these shall be under the custody of
the head of the requisitioning office, in such manner that no security
printing may be executed by the National Treasurer without the
knowledge and approval of such official".
"Sec. 4. To carry out the purposes of this Act, such
sums as may be necessary, but in no case to exceed thirty million pesos
(P30M) are hereby appropriated, out of any funds in the National
Treasury not otherwise appropriated, for the purchase of a complete
brand new printing equipment of long proven excellence which provide
maximum security features and are most widely used by the leading
Central Banks and/or government security printing agencies of the
world, for the construction of a building, acquisition of a vault,
other security measures, office equipment, air-conditioning, salaries
and wages, and for setting up a revolving fund of not more than two
million pesos for the purchase of special printing paper and other
printing supplies and materials: Provided, That the printing equipment
shall first be purchased before entering into any contract for the
construction of the building or the acquisition of the vault and other
accessories mentioned above: Provided, further, That the purchase of
all the equipment, the construction of the buildings, and the
acquisition of all other accessories mentioned herein shall be made
through public bidding, under existing laws, rules and regulations
governing the same, by a committee composed of the Secretary of
Finance, as chairman, and the National Treasurer and the Governor of
the Central Bank, as members; and a report of the results of each
bidding shall be made to the Congress of the Philippines within thirty
days after the award to the successful bidders: Provided, finally, That
if the finances of the government do not permit the utilization of the
funds in the treasury, the National Treasurer with the approval of the
President, is hereby authorized to borrow funds from any local or
foreign institution in an amount not exceeding thirty million pesos for
the purposes provided for herein. From the time said printing plant is
fully operational, such sums as may be necessary for the yearly
operations of the same shall be provided for in the annual
appropriations Act. The National Treasurer shall make an annual report
of all loans and/or expenditures authorized under this Act to the
Congress of the Philippines not later than the 31st day of January of
each calendar year.
"All loans obtained under this Act shall be fully guaranteed by the
Republic of the Philippines both as to principal and interest. In the
event that the income from the operation of the printing plant shall
not be sufficient to pay said principal and interest and the sum
appropriated herein is not yet available for such payment, the Central
Bank shall advance the amounts thereof out of its surplus funds, not
otherwise appropriated. Thereupon the amounts so advanced shall be
reimbursed by the National Treasurer from whatever payments he shall
received for security printing jobs undertaken and from the fund
appropriated herein, and such reimbursements shall automatically accrue
to the surplus funds of the Central Bank."
"Sec. 5. Subject to the approval of the President,
the National Treasurer shall issue such rules and regulations as may be
necessary to carry out the implementation of this Act. Rules and
regulations which effect other government offices and the general
public, shall take effect thirty days after publication in the official
gazette".
Sec. 2. This Act shall take effect upon its
approval.
Approved: September 16, 1967
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