ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 1853 - AN ACT
FURTHER AMEND REPUBLIC ACT NUMBERED THREE HUNDRED AND FOUR BY
AUTHORIZING WAR VETERANS TO USE THEIR BACK PAY CERTIFICATES FOR THE
PURCHASE OR LEASE OF LANDS FROM THE NATIONAL, PROVINCIAL, CITY OR
MUNICIPAL GOVERNMENTS |
Section 1.
Section two of Republic Act Numbered Three hundred four, as amended, is
further amended to read as follows: "Sec. 2. The
Treasurer of the Philippines shall, upon application of all person
specified in section one hereof and within one year from the approval
of this amendatory Act, and under such rules and regulations as may be
promulgated by the Secretary of Finance, acknowledge and file requests
for the recognition of the right to the salaries or wages as provided
in section one hereof, and notice of such acknowledgment shall be
issued to the applicant which shall state the total amount of such
salaries or wages due the applicant, and certify that it shall be
redeemed by the Government of the Philippines within ten years from the
date of their issuance without interest: Provided, That upon
application and subject to such rules and regulations as may be
approved by the Secretary of Finance a certificate of indebtedness may
be issued by the Treasurer of the Philippines covering the whole or a
part of the total salaries or wages the right to which has been duly
acknowledged and recognized, provided that the face value of such
certificate of indebtedness shall not exceed the amount that the
applicant may need for the payment of (1) obligations subsisting at the
time of the approval of this amendatory Act for which the applicant may
directly be liable to the Government or to any of its branches or
instrumentalities, or the corporations owned or controlled by the
Government, the provisions of their charters, articles of
incorporation, by-laws or rules and regulations to the contrary
notwithstanding, or to any citizen of the Philippines, or to any
association or corporation organized under the laws of the Philippines,
who may be willing to accept the same for such settlement; (2) his
taxes; (3) government hospital bills of the applicant; (4) lands
purchased or leased or to be purchased or leased by him from the
national, provincial, city of municipal governments; (5) for the
repurchase of properties which have been sold at public auction and
sold in favor of the Government; and (6) any amount received by the
applicant as gratuity or pension which he has to refund to the
Government or to any of its branches or instrumentalities: Provided,
further, That such settlement shall be effected by indorsement on the
instrument: Provided, furthermore, That no certificate shall be
transferred or ceded by indorsement more than once, nor at a discount
rate exceeding two per centum per annum: And provided, also, That any
person who is not an alien, bank or other financial institution at
least sixty per centum of whose capital is owned by Filipinos may,
notwithstanding any provision of its charter, articles of
incorporation, by-laws, or rules and regulations to the contrary,
accept or discount at not more than three and one-half per centum
per annum for ten years a negotiable certificate of indebtedness which
shall be issued by the Treasurer of the Philippines upon application by
a holder of back pay acknowledgment: Provided, furthermore, That in the
case of members of the Philippine Army and of recognized guerrilla
forces and the Philippine Scouts herein mentioned who may apply for
recognition of their back pay salaries, wages, per diems, and/or
allowances under the provisions of this amendatory Act, such back pay
acknowledgment shall certify that it shall be redeemed by the
Government of the Philippines within thirty years from the date of its
issuance without interest depending upon the availability of funds
which shall be determined by the Treasurer of the Philippines:
Provided, finally, That if certificates of indebtedness have been
issued to an officer or employee, his back pay at the end of ten years
from the date of the approval of this Act, or in the case of members of
the Philippine Army and of recognized guerrilla forces and the
Philippine Scouts herein mentioned thirty years from the date of the
approval of this amendatory Act, shall be equal to the amount due him
under the provisions of this Act minus the full and total face value of
the certificates of indebtedness issued to him in the interim. Failure
to file the application within the time herein provided for will
forfeit whatever right there may be to any back salary or wage which
otherwise should have been due the applicant." Sec. 2. This Act shall take effect upon its approval. Approved: June 22, 1957 |