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Republic Act
Approved August 23, 1956

Republic Act No. 1615

An act authorizing philippine membership in the proposed international finance corporation and authorizing the appropriation of funds therefor.

AN ACT AUTHORIZING PHILIPPINE MEMBERSHIP IN THE PROPOSED INTERNATIONAL FINANCE CORPORATION AND AUTHORIZING THE APPROPRIATION OF FUNDS THEREFOR.

In plain language

The act authorizes Philippine membership in the proposed International Finance Corporation and appropriates funds for the government’s subscription to its capital stock.

  • Authorization of signature for the Article of Agreement
  • Appropriation of 332,000 pesos for subscription
  • Effective date upon approval
International Finance Corporation
Appropriation
Philippine Membership

REPUBLIC ACT No. 1615

An Act Appropriating the Sum of Fifteen Million Pesos to Defray the Expenses of the National Government in Connection With, and Incidental to, the Holding of the National Elections to be Held on the Second Tuesday of November, Nineteen Hundred and Fifty-Seven

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Out of any fund in the National Treasury not otherwise appropriated there is hereby appropriated the sum of fifteen million pesos for the payment, subject to the approval of the Commission on Elections, of the expenses which may be incurred in connection with, and incidental to, the holding of the national elections on the second Tuesday of November, nineteen hundred and fifty-seven, including the payment of additional allowances for election inspectors at the rate of five pesos for every day of actual attendance to their duties: Provided, That this appropriation shall be available for expenditure upon approval of this Act and shall continue to be available after June thirty, nineteen hundred fifty-eight, exclusively for this purpose: And Provided, further, That the unexpended balance may be used to pay prior years elections obligations.

Section 2

This Act shall take effect upon its approval.

Approved: May 20, 1957.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.