An act to amend republic act numbered thirteen hundred forty-five, entitled "an act creating the national marketing corporation and dissolving the price stabilization corporation, appropriating funds therefor, and for other purposes," as amended by republic act numbered sixteen hundred and one
An Act to Amend Republic Act Numbered Thirteen Hundred Forty-Five, Entitled "An Act Creating the National Marketing Corporation and Dissolving the Price Stabilization Corporation, Appropriating Funds Therefor, and for Other Purposes," as Amended by Republic Act Numbered Sixteen Hundred and One
This Republic Act amends RA 1345 to clarify procurement, funding, foreign exchange allocation, and penalties related to the National Marketing Corporation (NAMARCO). It modifies procurement procedures, revises the capitalization and revolving fund provisions, authorizes the Board of Directors to appropriate up to two million pesos annually for operating expenses, mandates a yearly foreign exchange allocation of at least $20 million from the Central Bank, and establishes severe penalties for distributors and retailers who violate price controls or engage in illicit activities.
Procurement and marking of NAMARCO goods
Revision of capitalization and revolving fund provisions
Board authorization to appropriate up to two million pesos annually
Central Bank’s yearly foreign exchange allocation of at least $20 million
Strict penalties for distributors/retailers violating price controls
Amendment
National Marketing Corporation
Procurement
Foreign Exchange
Penalties
REPUBLIC ACT No. 1803
An Act to Amend Certain Item of Republic Act Numbered One Thousand Four Hundred Eleven, Regarding Public Works Project for the Province of Masbate
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Item sixty-four of paragraph ac
Masbate, page four hundred ninety-eight of Republic Act Numbered One thousand four hundred eleven, is amended to read as follows:
| 64. Malibas Barrio School Building, Palanas Construction of one-room building | ₱4,000.00" |
Section 2
This Act shall take effect upon its approval.
Approved: June 22, 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.