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Republic Act
Approved June 22, 1957More laws from 1957 →

Republic Act No. 2012

An act increasing the authorized capital stock of the manila railroad company of the philippine islands to one hundred fifty million pesos

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In plain language

This act increases the authorized capital stock of the Manila Railroad Company to 150 million pesos to fund line rehabilitation, equipment, a Mindanao railway project, and an extension of the Panay Railway.

REPUBLIC ACT No. 2012

An Act Increasing the Authorized Capital Stock of the Manila Railroad Company of the Philippine Islands to One Hundred Fifty Million Pesos

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

Section 1

To enable it to fully rehabilitate its lines and equipment, to extend its road and to attain the purposes and objectives for which it was created, the authorized capital stock of the Manila Railroad Company of the Philippine Islands is hereby increased from fifty million pesos to one hundred fifty million pesos: Provided, That forty million pesos shall be for the railway project in Mindanao and thirty million pesos for the extension of the Panay Railway from the Municipality of Cuartero, Capiz, to the Municipality of Pandan, Antique.

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.