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Amendment
Approved June 20, 1959More laws from 1959 →

Republic Act No. 2361

An act reverting to the general funds of the national government the cash balances of certain special or revolving funds under certain conditions

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In plain language

This act transfers unused cash balances from special or revolving funds to the national government general funds if the fund purpose is fulfilled, abandoned, or the money is no longer needed.

REPUBLIC ACT No. 2361

An Act Reverting to the General Funds of the National Government the Cash Balances of Certain Special or Revolving Funds Under Certain Conditions

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

Section 1

Any provision of law to the contrary notwithstanding, the whole or any such portion of any outstanding cash balance of any special or revolving fund upon certification by the head of the office administering the said fund and attestation by the Auditor General to the effect that the purpose or purposes for which the said fund was created had been fulfilled or abandoned or that the said amount of cash balance or any portion thereof is no longer needed without adversely affecting the purpose or purposes for which the said funds was created had been fulfilled, is hereby transferred to the general funds of the national government.

Section 2

This Act shall take effect upon its approval.

Approved: June 20, 1959.

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.