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Republic Act
Approved June 17, 1948More laws from 1948 →

Republic Act No. 302

An act to appropriate the sum of three million pesos as additional capital for the national tobacco corporation

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In plain language

This act appropriates three million pesos from the National Treasury as additional capital for the National Tobacco Corporation. It mandates that no more than twenty percent of this amount be spent on salaries and wages.

REPUBLIC ACT No. 302

An Act to Appropriate the Sum of Three Million Pesos as Additional Capital for the National Tobacco Corporation

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

Section 1

There is hereby appropriated out of any funds in the National Treasury, the sum of three million pesos, as additional capital for the National Tobacco Corporation: Provided, That not more than twenty per centum shall be spent for salaries and wages.

Section 2

This Act shall take effect upon its approval.

Approved: June 17, 1948.

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.