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Republic Act
Approved June 20, 1963

Republic Act No. 3526

An act authorizing the reversion of unliquidated balances of accounts payable outstanding for two years or more

An Act Authorizing the Reversion of Unliquidated Balances of Accounts Payable Outstanding for Two Years or More

In plain language

Authorizes the Auditor General to revert unliquidated balances of accounts payable outstanding for two years or more to the General Fund, with appropriation for settlement, while ensuring it does not revive barred claims.

  • Authorizes the Auditor General to revert unliquidated balances of accounts payable outstanding for two years or more
  • Appropriates necessary funds to settle obligations arising from such reversions
  • Excludes trust funds and balances covered by perfected contracts
  • Does not revive claims barred by prescription or final administrative/judicial determinations
Finance
Accounts Payable
Government Finance

REPUBLIC ACT No. 3526

An Act Authorizing the Reversion of Unliquidated Balances of Accounts Payable Outstanding for Two Years or More

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 Auditor General, upon notice to the Head of the Office or agency concerned, may revert to the unappropriated surplus of the General fund of the National Government, any unliquidated balances of accounts payable in the books of the National Government which have been outstanding for two years or more and against which no actual claims, administrative or judicial, have been filed or which are not covered by perfected contracts on record: Provided, That the provisions of this section shall not apply to unliquidated balances of accounts payable in trust funds as long as the purposes for which such funds have been created have not been accomplished.

Section 2

There is hereby appropriated out of any funds in the National Treasury not otherwise appropriated such sums as may be necessary to settle legitimate obligations which may not have been paid by reason of the reversion provided in Section 1 hereof: Provided, That this shall not be construed as an authority to revive claims already barred by prescription or disallowed by a final administrative or judicial determination.

Section 3

This Act shall take effect upon its approval.

Approved: June 20, 1963.

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.