Republic Act No. 5755: An act amending sections three and four of republic act numbered forty-six hundred ninety-four, entitled "an act authorizing the president of the republic of the philippines to sell portions of the private doma*in of the national government to the visayas-mindanao confederation of trade unions.",

Republic Act No. 5755

An act amending sections three and four of republic act numbered forty-six hundred ninety-four, entitled "an act authorizing the president of the republic of the philippines to sell portions of the private doma*in of the national government to the visayas-mindanao confederation of trade unions.",

AN ACT AMENDING SECTIONS THREE AND FOUR OF REPUBLIC ACT NUMBERED FORTY-SIX HUNDRED NINETY-FOUR, ENTITLED "AN ACT AUTHORIZING THE PRESIDENT OF THE REPUBLIC OF THE PHILIPPINES TO SELL PORTIONS OF THE PRIVATE DOMA*IN OF THE NATIONAL GOVERNMENT TO THE VISAYAS-MINDANAO CONFEDERATION OF TRADE UNIONS.",

In plain language

This act amends Sections 3 and 4 of Republic Act No. 4694 to regulate the transfer, leasing, and reversion of land owned by the Visayas-Mindanao Confederation of Trade Unions, ensuring that proceeds from any lease or sale are used for the organization’s purpose and that the land reverts to the National Government upon dissolution.

Land cannot be transferred or mortgaged without presidential authorization.

Land may be leased to third parties.

Proceeds from leasing, mortgage, or encumbrance must be used for the organization’s purpose and to repay obligations for improvements.

If the Confederation is dissolved, the land automatically reverts to the National Government.

Improvements may be sold at public auction, with proceeds used to liquidate obligations.

The purchaser of improvements may lease the land from the Government at a reasonable price.

Amendment

Land Management

Trade Unions

Visayas-Mindanao Confederation

Public Lands

[ REPUBLIC ACT NO. 5755, June 21, 1969 ] AN ACT AMENDING SECTIONS THREE AND FOUR OF REPUBLIC ACT NUMBERED FORTY-SIX HUNDRED NINETY-FOUR, ENTITLED "AN ACT AUTHORIZING THE PRESIDENT OF THE REPUBLIC OF THE PHILIPPINES TO SELL PORTIONS OF THE PRIVATE DOMA*IN OF THE NATIONAL GOVERNMENT TO THE VISAYAS-MINDANAO CONFEDERATION OF TRADE UNIONS." Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled: Section 1. Sections three and four of Republic Act Numbered Forty-six hundred ninety-four are hereby amended to read as follows: > "Section 3. The title of the land conveyed by this Act shall not be transferred or mortgaged by the Visayas-Mindanao Confederation of Trade Unions to another person or legal entity without previous authorization by the President of the Republic of the Philippines:*Provided,*That the said land and/or any improvements thereon may be leased to a third party:*Provided further*, That the proceeds from such lease, mortgage or encumbrance shall be used for the purpose for which the said organization has been established, including the repayment of any obligations incurred for the construction of said improvements. > > "Section 4. In case the Visayas-Mindanao Confederation of Trade Unions is dissolved, or ceases to exist, or for any reason no longerneeds theland,thesaidland shall automatically revert to the National Government:*Provided,* That the improvements thereon may be sold at public auction and the proceeds thereof shall be used to liquidate the obligations incurred by the Visayas-Mindanao Confederation of Trade Unions or any of its subsidiary which financed the construction of the said improvements:*Provided, further,*That the purchaser of the improvements shall be allowed to lease the said land from the Government at a reasonable price." Section 2. This Act shall take effect upon its approval. Approved, June 21, 1969.

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.