Act
Approved June 20, 1953

Republic Act No. 907

An act amending republic act numbered two hundred seventy-five fixing the salaries of the insurance commissioner and the assistant insurance commissioner

AN ACT AMENDING REPUBLIC ACT NUMBERED TWO HUNDRED SEVENTY-FIVE FIXING THE SALARIES OF THE INSURANCE COMMISSIONER AND THE ASSISTANT INSURANCE COMMISSIONER

In plain language

Amends Republic Act No. 275 to rename the Bureau of Banking as the Office of the Insurance Commissioner and the Bank Commissioner, and to set the annual salaries of the Insurance Commissioner at ten thousand pesos and the Assistant Insurance Commissioner at seven thousand two hundred pesos.

  • Renaming of Bureau of Banking to Office of the Insurance Commissioner and Bank Commissioner
  • Establishing annual salary of ten thousand pesos for the Insurance Commissioner
  • Establishing annual salary of seven thousand two hundred pesos for the Assistant Insurance Commissioner
  • Effectivity upon approval
Insurance
Salaries
Regulation
Act
Amendment

[ REPUBLIC ACT NO. 907, June 20, 1953 ]

AN ACT TO AMEND SECTION ONE OF ACT NUMBERED FIVE HUNDRED AND FIFTY-NINE, ENTITLED "AN ACT PROVIDING FOR THE SALE OF LOTS COMPRISED IN THE TONDO FORESHORE LAND TO LESSEES OF SAID LOTS OR TO BONA FIDE OCCUPANTS THEREOF."

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

Section one of Act Numbered Five hundred and fifty-nine, is hereby amended so as to read as follows:

> "Section 1. Notwithstanding the provisions of 'The Public Land Act,' as amended, and proclamation Numbered One hundred eighty-seven of the President of the Philippines dated June seventeen, nineteen hundred and fifty, the Director of Lands, under the direction of the Secretary of Agriculture and Natural Resources, is hereby authorized and directed to sell without delay and without the necessity of public bidding all the lots and/or parcels of land in the district of Tondo, City of Manila, known as the 'Tondo Foreshore Land' which extends from the Manila Abattoir to the site of the Philippine Manufacturing Company which includes the community known as 'The Barrio Fugoso to the lessees of said lots or to thebona fideoccupants thereof at the time of the approval of this Act if duly qualified to acquire public land, or, in the case of vacant lots, to persons who are not disqualified to acquire public lands:*Provided,* That such lessees, occupants or persons do not own any residential lot in the cities of Manila, Quezon and Pasay or their suburbs. > > "No person shall be entitled to purchase more than one lot, and any person who purchases a lot in behalf of another who is not disqualified as hereinabove provided to acquire a lot in the 'Tondo Foreshore Land' shall lose his rights and interests in the land and forfeit all amounts paid on account of said land. > > "The selling price of each lot shall be fixed by a committee composed of the City Assessor, a representative of the Bureau of Lands, and a representative of the 'Tondo Foreshore Land Tenants Association,' but in no case shall such selling price be less than five pesos nor more than ten pesos per square meter."

Section 2

This Act shall take effect upon its approval.

Approved, June 20, 1953.

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.