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Republic Act
Approved March 25, 2007

Republic Act No. 9415

An act amending sections 2 and 3 of republic act no. 2239, and for other purposes

AN ACT AMENDING SECTIONS 2 AND 3 OF REPUBLIC ACT NO. 2239, AND FOR OTHER PURPOSES

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In plain language

An amendment to Republic Act No. 2239 that modifies Sections 2 and 3 to permit the Ramon Magsaysay Award Foundation to construct a building, allow condominium development, and establish pre‑emptive rights and use of proceeds from leases or sales, while repealing inconsistent provisions.

  • Amendment to Section 2 allowing construction of a permanent building and condominium development up to 2,000 sq.m.
  • Amendment to Section 3 permitting leasing or sale of property with pre‑emptive repurchase rights.
  • Stipulation that proceeds from leases or sales are used for the Foundation’s purposes.
  • Repeal of inconsistent provisions in RA 2239.
  • Effective date 15 days after publication.
Amendment
Ramon Magsaysay Award Foundation
Condominium
Real Estate
Philippines

Thirteenth Congress Third Regular Session

Begun and held in Metro Manila, on Monday, the twenty-fourth day of July, two thousand six.

REPUBLIC ACT No. 9415 March 25, 2007

AN ACT AMENDING SECTIONS 2 AND 3 OF REPUBLIC ACT NO. 2239, AND FOR OTHER PURPOSES

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

Section 1

Section 2, of Republic Act. No. 2239 is hereby amended to read as follows:

SEC. 2. This conveyance is made for the purpose of enabling the Foundation to allow the construction on said land a permanent Ramon Magsaysay Award Foundation Building. In a portion of the land not exceeding two thousand square meters (2,000 sq.m) , a condominium building may be constructed within reasonable limits as provided herein".

Section 2

Section 3 of Republic Act No. 2239 is hereby amended to read as follows:

SEC. 3. The property or any space in the building to be constructed therein may be leased or sold in accordance with the provisions of the Condominium Law: Provided, That any deed of conveyance executed by the Foundation shall include its pre-emptive right to repurchase the property from the vendee: and Provided, further, That the proceeds for such lease or sale shall be utilized for purposes for which the Foundation has been established including, but not limited to, the preservation of values of integrity, respect for human dignity and principled leadership characterized by the late President Ramon Magsaysay, and the propagation of the ideas and programs of the Magsaysay Awardees in service to the peoples of Asia.

Section 3. The other pertinent provisions of Republic Act No

2239, and other laws, rules and regulations which are inconsistent with this amendatory law are hereby repealed or amended accordingly.

Section 4

This law shall take effect fifteen (15) days following its complete publication in the Official Gazette or two newspapers of general circulation, whichever comes earlier.

Approved,

JOSE DE VENECIA, JR.

Speaker of the House of Representatives

MANNY VILLAR

President of the Senate

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.