MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1828
AMENDING FURTHER REPUBLIC ACT NO. 337, AS AMENDED, OTHERWISE KNOWN AS THE "GENERAL BANKING ACT"
WHEREAS, it is recognized that business stability in the financial system is vital to the economic growth and development of the country;
WHEREAS, recent developments in the banking and financial industry indicated a need to install further stability in the financial system;
WHEREAS, such stability can be achieved by strengthening and giving more flexibility to the supervisory and regulatory authority of the Central Bank over the financial system.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the further amendment of Republic Act No. 337, as amended, as follows:
Section 1. Section 4 of Republic Act No. 337, as amended, is hereby amended to read as follows:
"Sec. 4. The determination of whether a person or an entity is (a) performing banking or...
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Amending Further Republic Act No. 337, As Amended, Otherwise Known As The "General Banking Act"
Presidential Decree No. 1828
