AN ACT CREATING THE PHILIPPINE NATIONAL RAILWAYS
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AN ACT CREATING THE PHILIPPINE NATIONAL RAILWAYS
Republic Act No. 4156
June 20, 1964
Case Overview and Summary
Summary of Republic Act No. 4156Creation and Purpose of the Philippine National Railways
- Creates the Philippine National Railways as a government corporation to provide a nationwide railroad and transportation system. (Section 1)
- Purposes and powers include:
- Acquire assets and succeed franchises of the Manila Railroad Company. (Section 2a)
- Own and operate railroads, tramways, vessels, pipelines for transporting passengers, mail, and property. (Section 2b)
- Own and operate power houses, hotels, restaurants, terminals, warehouses, mines, and manufacture rolling stock. (Section 2c)
Capitalization and Funding
- Authorized capital stock is 250 million pesos divided into 1.25 million shares of 200 pesos each. (Section 3)
- Government to fully subscribe the increase in authorized capital. (Section 3)
- Existing obligations of Manila Railroad Company to the government worth 92.6 million pesos to be converted into capital stock. (Section 3)
- Funds allocated under other laws for new railroad lines and rehabilitation to be received. (Section 3)
- Additional 120 million pesos to be set aside for purchase of equipment for new lines. (Section 3)
Governance and Management
- Board of Directors with 5-11 members appointed by the President, including a Chairman and Vice-Chairman. (Section 5)
- Board has powers to prescribe by-laws, appoint and fix compensation of General Manager and other officers. (Section 6)
- General Manager is the managing head, with powers to manage affairs, submit reports, appoint personnel. (Sections 9-10)
- Merit-based appointment and promotion of officers and employees under Civil Service Law. (Section 11)
Tax Exemptions and Auditing
- Exemption from all taxes, duties, and port charges on capital stock, franchises, earnings, imported materials, and vessels carrying materials. (Section 12)
- Auditor appointed by Auditor General to audit financial transactions and submit annual report. (Section 13)
Legal Counsel and Regulatory Exemptions
- Allowed to have its own legal department appointed by the Board. (Section 14)
- Exempted from authority and supervision of the Public Service Commission. (Section 15)
Liquidation and Dissolution
- Corporation to continue for 3 years after expiration for winding up affairs and liquidation by a Board of Liquidators. (Section 16)
- Funds from liquidation to revert to general government funds. (Section 18)
- Manila Railroad Company abolished and dissolved, with rights, personnel, assets, and liabilities transferred to Philippine National Railways. (Section 22)
Other Provisions
- Prohibition on strikes by employees during national emergencies. (Section 17)
- Applicability of Corporation Law provisions not inconsistent with this Act. (Section 19)
- Repeal or modification of inconsistent laws, orders, and proclamations. (Section 20)
- Separability clause for unconstitutional provisions. (Section 21)
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AN ACT CREATING THE PHILIPPINE NATIONAL RAILWAYS
Republic Act No. 4156
•June 20, 1964
REPUBLIC ACT No. 4156
AN ACT CREATING THE PHILIPPINE NATIONAL RAILWAYS, PRESCRIBING ITS POWERS, FUNCTIONS AND DUTIES, AND PROVIDING FOR THE NECESSARY FUNDS FOR ITS OPERATION.
Section 1. Name, Duration and Domicile. A corporation to serve as the instrumentality of the Government of the Philippines in providing a nation-wide railroad and transportation system, is hereby created, to be known as the Philippine National Railways, which shall exist for a term of fifty years from the date of approval of this Act. It shall have its main office in the City of Manila, and shall have such branches and agencies within or outside the Philippines as may be necessary for the proper conduct of its business. The Corporation shall be under the Office of Economics Coordination.
Section 2. Purposes and specific powers. The Philippine National Railways shall have the following purposes and specific powers:
(a) To acquire and hold the assets of the Manila Railroad Company of the Philippine Islands, and to succeed to, or acquire, maintain and operate such grants, concessions and franchises as are...
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