AN ACT EXTENDING THE LIFE OF THE LAND BANK OF THE PHILIPPINES
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AN ACT EXTENDING THE LIFE OF THE LAND BANK OF THE PHILIPPINES
Republic Act No. 10374
March 5, 2013
Case Overview and Summary
Summary of Republic Act No. 10374Extension of the Land Bank of the Philippines
- The legal existence of the Land Bank of the Philippines is extended for a period of fifty (50) years from the expiration of its original term on August 8, 2013, renewable for another fifty (50) years. (Section 1)
- The Land Bank of the Philippines shall continue to be subject to rules and regulations promulgated by the Central Bank. (Section 1)
Separability Clause
- If any provision of this Act is declared invalid or unconstitutional, the remaining provisions not affected shall continue to be in force and effect. (Section 2)
Repealing Clause
- All laws, decrees, executive orders, proclamations, rules and regulations, and other issuances, or parts thereof, which are inconsistent with the provisions of this Act are hereby repealed or modified accordingly. (Section 3)
Effectivity Clause
- This Act shall take effect fifteen (15) days after its complete publication in the Official Gazette or in at least two (2) newspapers of general circulation, whichever is earlier. (Section 4)
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Statutes
Republic Acts
Land Bank of the Philippines
agricultural land reform
land acquisition
small landholders
agricultural lessee
landowner
Central Bank
separability clause
repealing clause
effectivity clause
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AN ACT EXTENDING THE LIFE OF THE LAND BANK OF THE PHILIPPINES
Republic Act No. 10374
•March 5, 2013
Republic of the PhilippinesCONGRESS OF THE PHILIPPINESMetro Manila
Fifteenth CongressThird Regular Session
Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand twelve.
REPUBLIC ACT No. 10374
AN ACT EXTENDING THE LIFE OF THE LAND BANK OF THE PHILIPPINES, FURTHER AMENDING REPUBLIC ACT NO. 3844. OTHERWISE KNOWN AS THE "AGRICULTURAL LAND REFORM CODE". AS AMENDED
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 74 of Republic Act No. 3844 is amended to read as follows:
"SEC. 74. Creation. – To finance the acquisition by the Government of landed estates for division and resale to small landholders, as well as the purchase of the landholding by the agricultural lessee from the landowner, there is hereby established a body corporate to be known as the "Land Bank of the Philippines", hereinafter called the "Bank", which shall have its principal place of business in Manila. The legal existence of the Bank is extended for a period of fifty (50) years from the...
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