AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE
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AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE
Republic Act No. 8183
June 11, 1996
Case Overview and Summary
Summary of Republic Act No. 8183Monetary Obligations and Settlement Currency
- All monetary obligations shall be settled in the Philippine currency which is legal tender in the Philippines. (Section 1)
- The parties may agree that the obligation or transaction shall be settled in any other currency at the time of payment. (Section 1)
Repeal of Republic Act No. 529
- Republic Act Numbered Five Hundred Twenty-Nine (R.A. No. 529), as amended, entitled "An Act to Assume the Uniform Value of Philippine Coin and Currency," is hereby repealed. (Section 2)
Effectivity and Information Campaign
- This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in two (2) national newspapers of general circulation. (Section 3)
- The Bangko Sentral ng Pilipinas and the Department of Finance shall conduct an intensive information campaign on the effect of this Act. (Section 3)
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Tags
Statutes
Republic Acts
monetary obligations
Philippine currency
legal tender
settlement currency
repeal of RA 529
uniform value of Philippine coin and currency
Bangko Sentral ng Pilipinas
Department of Finance
information campaign
Law
AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE
Republic Act No. 8183
•June 11, 1996
Republic of the Philippines
Congress of the Philippines
Metro Manila
Tenth Congress
Republic Act No. 8183             June 11, 1996
Repealing RA 529
AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE AS AMENDED, ENTITLED "AN ACT TO ASSURE THE UNIFORM VALUE OF PHILIPPINE COIN AND CURRENCY."
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. All monetary obligations shall be settled in the Philippine currency which is legal tender in the Philippines. However, the parties may agree that the obligation or transaction shall be settled in any other currency at the time of payment.
Sec. 2. Republic Act Numbered Five Hundred Twenty-Nine (R.A. No. 529), as amended entitled "An Act to Assume the Uniform Value of Philippine Coin and Currency," is hereby repealed.
Sec. 3. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in two (2) national newspapers of general circulation. The Bangko Sentral ng Pilipinas and the Department of Finance shall...
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Amends
n/a
Amended by
n/a
Tags
Statutes
Republic Acts
monetary obligations
Philippine currency
legal tender
settlement currency
repeal of RA 529
uniform value of Philippine coin and currency
Bangko Sentral ng Pilipinas
Department of Finance
information campaign
Republic of the Philippines
Congress of the Philippines
Metro Manila
Tenth Congress
Republic Act No. 8183             June 11, 1996
Repealing RA 529
AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE AS AMENDED, ENTITLED "AN ACT TO ASSURE THE UNIFORM VALUE OF PHILIPPINE COIN AND CURRENCY."
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. All monetary obligations shall be settled in the Philippine currency which is legal tender in the Philippines. However, the parties may agree that the obligation or transaction shall be settled in any other currency at the time of payment.
Sec. 2. Republic Act Numbered Five Hundred Twenty-Nine (R.A. No. 529), as amended entitled "An Act to Assume the Uniform Value of Philippine Coin and Currency," is hereby repealed.
Sec. 3. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in two (2) national newspapers of general circulation. The Bangko Sentral ng Pilipinas and the Department of Finance shall...
Login to see full content