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[ Act No. 3723, November 21, 1930 ]

AN ACT AUTHORIZING THE INSULAR TREASURER TO INVEST THE PROCEEDS OF THE SALE OF THE BONDS FOR THE PROTECTION OF THE FINANCIAL INTERESTS OF THE GOVERNMENT UNDER ACT NUMBERED TWENTY-NINE HUNDRED AND NINETY-NINE IN THE MANNER PRESCRIBED THEREIN, AND FOR OTHER PURPOSES.

Be it enacted by the Senate and House of Representatives of the Philippines in
Legislature assembled and by the authority of the same:

Section 1. Subject to the approval of the Secretary of Finance, the Insular Treasurer is hereby authorized to invest the proceeds of the sale of the bonds for the protection of the financial interests of the Government issued under Act Numbered Twenty-nine hundred and ninety-nine in any or all of the following ways, and not otherwise:

a. In bonds or other evidences of indebtedness of the Government of the Philippine Islands;

b. In bonds or other evidences of indebtedness of the Government of the United States;

c. In bonds or other evidences of indebtedness of a chartered city, province, or municipality of the Philippine Islands;

d. In securities the principal and interest whereof are guaranteed by the Government of the United States or of the Philippine Islands.1aшphi1

Section 2. This Act shall take effect on its approval.

Approved, November 21, 1930.

The Lawphil Project - Arellano Law Foundation

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