Republic Act No. 2686




REPUBLIC ACT No. 2686 An Act to Amend Section One of Republic Act Numbered Twenty Hundred Fifty-Two Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled: Section 1. Section one of Republic Act Numbered Twenty hundred fifty-two, providing for the increase in the subscription of the Republic of the Philippines in the International Monetary Fund and the International Bank for Reconstruction and Development, is amended to read as follows: Sec. 1. The President of the Philippines is hereby authorized to negotiate for the increase of the subscription of the Republic of the Philippines to the capital stock of the International Bank for Reconstruction and Development from fifty million to one hundred million United States dollars, and its quota in the International Monetary Fund from fifty million to seventy-five million United States dollars." Section 2. This Act shall take effect upon its approval. Approved: June 18, 1960. The Lawphil Project - Arellano Law Foundation