tificate Fund.'-At the opening of each regular session of the Legislature, the Insular Treasurer shall submit to the Secretary of Finance, who will transmit the same to the Governor-General, a special report containing a detailed statement of the amount and sources of the 'Exchange Standard Fund' and the Treasury Certificate Fund' and of all the operations of the Treasury relating to said funds during the preceding year. Upon approval by the Governor-General a copy of such report shall be transmitted to each House of the Legislature. "The Insular Treasurer shall also submit to the GovernorGeneral, through the Secretary of Finance, a monthly report containing a detailed statement of all operations of the Treasury relating to such funds." SEC. 2. Whenever the phrase “Gold Standard Fund” appears in any law of the Philippine Islands it shall hereafter be deemed to read "Exchange Standard Fund." SEC. 3. This Act shall take effect only upon the approval of the President of the United States. Approved, March 16, 1935. 288554 SECOND NATIONAL ASSEMBLY First Session [COMMONWEALTH ACT No. 434] B. No. 1087 AN ACT VESTING IN THE TREASURER OF THE PHILIPPINES CERTAIN POWERS OVER TRUSTS FOR CHARITABLE USES AND APPROPRIATING THE NECESSARY FUNDS TO CARRY OUT THE PURPOSES THEREOF. Be it enacted by the National Assembly of the Philippines: SECTION 1. Without prejudice to the exercise by the competent courts of the powers vested in them over trusts, trustees, and trust estates, the Treasurer of the Philippines is vested with the same power and authority over trusts for charitable uses as that now exercised by him over mutual benefit, relief, and benevolent societies and associations under the provisions of Article VIII of Chapter 41 of Title VII of the Administrative Code. SEC. 2. For the purpose of this Act, a trust for charitable uses shall include all real or personal properties or funds, as well as those acquired with the fruits or income therefrom or in exchange or substitution thereof, given to or received by any person, corporation, association, foundation, or entity, except the National Government, for charitable, benevolent, educational, pious, or other uses for the benefit of the public at large or a particular portion thereof or for the benefit of an indefinite number of persons. SEC. 3. Such sums as may be necessary to carry out the provisions of this Act are appropriated out of any funds in the Philippine Treasury not otherwise appropriated: Provided, That appropriations for this purpose for the fiscal year nineteen hundred and forty and subsequent years shall be included in the annual appropriation acts. SEC. 4. This Act shall take effect upon its approval. 81828 TENTH PHILIPPINE LEGISLATURE Second Session [No. 4233] S. No. 117 AN ACT AMENDING THE THIRD PARAGRAPH OF SECTION SIXTEEN HUNDRED AND THIRTYSEVEN OF THE REVISED ADMINISTRATIVE CODE, AS AMENDED BY ACT NUMBERED THIRTY-FIVE HUNDRED AND NINETEEN, PROVIDING FOR THE PAYMENT OF FEES BY ALL BANKING INSTITUTIONS SUBJECT TO INSPECTION BY THE BANK COMMISSIONER. 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. The third paragraph of section sixteen hundred and thirty-seven of the Revised Administrative Code, as amended by Act Numbered Thirty-five hundred and nineteen, is hereby further amended to read as follows: "Within the first ten days of January and July of each year, every banking institution and every mutual building and loan association shall pay a fee to the Bank Commissioner in an amount equivalent to one-seventy-sixth of one per cent of the average total assets of such banking institution and/or mutual building and loan association during the preceding six months, but in no case shall such fee be less than fifty pesos: Provided, however, That the aggregate of such fees collected in any one year shall not exceed sixty-five thousand pesos. In the event that the proportion of fees based upon the average total assets of all banking institutions and/or mutual building and loan associations shall aggregate an amount in excess of sixty-five 294902 thousand pesos, in any one year, the ratio of the fee to the average total assets of all such banking institutions and/or mutual building and loan associations shall correspondingly be reduced. The Bank Commissioner shall, by regulation, prescribe the manner of determining the average total assets of banking institutions and mutual building and loan associations for the purpose of the payment of fees." SEC. 2. This Act shall take effect beginning January first, nineteen hundred and thirty-five. Approved, August 16, 1935. 294902 о MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES EXECUTIVE ORDER No. 305 DESIGNATING PROVINCIAL, CITY, AND MUNICIPAL TREASURERS, LIBRARIANS OF THE BRANCHES OF THE NATIONAL LIBRARY, AND PRINCIPALS OF CENTRAL SCHOOLS TO SELL AND DISTRIBUTE GOVERNMENT PUBLICATIONS. With a view to giving as wide publicity as possible to the activities being undertaken by the Government in the promotion of the political, social, and cultural welfare of the people, provincial, municipal, and city treasurers, librarians of the branches of the National Library, and principals of central schools under the Bureau of Education are hereby designated representatives of the Bureau of Printing in their respective jurisdictions to sell and distribute government publications. The Director of Printing may therefore consign from time to time to said officials under proper documents and invoices, a reasonable quantity of government publications which in his opinion are of value and/or interest to the general public for sale at such prices as may be fixed therefor under section one thousand six hundred fifty-one of the Administrative Code. Done at the City of Manila, this nineteenth day of October, in the year of Our Lord, nineteen hundred and forty, and of the Commonwealth of the Philippines, the fifth. MANUEL L. QUEZON President of the Philippines By the President: JORGE B. VARGAS Secretary to the President 49687 |