Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTION ONE OF REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE, OTHERWISE KNOWN AS THE UNIFORM CURRENCY ACT, AS AMENDED(RE: RATE OF EXCHANGE IN PAYMENT OF DOMESTIC OBLIGATION)
Date filed
July 31, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB01589 |
| FULL TITLE : AN ACT AMENDING SECTION ONE OF REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE, OTHERWISE KNOWN AS THE UNIFORM CURRENCY ACT, AS AMENDED(RE: RATE OF EXCHANGE IN PAYMENT OF DOMESTIC OBLIGATION) |
| ABSTRACT : Declares that in cases of payment of a domestic obligation, the rate of exchange SHALL BE THAT WHICH IS HIGHER BETWEEN THE RATE OF EXCHANGE PREVAILING AT THE TIME THE OBLBIGATION WAS INCURRED AND THE RATE OF EXCHNAGE REVAILING AT THE TIME OF THE STIPULATED DATE OF PAYMENT. |
| PRINCIPAL AUTHOR/S : GULLAS, EDUARDO R. |
| DATE FILED : 1998-07-31 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 1998-08-06 |
Abstract
Declares that in cases of payment of a domestic obligation, the rate of exchange SHALL BE THAT WHICH IS HIGHER BETWEEN THE RATE OF EXCHANGE PREVAILING AT THE TIME THE OBLBIGATION WAS INCURRED AND THE RATE OF EXCHNAGE REVAILING AT THE TIME OF THE STIPULATED DATE OF PAYMENT.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.