Bill Type
Congress Name
Long Title
AN ACT AUTHORIZING THE BANGKO SENTRAL NG PILIPINAS (BSP), PHILIPPINES DEPOSIT INSURANCE COMPANY (PDIC) AND BUREAU OF INTERNAL REVENUE (BIR) TO LOOK INTO DEPOSITS OF ANY BANKING INSTITUTION, THEREBY AMENDING REPUBLIC ACT 1405, AND FOR OTHER PURPOSES
Date filed
August 16, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB02403 |
| FULL TITLE : AN ACT AUTHORIZING THE BANGKO SENTRAL NG PILIPINAS (BSP), PHILIPPINES DEPOSIT INSURANCE COMPANY (PDIC) AND BUREAU OF INTERNAL REVENUE (BIR) TO LOOK INTO DEPOSITS OF ANY BANKING INSTITUTION, THEREBY AMENDING REPUBLIC ACT 1405, AND FOR OTHER PURPOSES |
| ABSTRACT : The bill seeks to allow bank regulators from the Bangko Sentral ng Pilpinas and the Philippine Deposit Insurance Corporation to examine the deposit records of banks to ascertain their actual financial condition. It also allows examiners from the Bureau of Internal Revenue to verify the correctness of the tax payments withheld by the banks. |
| PRINCIPAL AUTHOR/S : TEVES, HERMINIO G. |
| DATE FILED : 2004-08-16 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2004-08-23 |
Abstract
The bill seeks to allow bank regulators from the Bangko Sentral ng Pilpinas and the Philippine Deposit Insurance Corporation to examine the deposit records of banks to ascertain their actual financial condition. It also allows examiners from the Bureau of Internal Revenue to verify the correctness of the tax payments withheld by the banks.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.