Republic Act No. 1956

REPUBLIC ACT No. 1956

AN ACT AMENDING ARTICLE ONE HUNDRED AND EIGHTY-SIX OF THE REVISED PENAL CODE, CONCERNING MONOPOLIES AND COMBINATIONS IN RESTRAINT OF TRADE.

Section 1. Article one hundred and eighty-six of the Revised Penal Code is amended to read as follows:

"Art. 186. Monopolies and combinations in restraint of trade. The penalty of prison correctional in its minimum period of a fine ranging from two hundred to six thousand pesos, or both, shall be imposed upon:

"If the offense mentioned in this Article affects any food substance, motor fuel or lubricants, or other articles of prime necessity, the penalty shall be that of prison mayor in its minimum and medium periods, it being sufficient for the imposition thereof that the initial steps have been taken toward carrying out the purposes of the combination.

"Any property possessed under any contract or by any combination mentioned in the preceding paragraphs, and being the subject thereof, shall be forfeited to the Government of the Philippines.

"Whenever any of the offenses described above is committed by a corporation or association, the president and each one of the directors or managers of said corporation or association or its agent or representative in the Philippines in case of a foreign corporation or association, who shall have knowingly permitted or failed to prevent the commission of such offenses, shall be held liable as principals thereof."

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

Approved: June 22, 1957