R.A. 1576
Year:
1956
Category:
Other
Date Approved:
June 16, 1956
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act adds a new section, known as Section Nine-A, to the Revised Charter of the Philippine National Bank. It grants the Board of Directors the power to create a Self-Insurance System, a Provident Fund, and a Supplementary Retirement Plan for its employees.Full Text
REPUBLIC ACT No. 1576
AN ACT TO ADD NEW SECTION TO BE KNOWN AS SECTION NINE-A TO REPUBLIC ACT NUMBERED ONE THOUSAND AND THREE HUNDRED, ENTITLED "AN ACT REVISING THE CHARTER OF THE PHILIPPINE NATIONAL BANK."
Section 1. A new section to be denominated as section nine-A is hereby inserted after section nine of Republic Act Numbered One thousand three hundred, otherwise known as the Revised Charter of the Philippine National Bank, as to read as follows:
Section 2. All Acts or parts of Acts inconsistent or incompatible with the provisions of this Act are hereby repealed.
Section 3. This Act shall take effect upon its approval.
Approved: June 16, 1956
"Sec. 9-A. The Board of Directors shall also have the power and authority:
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.