AN ACT PROVIDING FOR THE PAYMENT IN PART OF THE SUBSCRIPTION OF THE NATIONAL GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES TO THE CAPITAL STOCK OF THE NATIONAL POWER CORPORATION OUT OF THE OIL PRICE STABILIZATION FUND, AMENDING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 1956, AS AMENDED
Year:
1992
Category:
Other
Date Approved:
December 9, 1992
Summary
Plain-language AI-assisted summary — not the official text. As of July 2, 2026. Read the full text below or on the official source.
This Act provides for the partial payment of the National Government's subscription to the capital stock of the National Power Corporation using funds from the Oil Price Stabilization Fund. It amends Presidential Decree No. 1956 to facilitate this payment and outlines the conditions for the release of these funds.Full Text
Ninth Congress
Republic Act No. 7639 December 9, 1992
AN ACT PROVIDING FOR THE PAYMENT IN PART OF THE SUBSCRIPTION OF THE NATIONAL GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES TO THE CAPITAL STOCK OF THE NATIONAL POWER CORPORATION OUT OF THE OIL PRICE STABILIZATION FUND, AMENDING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 1956, AS AMENDED
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Be it enacted by the Senate and the House of Representatives of the Philippines in Congress assembled:
Section 1. The subscription of the Government of the Republic of the Philippines to the capital stock of the National Power Corporation, as provided for in Republic Act No. 6395, otherwise known as the Revised Charter of the National Power Corporation, as amended by Presidential Decree Nos. 758, 1360, and 1443, shall be paid in part out of the Oil Price Stabilization Fund in the amount of Three billion pesos (P 3,000,000,000) in accordance with Section 2 of this Act.
Section 2. Section 8 of Presidential Decree No. 1956, as amended by Executive Order No. 137, is hereby further amended to read as follows:
Section 3. All laws inconsistent with this Act are hereby repealed or modified accordingly.
Section 4. This Act shall take effect upon its publication in two (2) national newspapers of general circulation.
Approved: December 9, 1992.
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