An Act to Amend Section One of Republic Act Numbered Twenty Hundred Fifty-Two
Year:
1960
Category:
Other
Date Approved:
June 18, 1960
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 amends Section One of Republic Act Numbered 2052, which pertains to the increase in the subscription of the Republic of the Philippines in the International Monetary Fund and the International Bank for Reconstruction and Development. It authorizes the President to negotiate for an increase in the capital stock subscription and quota.Full Text
REPUBLIC ACT No. 2686
An Act to Amend Section One of Republic Act Numbered Twenty Hundred Fifty-Two
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Section one of Republic Act Numbered Twenty hundred fifty-two, providing for the increase in the subscription of the Republic of the Philippines in the International Monetary Fund and the International Bank for Reconstruction and Development, is amended to read as follows:
Section 2. This Act shall take effect upon its approval.
Approved: June 18, 1960.
Sec. 1. The President of the Philippines is hereby authorized to negotiate for the increase of the subscription of the Republic of the Philippines to the capital stock of the International Bank for Reconstruction and Development from fifty million to one hundred million United States dollars, and its quota in the International Monetary Fund from fifty million to seventy-five million United States dollars."
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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.