An Act Reverting to the General Funds of the National Government the Cash Balances of Certain Special or Revolving Funds Under Certain Conditions
Year:
1959
Category:
Other
Date Approved:
June 20, 1959
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 allows for the transfer of cash balances from certain special or revolving funds to the general funds of the national government when the purposes for which the funds were created have been fulfilled or abandoned. It aims to ensure that unneeded funds are reverted to the national treasury for better allocation.Full Text
REPUBLIC ACT No. 2361
An Act Reverting to the General Funds of the National Government the Cash Balances of Certain Special or Revolving Funds Under Certain Conditions
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Any provision of law to the contrary notwithstanding, the whole or any such portion of any outstanding cash balance of any special or revolving fund upon certification by the head of the office administering the said fund and attestation by the Auditor General to the effect that the purpose or purposes for which the said fund was created had been fulfilled or abandoned or that the said amount of cash balance or any portion thereof is no longer needed without adversely affecting the purpose or purposes for which the said funds was created had been fulfilled, is hereby transferred to the general funds of the national government.
Section 2. This Act shall take effect upon its approval.
Approved: June 20, 1959.
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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.