Applicability of the Corporation Law.
Section 17
SEC. 17. Applicability of the Corporation Law.—The provisions of the Corporation Law which are not inconsistent with the provisions of this Act, shall be applicable to the PHILCOA created thereunder.
RA 1145 CHAPTER IX.—Miscellaneous Provisions
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Section 18
SEC 18. No official or employee of the Corporation shall directly or indirectly be financially interested in any contract with the corporation or in any special privilege granted by said Corporation during his term of office. Any violation of this prohibition shall be punished by dismissal from office and by a fine of not more than one thousand pesos or imprisonment of not more than one r or both, at the discretion of the court.
Repeal or modifications.
Section 19
SEC. 19. Repeal or modifications.—Republic Act Numbered Four hundred seventy-one providing for the transfer to the NACOCO of fifty per centum of the fees collected from the Copra Standardization and Inspection Service s hereby repealed: Provided, That all amounts collected under said Act which are still unreleased upon approval hereof shall be turned over to the PHILCOA. All acts, executive orders, administrative orders, and proclamations or parts thereof inconsistent with any of the provisions of this Act are likewise repealed or modified accordingly.
Constitutionality.
Section 20
SEC. 20. Constitutionality.—If any provisions of this Act shall be held unconstitutional, the other provisions shall not thereby be affected.
Effectivity.
Section 21
SEC. 21. Effectivity.—This Act shall take effect upon its approval. Approved, June 17, 1954.
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