AN ACT EXTENDING THE EFFECTIVITY OF BATAS PAMBANSA BLG. 877, ENTITLED "AN ACT PROVIDING FOR THE STABILIZATION AND REGULATION OF RENTALS OF CERTAIN RESIDENTIAL UNITS AND FOR OTHER PURPOSES," FOR ANOTHER TWO YEARS

• Number: Republic Act No. 6643
• Sections: 2

Section 1

SECTION 1. The effectivity of Batas Pambansa Blg. 877, entitled "An Act Providing for the Stabilization and Regulation of Rentals of Certain Residential Units and, for Other Purposes," is hereby extended for another two years for the period January 1, 1988 to December 31, 1989: Provided, That the allowable maximum increase for the two-year period shall not be more than twenty percent (20%) for the first year and not more than twenty percent (20%) for the second year; which increases shall be cumulative and compounded.

Section 2

SEC. 2. This Act shall take effect on January 1, 1988, following its publication in at least one newspaper of general circulation.

Approved,

(Sgd.) RAMON V. MITRA

(Sgd.) JOVITO R. SALONGA

Speaker of the House of Representatives

President of the Senate

This Act which is a consolidation of Senate Bill No. 164 and House Bill No. 2759 was finally passed by the Senate and the House of Representatives on December 18, 1987.

(Sgd.) QUIRINO D. ABAD SANTOS, JR.

(Sgd.) ERIBERTO M. BERNAL

Secretary of the House of Representatives

Secretary of the Senate

Approved: December 28, 1987

(Sgd.) CORAZON C. AQUINO

President of the Philippines