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Act No. 3013 Section 5

Act No. 3013 Section 5

Section 5

SEC. 5. An appropriation is hereby made, out of the proceeds of the sale of the bonds issued by virtue of this Act of a sum which shall be sufficient, at the time this Act be-comes effective, to reconstruct the depository fund account representing funds due to the Treasurer of the United States on account of the deposit of funds in the United States to the credit of the Treasurer of the Philippine Islands in advance of their expenditures in said Islands. The Insular Treasurer is hereby authorized and directed to transfer to said depository fund account the necessary amount immediately upon the proceeds of the sale of said bonds being deposited to this credit in the duly authorized depository or depositories of funds of the Government of the Philippine Islands in the United States, or upon the recommendation of the Secretary of Finance and the approval of the Governor-General, the Insular Treasurer may pay the whole or any part of the sum due at that time to the Treasurer of the United States.

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Other provisions in Act No. 3013

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 3013 Section 5 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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