Section 3
SEC. 3. In the case of a foreign banking corporation having more than one branch or agency in the Philippine Islands, the Bank Commissioner shall proceed as follows in order to ascertain whether the provisions of this law are being complied with: The accounts of all such branches or agencies shall be consolidated and treated as though they were the accounts of a single branch. If it is then found that no loan exceeds the limitation prescribed in this Act, and that the said branches and agencies thus treated as a whole are observing the other restrictions and provisions of this law, the Bank Commissioner shall consider this law as having been complied with as fully as though each branch or agency were individually complying with it in every respect. :