My bookmarksSign up free

Act No. 795 Section 2

Section 2

SEC. 2. No moneys appropriated in this Act are available for withdrawal in other than United States currency or Philippines currency, at the option of the insular Treasurer. In any case where it appears to the satisfaction of the Secretary of Finance and Justice that any obligation of the Philippine Government, entered into by contract or otherwise, is legally payable only in Mexican currency, and the appropriation available therefor is in United States currency or Philippines currency, the Secretary of Finance and Justice may authorize the Treasurer of the Philippine Archipelago to transfer to the proper disbursing officer the amount of Mexican currency required for said payment, in exchange for the equivalent amount in United States currency or Philippines currency at the authorized rate of exchange at the time such exchange is made. Notice of such exchange, with the authority therefor, shall be given forthwith to the Auditor by the Treasurer and the disbursing officer concerned. All moneys appropriated prior to the fiscal year nineteen hundred and four paid out of the Treasury after July first, nineteen hundred and three, shall be payable only in United States currency or Philippines currency, at the option of the Insular Treasurer: Provided, That exchange between Mexican currency and United Philippines currency may be had as provided in this section.

Read the full instrument →

Other provisions in Act No. 795

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. 795 Section 2 (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).

Continue your research