CA 458 Section 20

Section 20

Sec. 20. In addition to the Philippine National Bank, the Reserve Bank may act as official depository of the Government and its political subdivisions, and any moneys held in the Treasury of the Philippines, except the Treasury Certificate Fund, Exchange Standard Fund, and the fund provided m this Act for the redemption of the notes of the Reserve Bank, may, upon the authority and direction of the President of the Philippines, be deposited in the Reserve Bank.

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

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