Section 2
SEC. 2. Simultaneously with the resumption of its business the Philippine National Bank, shall acquire the assets and assume the deposit and other liabilities of the Banking Division of the National Treasury, after due and proper notice to all depositors and other creditors of the Banking Division, as provided for in Executive Order No. 33, promulgated March 10, 1945. Upon the taking over of all business activities of the Banking Division, the current account of the National Treasury shall be credited on the books of the Bank with the amount by which the assets on the banking Division exceeds its liabilities to depositors and other creditors so that all of the net free working funds originally furnished to the Banking Division by the Commonwealth Government, including all profits and after deducting all losses up to the date of the taking over of the business of such Banking Division, shall be paid to the Philippine National Bank and credited to the current account of the National Treasury. Thereupon, the Banking Division shall cease to exist, but the Bank shall have the right during a period of one year immediately following, to make such adjustments in the current account of the National treasury as may be necessary to give effect to its acquisition of any additional assets or its assumption of additional liabilities of the Banking Division which may not have been ascertained at the time of its taking over of the business of such Banking Division.