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CA 699 Section 5

Section 5

SEC. 5. Unless Congress by law authorized such action neither the President nor any person or agency shall on behalf of the Commonwealth of the Philippines (a) request or consent to any change in the qouta of the Commonwealth of the Philippines under Article III, section 2, of the Articles of Agreement of the Fund; (b) propose or agree to any change in the par value of the Philippine peso under Article IV, section 5, or Article XX, section 4, of the Articles of Agreement of the Fund, or approve any general change in par values under Article IV, section 7; (c) subscribe to additional shares of stock under Article II, section 3, of the Articles of Agreement of the Bank; (d) accept any amendment under Article XVII of the Articles of Agreement of the Fund or Article VIII of the Articles of Agreement of the Bank; (e) make any loan to the Fund or the Bank. Unless Congress by law authorizes such action, no governor or alternate appointed to represent the Commonwealth of the Philippines shall vote for an increase of capital stock of the Bank under Article II, section 2, of the Articles of Agreement of the Bank. PAR VALUE OF PHILIPPINE PESO

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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

CitationCA 699 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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