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PD 116 Section 10

Section 10

SEC. 10. Section ten of the same Act is hereby amended to read as follows: "SEC. 10. Without prejudice to the proper civil action, violation of this Act and the implementing rules and regulations promulgated by the Monetary Board shall be subject to criminal prosecution and the guilty person shall, upon conviction, be sentenced to a fine of not less than fifty pesos nor more than Five hundred pesos, or to imprisonment for not less than thirty days nor. more than one year, or both, in the discretion of the court, and to return the entire sum received as interest from the party aggrieved, and in the case of non-payment, to suffer subsidiary imprisonment at the rate of one day for every two pesos: Provided, That in case of corporations, associations, societies, or companies, the manager, administrator or gerente or the person who has charge of the management or administration of the business shall be criminally responsible for any violation of this Act."

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Other provisions in PD 116

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

CitationPD 116 Section 10 (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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