Transitory provisions.
Section 64
SEC. 64. Transitory provisions. — In cases where the existing rates of a lax, fee or other charge fixed by local ordinance of any city, municipality or barrio are in excess of the maximum rates provided for in this Code, or where the existing tax, fee, or other charge is no longer within the authority of the local government to impose or collect in accordance with the provisions of this Code, the local board or council concerned shall, within such time as the Secretary of Finance may determine, taking into account the financial stability of the local government concerned, hut not exceeding one year, adjust such existing rates or rescind such tax, fee or other charge, as the case may he, thru an amendatory or other necessary ordinance to conform to the provisions of this Code; otherwise, such rates or such tax, fee or other charge shall be deemed automatically adjusted or rescinded by operation of law. In the foregoing cases, as well as in cases where an existing ordinance imposes a tax, fee, or other charge not specifically mentioned in this Code or where an ordinance provides for an administrative or regulatory measure which is discriminatory in nature on the conduct of business or calling or affects the free flow of commerce as contemplated in Section 51 of this Code, the local board or council concerned shall submit a copy of the ordinance embodying the tax, fee, charge, or administrative or regulatory measure to the Secretary of Finance for review and other disposition in accordance with Section 44 of this Code within (6) months from the date of effectivity of this Code. Any or all such taxes, fees, charges, or administrative or regulatory measures embodied in ordinances not submitted to the Secretary of Finance for review as herein required shall be deemed ipso facto nullified after six months from the date of effectivity of this Code.