My bookmarksSign up free

PD 415 Section 5

PD 415 Section 5

Section 5

SECTION 5. Any provision of law to the contrary notwithstanding and in order to enable the Republic of the Philippines to pay the principal, interest, taxes and other normal banking charges on the loans, credits or indebtedness, all revenues realized from the projects financed by such loans, credits or indebtedness shall be turned over in full, after deducting actual and necessary expenses for operation and maintenance of said projects, to the National Treasury by the Department of National Defense, which is hereby appropriated for the purpose as when they shall become due. In cases where the revenues realized are insufficient to cover the principal, interests and other charges, such portion of the budgetary savings may be necessary to cover the balance or deficiency shall be set aside by the Department of National Defense exclusively for this purpose; Provided, That if there still remain a deficiency, the necessary amount is hereby appropriated out of the funds in the National Treasury to cover the payment of principal and interest of such loans, credits and indebtedness as and when they shall become due; Provided, further, That the Monetary Board of the Central Bank shall make provisions out of current foreign exchange receipts for the foreign exchange requirements to service the external debts.

Read the full instrument →

Other provisions in PD 415

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 415 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).

Continue your research