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PD 64 Section 15

Section 15

SEC. 15. Section twenty-six of Republic Act Numbered Thirteen hundred, as amended, is further amended to read as follows: "PAYMENT OF DIVIDENDS OF GOVERNMENT SHARES" "SEC. 26. Payment of dividends corresponding to Government-owned shares. — The dividends declared corresponding to the shares of the Government as provided for in Section twenty-five hereof, shall be set aside and is hereby appropriated to form a special bond sinking fund which shall be used for the purpose only of retiring the government bonds issued pursuant to the last paragraph of Section three of this Act. The Bank shall be the trustee of these funds until the purpose for which it was created shall have been accomplished. Any and all income that may accrue shall form part of the fund. This special fund shall be deposited with the Bank. After the retirement and payment of the bonds including interest thereon from the special fund shall have been made, whatever residue remaining shall be used to pay for additional government subscription on the unissued shares of authorized capital stock. Thereafter, all profits assigned as dividends to the shares of the Government shall be paid into the Treasury of the Philippines for the general funds thereof.

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Other provisions in PD 64

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 64 Section 15 (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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