PD 71 Section 27

Section 27

SEC. 27. Section seventy of the same Act is hereby amended to read as follows: "SEC. 70. After one year from the effectivity of this Act, Philippine branches of foreign banks shall be subject to Sections twenty-three and thirty-two of this Act. "Nothing in this Act shall be construed as restricting in any manner loans made by the Philippine branch of a foreign bank for the account of, and with funds supplied by, its head office or branches outside the Philippines, but the Monetary Board may require that all such loans be reported to it in accordance with such rules and regulations as it may issue on the subject."

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Other provisions in PD 71

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 71 Section 27 (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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