Section 38
SEC. 38. Section seventy-two of the same Act is hereby amended to read as follows: "SEC. 72. Purchases and sales of gold. — The Central Bank may buy and sell gold in any form, subject to such regulations as the Monetary Board may issue. "The Monetary Board may at any time require that any gold held by any person or entity under the jurisdiction of the Philippines be delivered to the Central Bank or to any banks or other agents contracted or engaged by the Central Bank for the purpose. The Monetary Board may also impose conditions 'under which gold in any shape or form may be acquired and held, transported, melted, or treated, imported, exported, earmarked or held in custody for foreign or domestic account. "The purchases and sales of gold authorized by this section shall be made in the national currency at the effective exchange rate or rates and at the prevailing international market price as determined by the Monetary Board."