Section 1
SECTION 1. All Philippine National Bank circulating notes legally issued and now outstanding, except those issued illegally by the Japanese and listed hereunder and those which the Secretary of Finance may, from time to time, certify upon investigation to have been illegally issued or circulated, shall be presented for retirement and redemption to the Treasurer of the Philippines within one year after the approval of this Act. The Treasurer of the Philippines is hereby authorized and directed within the period hereinabove provided to redeem Philippine National Bank notes other: than those excepted in the preceding paragraph, that may be presented to him for redemption by exchanging them with treasury certificates. There is hereby appropriated the sum of five million pesos out of any funds in the Treasury of the Philippines, not otherwise appropriated, for the redemption herein authorized of Philippine National Bank circulating notes legally issued. PHILIPPINE NATIONAL BANK CIRCULATING NOTES ILLEGALLY ISSUED BY THE JAPANESE MILITARY AUTHORITIES NOT TO BE REDEEMED UNDER THIS ACT Serial Number Amount 5-peso denomination A 1735001-A 1775000 P 200,000.00 A1855001-A 1935000 400,000.00 A2175001-A 2215000 200,000.00 B164001 -B 360000 980,000.00 B400001 -B 440000 200,000.00 B520001 -B 1000000 2,400,000.00 E 4001 -E 208000 1,020,000.00 P 5,400,000.00 10-peso denomination A 1226001-A 1260000 P 340,000.00 E4001 -E 102000 980,000.00 P 1,320,000.00 20-peso denomination E40001 -E 50000 200,000.00 200,000.00 50-peso denomination A90201 -A 100000 490,000.00 490,000.00 7,410,000.00