RA 265 Section 53

Liability for notes and coins.

Section 53

SEC. 53. Liability for notes and coins.—Notes and coins issued by the Central Bank shall be liabilities of the Bank, and may be issued only against, and in amounts not exceeding, the assets of the Bank. Said notes and coins shall be a first and paramount lien on all assets of the Central Bank. The Central Banks holdings of its own notes and coins shall not be considered as part of its currency issue and, accordingly, shall not form part of the assets or liabilities of the Bank.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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