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RA 3089 Section 13

RA 3089 Section 13

Section 13

SEC. 13. Fund to carry out the provisions of this Act.&mdashThe Secretary of Finance and the Governor of the Central Bank shall, within thirty days from the approval of this Act and from time to time thereafter, make an estimate of the internal revenue taxes, dollar margin fee, special import tax, customs duties, compensating tax and other charges, payable by gold producers directly or indirectly (except those otherwise allocated by law for other purposes) , as well as those arising from allocations of foreign exchange equivalent in value to gold sold to the Central Bank, and such estimates shall be certified by said officials. Upon such certification, the Central Bank of the Philippines is authorized to charge the current account of the National Treasury in said Bank in an amount equivalent to such certification and the amount so charged shall be set aside in a trust fund to be known as "Gold Assistance Trust Fund," which is hereby appropriated and shall be available exclusively for the purpose of carrying out the provisions of this Act: Provided, That if the amount available in the "Gold Assistance Trust Fund" is not sufficient to provide fully for the assistance to be given to the gold mines under this Act, the Central Bank is further authorized to charge the current account of the National Treasury in such amount as may be necessary to make up for the deficiency.

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Other provisions in RA 3089

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

CitationRA 3089 Section 13 (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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